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MHS Capital

San Francisco, California · Invests in US; Europe; LATAM · Website

SeedSeries AB2B SaaSDeveloper ToolsEnterprise SoftwareDeveloper Tools & Infrastructure

Thesis

Partner closely with visionary entrepreneurs building category-defining companies. Focus on bootstrapped software companies transitioning to venture-backed growth and serial entrepreneurs acquiring small tech firms. Provide capital plus access to operator-mentors from Google, PayPal, Salesforce who serve as investors and advisors.

Likely not a fit for

Do not invest in non-technical founders or companies without clear domain expertise. Avoid non-software businesses or commodity plays. Do not pursue companies that lack capital efficiency or clear path to scale.

How they invest

Lead or follow
Usually leads
Typical decision
~2 weeks
Warm intro
Preferred
Involvement
Takes a board seat
Fund status
Actively deploying
Assets under mgmt
$75M
Decision process
Partnership vote

Partners & team

2 contacts on file

MS

Mark Sugarman

General PartnerFounding General Partner & Managing Partner · Primary contact

+ Pitch

m•••@mh•••.com

LinkedIn profile

X profile

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VN

Vijay Nagappan

PartnerPrincipal/Partner

+ Pitch

v•••@mh•••.com

LinkedIn profile

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Portfolio

Seneca
ThumbtackEcommerce Marketplaces

Thumbtack is a technology company helping millions of people confidently care for and improve their homes by connecting homeowners with local service professionals.

outreach.ioEnterprise Software

Outreach is a company that helps sales teams with AI-powered workflows, headquartered in Seattle, and recognized for its workplace culture and employee benefits.

UdemyEdtech

Udemy is an online learning platform that offers a wide range of courses across various subjects, enabling individuals to learn new skills at their own pace. It serves both individual learners and businesses looking to upskill their workforce through a diverse catalog of content created by expert instructors.

Accomplish HealthHealthcare Digital

Accomplish Health is a virtual medical weight loss platform serving health systems & patients with industry-leading outcomes. It is a fee for service, tele-health obesity medicine practice that partners with health system bariatric surgery practices to expand access to comprehensive obesity care.

AlineHealthcare Digital

ALINE provides alignment, comfort, and balance through patented insole technology designed to improve physical, mental, and emotional health. Their products are aimed at athletes and everyday movers, enhancing performance and comfort.

Auto Hauler ExchangeLogistics Supply Chain

Auto Hauler Exchange is a direct vehicle transportation marketplace that connects shippers and carriers, eliminating the need for brokers and facilitating faster, cost-effective vehicle logistics.

FarmbloxAgetech Longevity

Farmblox connects equipment and in-field sensors to an app so growers and producers can fix problems fast and automate tasks to improve productivity.

Inflection.ioEnterprise Software

Inflection.io is a B2B marketing automation platform that leverages AI to enhance marketing strategies, enabling companies to communicate effectively with their customers and prospects. The platform supports the entire account lifecycle from prospecting to customer retention and expansion.

IndiegogoEcommerce Marketplaces

Indiegogo is a crowdfunding platform that enables creators to share their projects, secure funding, and build a community around their innovations. It supports various categories including tech, creative works, community projects, and gaming.

FencerSecurity Cyber

Fencer is a security platform designed for startups, providing comprehensive security solutions including application security, cloud security, network security, and compliance management. It integrates seamlessly into existing development workflows to help teams manage security without hindering their momentum.

SchematicEnterprise Software

Schematic enables developers to implement monetization strategies without code changes, allowing go-to-market teams to control pricing, packaging, and entitlements. It supports various usage-based pricing models and integrates seamlessly with Stripe.

Recent activity

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LAUNCH$100K–$3M
Research briefRead more
MHS Capital Research Investment Thesis MHS Capital is an early-stage venture capital firm founded in 2006 by Mark Sugarman. The fund targets bootstrapped software and internet companies that have demonstrated traction and are ready to transition to venture-backed growth. They provide direct access to senior operator-mentors and a network of tech entrepreneurs and executives from Google, PayPal, an

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