Private Equity: What Happens When Surrogacy Agencies Get Investors?

How does private equity change surrogacy? Caitlyn Devine, Executive Director at Center for Surrogate Parenting (CSP), joins Erin Quick from Simbe to share how CSP navigated the transition from family-run agency to private equity investment—without losing sight of their mission or humanity. We dig into what PE means for day-to-day operations, affordability, and community for intended parents, plus how data and tech can actually help keep the personal touch.

Key Takeaways:

• Private equity can improve agency infrastructure—but success depends on aligning with core values and mission.
• CSP’s transition to private equity investment has strengthened—not diluted—their focus on people and relationships.
• Business efficiency and the “human touch” aren’t mutually exclusive. Technology can help free up time for more personal, compassionate support.
• Affordability is still a major barrier. More data and operational support could open doors for more intended parents.
• Intended parents often feel isolated. Agencies should focus on building genuine community, not just managing cases.
• Surrogacy is more than a medical transaction—it’s a hospitality experience.
• Transparency and open communication are essential when navigating big changes like outside investment.
• Surrogates care about agency values, not just compensation or perks.
• Private equity brings stability and fresh insights, but the heart of the agency must remain front and center.

Chapters:

00:00 – Introduction: Surrogacy and Private Equity
01:24 – CSP’s Story: From Family Agency to Private Equity
03:50 – How PE Changed Operations (and What Didn’t Change)
06:51 – Business Process vs. Personal Touch: Where’s the Line?
09:08 – Culture & Values: Keeping What Matters in a Corporate World
11:33 – Surrogates’ Views: What Do They Notice?
14:20 – Critics & Skeptics: What Private Equity Gets Wrong (and Right)
16:49 – Upgrades: Tech, Infrastructure, and New Capabilities
20:41 – The PE Playbook: What’s Actually Useful?
21:56 – Decision-Making and Agency Dynamics: Who Calls the Shots?
24:28 – Efficiency, Innovation, and the Role of Data
26:10 – Giving Families Options: Choice and Accessibility
26:35 – Stability: Can PE-Backed Agencies Offer More Security?
29:29 – Looking Ahead: Hopes for the Next Generation of Surrogacy
31:55 – Why Community Support for Intended Parents Still Matters