United States · 
What does MHS Capital invest in?
MHS Capital invests most often at Series A and Seed (61% of the rounds on record), in sectors such as AI & Machine Learning, Artificial Intelligence & Machine Learning (AI/ML) and B2B.
MHS Capital highlights
- 01
1 cheques in the last 12 months
- 02
Mostly Series A and Seed: 61% of its rounds
- 03
Sole investor in 4 rounds, median $2.3M
- 04
4 exits from the portfolio
What they do
- Type
- VC firm (from a list, unverified)
- Cheque size
- Not stated
- Stages
- Pre-seedSeedSeries A
- Sectors
- AI & Machine LearningArtificial Intelligence & Machine Learning (AI/ML)B2B
- Based in
- San Francisco, United States
- Cold pitches
- Not stated
The record
Every round we can evidence, newest first47 appearances
- 2026
1 round
- Apr
- 2019
2 rounds
- Sept
- Apr
- 2018
2 rounds
- May
- Jan
- 2017
1 round
- May
- 2016
5 rounds
- Nov
- Oct
- Aug
- Apr
- Feb
- 2015
4 rounds
- Oct
- Jul
- Jun
- Feb
- 2014
6 rounds
- Sept
- Aug
- Jun
- May
- Mar
- Jan
- 2013
5 rounds
- Nov
- Jun
- Jun
- Jan
- Jan
- 2012
5 rounds
- Dec
- Dec
- Nov
- Jul
- Jan
- 2011
4 rounds
- Nov
- Oct
- Aug
- Feb
- 2010
3 rounds
- Sept
- Aug
- Jan
- 2009
3 rounds
- Nov
- Jun
An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.
The team
Named by the firm itself, on a filing, its Form ADV or its company registration2 named
MSMark SugarmanManaging DirectoriFiling they signed
SMSugarman MarkManaging MemberiForm ADV
We also hold 3 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.
What the register says
From the firm's own filings with the SEC, which it must file accurately by law
$368Mgross assets of its funds, 2 advisers combinedOct 2026
Exemptreporting adviserventure or small private funds
- Legal name
- MHS Capital Management III, LLC
- SEC number
- CRD 308886
Who backs their funds
1 LP on record in MHS Capital's funds
- Funds
- 1
The institutions that put money into its funds, which the firm then invests in companies.Source: an LP list.
Cendana Capital1 fundFund Vintage Committed MHS Capital - -
Exits from the portfolio
Companies it backed that were later bought or listed4 in all
HowAboutWeBought by IACUndisclosedJul 2014
Pulpo MediaBought by Entravision Communications CorporationUndisclosedJun 2014
ApplifierBought by Unity TechnologiesUndisclosedMar 2014
An exit counts when it came after the firm's first round in the company. From historical deal records.