# MHS Capital: portfolio, investments and team > MHS Capital is a vc firm based in United States. 47 investments on record, 1 in the last 12 months, latest Apr 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/mhs-capital (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # MHS Capital Last cheque observed Apr 2026; 47 cheques on record. Email Deploying now New fund $155M, Dec 2022 VC firm Pre-seed Seed Series A AI & Machine Learning Artificial Intelligence & Machine Learning (AI/ML) B2B Follow MHS Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fmhs-capital) Deploying now **100%** of best year **1** **cheques in 12 months**, 47 on record Since the last cheque **193** days **00** hrs **00** min **00** sec Median round **$30M** Rounds led **1 of 47** Sole investor **4 rounds** Exits **4 from the portfolio** Mostly in **United States, 89%** Pitch MHS Capital ## 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-seed Seed Series A - **Sectors:** AI & Machine Learning Artificial Intelligence & Machine Learning (AI/ML) B2B - **Based in:** San Francisco, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **47 appearances** - **2026** 1 round - **Apr** **[Schematic](https://millionrounds.com/company/schematic)** Seed · US · Crunchbase News **$6.5M** With 6 others - **2019** 2 rounds - **Sept** **[Grove Collaborative](https://millionrounds.com/company/grove-collaborative)** Series D · US · FinSMEs **$150M** With 8 others - **Apr** **[Zippia](https://millionrounds.com/company/zippia)** Series A · US · FinSMEs **$8.5M** With 2 others - **2018** 2 rounds - **May** **[Outreach](https://millionrounds.com/company/outreach)** Series D · US · FinSMEs **$65M** With 6 others - **Jan** **[Pioneer Square Labs](https://millionrounds.com/company/pioneer-square-labs)** Series B · US · FinSMEs **$15M** With 12 others - **2017** 1 round - **May** **[Outreach](https://millionrounds.com/company/outreach)** Series C · US · FinSMEs **$30M** With 4 others - **2016** 5 rounds - **Nov** **[Gamentory](https://millionrounds.com/company/gamentory)** US · FinSMEs **$2.0M** Sole investor - **Oct** **[Kindly Care](https://millionrounds.com/company/kindly-care)** US · TechCrunch **$3.1M** *Led* - **Aug** **[Finova](https://millionrounds.com/company/finova)** US · FinSMEs **$53M** With 2 others - **Apr** **[Finova Financial](https://millionrounds.com/company/finova-financial)** **$53M** With 7 others - **Feb** **[Udemy](https://millionrounds.com/company/udemy)** **$60M** With 22 others - **2015** 4 rounds - **Oct** **[Outreach](https://millionrounds.com/company/outreach)** Series A · US **$9.2M** With 2 others - **Jul** **[Guidebook](https://millionrounds.com/company/guidebook)** Series A · US **$10M** With 1 other - **Jun** **[Plotly](https://millionrounds.com/company/plotly)** Series A · CA **$5.5M** With 4 others - **Feb** **[Humanity](https://millionrounds.com/company/humanity)** Series B · US **$9.0M** With 3 others - **2014** 6 rounds - **Sept** **[ShiftPlanning](https://millionrounds.com/company/shiftplanning)** Venture · US **$3.2M** With 1 other - **Aug** **[Bizible](https://millionrounds.com/company/bizible)** Series B · US **$8.0M** With 6 others - **Jun** **[InfoScout](https://millionrounds.com/company/infoscout)** Series B · US **$16M** With 2 others - **May** **[Udemy](https://millionrounds.com/company/udemy)** Series C · US **$32M** With 2 others - **Mar** **[Simply Measured](https://millionrounds.com/company/simply-measured)** Series C · US **$20M** With 3 others - **Jan** **[Indiegogo](https://millionrounds.com/company/indiegogo)** Series B · US **$40M** With 6 others - **2013** 5 rounds - **Nov** **[Sprig](https://millionrounds.com/company/sprig)** Seed · US · techcrunch.com **$1.2M** With 13 others - **Jun** **[Combatant Gentlemen](https://millionrounds.com/company/combatant-gentlemen)** Seed · US · techcrunch.com **$1.8M** With 7 others - **Jun** **[Handshake](https://millionrounds.com/company/handshake)** Seed · US · blogs.wsj.com **$1.5M** With 5 others - **Jan** **[Simply Measured](https://millionrounds.com/company/simply-measured)** Series B · US **$8.0M** With 2 others - **Jan** **[Simply Measured](https://millionrounds.com/company/simply-measured)** Series A · US · simplymeasured.com **$8.0M** With 1 other - **2012** 5 rounds - **Dec** **[Applifier](https://millionrounds.com/company/applifier)** Series B · FI · techcrunch.com **$4.0M** With 3 others - **Dec** **[Udemy](https://millionrounds.com/company/udemy)** Series B · US · freshnews.com **$12M** With 3 others - **Nov** **[Bizible](https://millionrounds.com/company/bizible)** Series A · US · bizible.com **$2.2M** With 4 others - **Jul** **[Mind Lab](https://millionrounds.com/company/mind-lab)** Series C · BR **Undisclosed** With 2 others - **Jan** **[Thumbtack](https://millionrounds.com/company/thumbtack)** Series A · US · techcrunch.com **$4.5M** With 3 others - **2011** 4 rounds - **Nov** **[HowAboutWe](https://millionrounds.com/company/howaboutwe)** Series B · US **$15M** With 4 others - **Oct** **[Udemy](https://millionrounds.com/company/udemy)** Series A · US · techcrunch.com **$3.0M** With 2 others - **Aug** **[Moat](https://millionrounds.com/company/moat)** Seed · US · techcrunch.com **$1.5M** With 9 others - **Feb** **[Applifier](https://millionrounds.com/company/applifier)** Seed · FI · fis.dowjones.com **$2.0M** With 4 others - **2010** 3 rounds - **Sept** **[HowAboutWe](https://millionrounds.com/company/howaboutwe)** Series A · US · businessinsider.com **$3.1M** With 7 others - **Aug** **[Udemy](https://millionrounds.com/company/udemy)** Seed · US · techcrunch.com **$1.0M** With 10 others - **Jan** **[Simply Measured](https://millionrounds.com/company/simply-measured)** Seed · US · untitledstartup.com **$250K** With 2 others - **2009** 3 rounds - **Nov** **[Pulpo Media](https://millionrounds.com/company/pulpo-media)** Seed · US **Undisclosed** With 3 others - **Jun** **[CourtTrax](https://millionrounds.com/company/courttrax)** Seed **$450K** With 3 others 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 registration **2 named** MS **Mark Sugarman** Managing Director i Filing they signed SM **Sugarman Mark** Managing Member i Form 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 **$368M** gross assets of its funds, 2 advisers combined Oct 2026 **Exempt** reporting adviser venture 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 Capital** 1 fund](https://millionrounds.com/fund/cendana-capital) Fund Vintage Committed MHS Capital - - ## Exits from the portfolio Companies it backed that were later bought or listed **4 in all** **[HowAboutWe](https://millionrounds.com/company/howaboutwe)** Bought by [IAC](https://millionrounds.com/fund/iac) **Undisclosed** Jul 2014 **[Pulpo Media](https://millionrounds.com/company/pulpo-media)** Bought by Entravision Communications Corporation **Undisclosed** Jun 2014 **[Convertro](https://millionrounds.com/company/convertro)** Bought by [AOL](https://millionrounds.com/fund/aol) **$101M** May 2014 **[Applifier](https://millionrounds.com/company/applifier)** Bought by Unity Technologies **Undisclosed** Mar 2014 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$155M** raised in Dec 2022 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Pre-seed Seed Series A Median round joined **$30M** the round, not its cheque Alone, median **$2.3M** Led 1 of 47 rounds **2%** - **Sole investor:** 4 rounds - **Last cheque:** Apr 2026 - **Exits:** 4 from the portfolio Rounds by stage said on their site - Series A said *14* - Seed said *11* - Series B *10* - Series C *4* - Series D *2* - Pre-seed said *-* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) 5 - [500 Global](https://millionrounds.com/fund/500-startups) 4 - [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) 4 - [Founder Collective](https://millionrounds.com/fund/founder-collective) 3 - [Lightbank](https://millionrounds.com/fund/lightbank) 3 - [Madrona Venture Group](https://millionrounds.com/fund/madrona) 3 **Pitching MHS Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as MHS Capital. A count of rooms they were both in, not a relationship either has claimed. [**Bessemer Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**500 Global** Angel **4** rounds together](https://millionrounds.com/fund/500-startups)[**Insight Partners** VC firm **4** rounds together](https://millionrounds.com/fund/insight-venture-partners)[**Founder Collective** VC firm **3** rounds together](https://millionrounds.com/fund/founder-collective)[**Lightbank** VC firm **3** rounds together](https://millionrounds.com/fund/lightbank)[**Madrona Venture Group** VC firm **3** rounds together](https://millionrounds.com/fund/madrona)[**Mayfield Fund** VC firm **3** rounds together](https://millionrounds.com/fund/mayfield)[**Norwest Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/norwest)[**ff Venture Capital** VC firm **3** rounds together](https://millionrounds.com/fund/ff-venture-capital)[**Amidzad Partners** VC firm **2** rounds together](https://millionrounds.com/fund/amidzad-partners)[**Aydin Senkut** Angel **2** rounds together](https://millionrounds.com/fund/aydin-senkut)[**Dan Martell** Angel **2** rounds together](https://millionrounds.com/fund/dan-martell) ## Recently backed The latest companies MHS Capital put money into. [**Schematic** $6.5M · Apr 2026](https://millionrounds.com/company/schematic)[**Grove Collaborative** $150M · Sept 2019](https://millionrounds.com/company/grove-collaborative)[**Zippia** $8.5M · Apr 2019](https://millionrounds.com/company/zippia)[**Outreach** $65M · May 2018](https://millionrounds.com/company/outreach)[**Pioneer Square Labs** $15M · Jan 2018](https://millionrounds.com/company/pioneer-square-labs)[**Finova** $53M · Aug 2016](https://millionrounds.com/company/finova) ## Quick answers about MHS Capital ### 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. ### How active is MHS Capital? 47 investments on record, 1 of them in the last 12 months, and it led 1. The most recent was in Apr 2026. ### What has MHS Capital invested in recently? Its most recent investments on record: Schematic (Seed, Apr 2026), Grove Collaborative (Series D, Sept 2019) and Zippia (Series A, Apr 2019). ### How big are MHS Capital's cheques? The median round it joins is $30M. ### Does MHS Capital lead rounds? Sometimes: it led 1 of its 47 investments on record (2%). ### Where does MHS Capital invest? Most of the companies it backs are in the United States (89%) and Finland (5%). ### Is MHS Capital investing now? Yes: it is actively investing, with 1 investments in the last 12 months. ### Who does MHS Capital invest alongside? Most often Bessemer Venture Partners (5 rounds together), 500 Global (4 rounds together) and Insight Partners (4 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. 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