Investor Profile: Cultivation Capital — Thesis, Cheque Size & How to Apply

If you are researching Cultivation Capital funding, you are looking at one of the most active early-stage firms in the American Midwest. Founded in 2012 and based in St. Louis, Missouri, it backs technology and life sciences companies at seed and pre-Series A. Here is how to get funding from Cultivation Capital, what each of its strategies pays, and who runs it.

Thesis: early-stage, hands-on, beyond the coasts

Cultivation Capital invests in companies that have reached measurable milestones, with product, revenue and traction already in place. Its general partners are entrepreneurs and operators who take board roles, mentor founders, and help portfolio companies reach the benchmarks that unlock their next round. It invests across more than 25 states and countries, but its heartland is St. Louis and the greater Midwest.

Sectors, stages and cheque sizes

The firm runs distinct strategies with different cheque sizes. Its Midwest seed strategy, run with Twain Financial Partners through the Spirit of St. Louis Fund, makes seed investments in fintech, healthcare and agriculture technology startups active in St. Louis or the greater Midwest, with initial investments typically around $250,000 and follow-on available. Its software team invests $500,000 to $3,000,000, typically at pre-Series A. Its life sciences and health technology team invests $250,000 to $1,000,000 in post-seed and pre-Series A health technology companies.

Fund size

Cultivation Capital does not publish a single current total fund size, so that figure is not publicly disclosed. One reported marker: its Tech Fund III targeted $50 million, according to SEC filings reported by Crunchbase News. Focus on the strategy-level cheque sizes above, which the firm does publish.

Notable portfolio companies

Portfolio companies shown on the firm's own strategy pages include Balto, Curate, Paytient, Clever Real Estate, Cloudbeds, Capacity and Be My Eyes. Wider portfolio names associated with the firm include Benson Hill and Geneoscopy. It says it had backed more than 140 companies, leads about half its rounds, and often takes board seats.

Partners and team

Cultivation Capital was co-founded by general partners Brian Matthews and Cliff Holekamp. Holekamp, a former founder and Washington University entrepreneurship professor, was named by Business Insider among the Seed 100 best early-stage investors in 2022. Other general partners named in filings and team listings include Heather Wood, Barry Sandweiss, John True and Timothy Stern.

Programs, credits and perks

The firm has no currently published accelerator program or credits and perks bundle of its own. Historically, it partnered with St. Louis accelerator Capital Innovators, committing $1 million in follow-on funding for graduates of its fall 2012 and spring 2013 classes. Today its published value-add is mentorship, scaling and fundraising help, and portfolio introductions.

How to apply for funding from Cultivation Capital

Start on the firm's official site, cultivationcapital.com, and approach through its contact route or a warm introduction from a portfolio founder, a St. Louis ecosystem contact or a co-investor. Match your pitch to the right strategy: Midwest seed, software, or life sciences. Show measurable milestones, a clear path to your next round, and why a hands-on, board-level partner fits. Name the strategy, cheque range and milestone you have hit.