# Service Provider Capital: portfolio, investments and team

> Service Provider Capital is a vc firm based in United States. 165 investments on record, 12 in the last 12 months, latest Aug 2026.

Source: https://millionrounds.com/fund/service-provider-capital (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Service Provider Capital

Last cheque observed Aug 2026; 165 cheques on record.

Email

Deploying now New fund $2.3M, Nov 2023 VC firm

Pre-seed Seed Series A Advertising Enterprise Software Fintech

Follow Service Provider Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fservice-provider-capital)

Deploying now

**46%** of best year **12** **cheques in 12 months**, 165 on record

Since the last cheque **91** days **00** hrs **00** min **00** sec

Median round **$3.6M** Rounds led **0 of 165** Sole investor **16 rounds** Mostly in **United States, 97%**

Pitch Service Provider Capital

## Service Provider Capital highlights

- 01 12 cheques in the last 12 months
- 02 Mostly Seed and Venture: 63% of its rounds
- 03 Sole investor in 16 rounds, median $3.6M

## What they do

> Service Provider Capital is a venture capital fund that co-invests in Seed and Series A deals led by institutional venture funds. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Advertising Enterprise Software Fintech
- **Based in:** Golden, United States
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **165 appearances**

- **2026** 5 rounds
- **Aug** **[Outside](https://millionrounds.com/company/outside)** Debt · US **$50M** Sole investor
- **Apr** **[Everee](https://millionrounds.com/company/everee)** Venture · US **$4.5M** With 1 other
- **Feb** **[Boomband](https://millionrounds.com/company/boomband)** Seed · US **$4.0M** With 2 others
- **Jan** **[RouteSense](https://millionrounds.com/company/routesense)** Pre-seed · US **$2.0M** With 1 other
- **Jan** **[Klearly](https://millionrounds.com/company/klearly)** Series A · US **$14M** With 3 others
- **2025** 21 rounds
- **Dec** **[Codoxo](https://millionrounds.com/company/codoxo)** Series C · US **$35M** With 2 others
- **Dec** **[BoodleBox](https://millionrounds.com/company/boodlebox)** Seed · US **$5.0M** With 2 others
- **Dec** **[Pronto](https://millionrounds.com/company/pronto)** Venture · US **Undisclosed** With 2 others
- **Dec** **[Pomp](https://millionrounds.com/company/pomp)** Venture · US **$584K** With 3 others
- **Nov** **[Upwardli](https://millionrounds.com/company/upwardli)** Seed · US **$9.0M** With 2 others
- **Nov** **[Greenshoe](https://millionrounds.com/company/greenshoe)** Seed · US **$3.0M** With 3 others
- **Nov** **[Orion](https://millionrounds.com/company/orion)** Seed · US **$3.5M** With 3 others
- **Oct** **[Pavewise](https://millionrounds.com/company/pavewise)** Seed · US **$2.5M** With 4 others
- **Aug** **[Swept AI](https://millionrounds.com/company/swept-ai)** Pre-seed · US **$1.4M** With 2 others
- **Jul** **[Bonsai](https://millionrounds.com/company/bonsai)** Seed · CA **$1.8M** Sole investor
- **Jun** **[MOONNOX](https://millionrounds.com/company/moonnox)** Seed · US **$2.0M** With 1 other
- **Jun** **[Bonsai Data Solutions](https://millionrounds.com/company/bonsai-data-solutions)** Venture · US **$2.0M** Sole investor
- **Jun** **[Parlay](https://millionrounds.com/company/parlay)** Seed · US **$1.7M** With 3 others
- **May** **[Meibel](https://millionrounds.com/company/meibel)** Seed · US **$7.0M** With 1 other
- **May** **[Reconstruct](https://millionrounds.com/company/reconstruct)** Venture · US **Undisclosed** With 3 others
- **May** **[Prediction Guard](https://millionrounds.com/company/prediction-guard)** Seed · US **$3.7M** With 2 others
- **Apr** **[Chief](https://millionrounds.com/company/chief)** Pre-seed · US **$3.3M** Sole investor
- **Feb** **[Mavvrik](https://millionrounds.com/company/mavvrik)** Seed · US **$6.2M** With 2 others
- **Feb** **[Pickleheads](https://millionrounds.com/company/pickleheads)** Seed · US **$2.5M** With 1 other
- **Feb** **[HelloHero](https://millionrounds.com/company/hellohero)** Venture · US **Undisclosed** With 3 others
- **Jan** **[Mobly](https://millionrounds.com/company/mobly)** Seed · US **$4.3M** With 4 others
- **2024** 24 rounds
- **Nov** **[FiVerity](https://millionrounds.com/company/fiverity)** Venture · US **$8.5M** With 2 others
- **Nov** **[Happy Doc](https://millionrounds.com/company/happy-doc)** Pre-seed · US **$2.2M** With 1 other
- **Oct** **[Data Quality Co-Op](https://millionrounds.com/company/data-quality-co-op)** Seed · US · TechStartups **$1.3M** With 2 others
- **Sept** **[Hydden](https://millionrounds.com/company/hydden)** Seed · Access Venture Partners **$4.4M** With 6 others
- **Sept** **[Besolo](https://millionrounds.com/company/besolo)** Pre-seed · US **$1.5M** With 2 others
- **Sept** **[Architect Health](https://millionrounds.com/company/architect-health)** Pre-seed · US **$25K** With 2 others
- **Aug** **[Kobiton](https://millionrounds.com/company/kobiton)** Venture · US **$3.0M** With 2 others
- **Aug** **[Livly](https://millionrounds.com/company/livly)** Venture · US **$10M** With 1 other
- **Aug** **[Nim](https://millionrounds.com/company/nim)** Seed · US **$2.9M** With 5 others
- **Jul** **[Farmblox](https://millionrounds.com/company/farmblox)** Pre-seed · US **$2.5M** With 1 other
- **Jun** **[Coldcart](https://millionrounds.com/company/coldcart)** Seed · US **$6.5M** With 2 others
- **Jun** **[BoxedUp](https://millionrounds.com/company/boxedup)** Seed · US **$2.8M** With 2 others
- **Jun** **[CirrusMD](https://millionrounds.com/company/cirrusmd)** Venture · US **Undisclosed** With 2 others
- **Jun** **[Harper](https://millionrounds.com/company/harper)** Venture · US **Undisclosed** Sole investor

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 **14 named**

BH **Brian Harris Axelrad** Member, Service Provider Capital Midwest Fund I GP, LLC i Form ADV

BM **Brian Michael Gordon** Managing Director and Member, Service Provider Capital Southeast Fund II GP, LLC i Form ADV

DS **Doug Spear** Managing Director and Member, Service Provider Capital Southeast Fund I GP, LLC i Form ADV

EB **Edward B Hill** Managing Director and Member, Service Provider Capital Southeast Fund I GP, LLC i Form ADV

GR **Galen Richard Mason** Managing Director and Member, Service Provider Capital Midwest Fund I GP, LLC i Form ADV

JE **John Edward Vihstadt** Member, Service Provider Capital Rocky Mountain Fund II GP, LLC i Form ADV

JE **Joseph Eugene Shepherd** MANAGING DIRECTOR OF THE GENERAL PARTNER (THE ""GENERAL PARTNER"") i Filing they signed

LP **Lorena Pickle Allen** Managing Director and Member, Service Provider Capital Texas Fund I GP, LLC i Form ADV

NH **Ned Hill** MANAGING DIRECTOR i Filing they signed

NP **Noah Pittard** SPECIAL ADVISER TO THE GENERAL PARTNER i Filing they signed

PJ **Patrick John Cerone** Managing Director and Member, Service Provider Capital Midwest Fund II GP, LLC i Form ADV

PJ **Philip John Gager** Managing Director and Member, Service Provider Capital New England Fund I GP, LLC i Form ADV

ST **Stefan Taylor Spazek** Managing Director and Member, Service Provider Capital New England Fund I GP, LLC i Form ADV

WT **William Thomas Hahn** Managing Director and Member, Service Provider Capital Rocky Mountain Fund III GP, LLC i Form ADV

We also hold **17** 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

**$39M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Service Provider Capital, LLC
- **SEC number:** CRD 174240

## What they claim to have backed

From their own portfolio page (on their website)

**41** of 60 we have independently watched raise

[Babbl Labs](https://millionrounds.com/company/babbl-labs)[Baseline](https://millionrounds.com/company/baseline)[BioReact](https://millionrounds.com/company/bioreact)[Bonsai Data Solutions](https://millionrounds.com/company/bonsai-data-solutions)[BoodleBox](https://millionrounds.com/company/boodlebox)[BoomBand](https://millionrounds.com/company/boomband)[Chief Rebel](https://millionrounds.com/company/chief-rebel)[Concorda](https://millionrounds.com/company/concorda)[Dannce](https://millionrounds.com/company/dannce-ai)[DataBentox2_edited](https://millionrounds.com/company/databento)[Devplan](https://millionrounds.com/company/devplan)[Entravia](https://millionrounds.com/company/entravia)[Evolv](https://millionrounds.com/company/evolv)[FoodMaven](https://millionrounds.com/company/foodmaven)[Great Sky](https://millionrounds.com/company/great-sky)[Greenlight](https://millionrounds.com/company/greenlight)[Greenshoe](https://millionrounds.com/company/greenshoe)[Kin Logo_edited_edited](https://millionrounds.com/company/kin-insurance)[Nanopath](https://millionrounds.com/company/nanopath)[Narratize](https://millionrounds.com/company/narratize)[Neuromorphic Labs](https://millionrounds.com/company/neuromorphic-labs)[Oprox](https://millionrounds.com/company/oprox)[Pavewise](https://millionrounds.com/company/pavewise)[Prediction Guard](https://millionrounds.com/company/prediction-guard)[Redcanary](https://millionrounds.com/company/red-canary)[Roz](https://millionrounds.com/company/roz)[Science on Call](https://millionrounds.com/company/science-on-call)[Sondermind](https://millionrounds.com/company/sondermind)[Stord](https://millionrounds.com/company/stord)[Sublynk](https://millionrounds.com/company/sublynk)[Swept](https://millionrounds.com/company/swept-ai)[Tomahawkrobotics](https://millionrounds.com/company/tomahawk-robotics)[Truentity Health](https://millionrounds.com/company/truentity-health)[TrustClarity](https://millionrounds.com/company/trustclarity)[Venice AI](https://millionrounds.com/company/venice-ai)[Xenops](https://millionrounds.com/company/xenops)[Z-Polymers](https://millionrounds.com/company/z-polymers)[ZioSec](https://millionrounds.com/company/ziosec)[e6118db1254444a0b89e5c25d2f1c038.avif](https://millionrounds.com/company/carta)[e6118db1254444a0b89e5c25d2f1c038.avif](https://millionrounds.com/company/loft-orbital)[slip_robotic](https://millionrounds.com/company/slip-robotics) Alpyne Labs Avery Therapeutics BDR Labs BOPA Precision Agriculture Callers AI CircNova CloudCapsule Codebreaker Digit Software Divinix Labs DBA Maximum FlexRadio GEN1 Gatherset Heartbeat Impruve Juice Runners Kenkou AI Lakril Technologies Corporation Lexful, Inc and 40 more

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$2.3M**

raised in Nov 2023

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 **$3.6M** the round, not its cheque Alone, median **$3.6M**

Led 0 of 165 rounds **0%**

- **Sole investor:** 16 rounds
- **Last cheque:** Aug 2026

Rounds by stage said on their site

- Seed said *58*
- Venture *40*
- Series A said *31*
- Series B said *11*
- Pre-seed said *10*
- Debt *6*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Techstars](https://millionrounds.com/fund/techstars) 17
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 7
- [Kickstart](https://millionrounds.com/fund/kickstart) 7
- [M25](https://millionrounds.com/fund/m25) 7
- [Access Venture Partners](https://millionrounds.com/fund/access-venture-partners) 6
- [Correlation Ventures](https://millionrounds.com/fund/correlation-ventures) 6

**Pitching Service Provider Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Service Provider Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Techstars** VC firm **17** rounds together](https://millionrounds.com/fund/techstars)[**Alumni Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Kickstart** VC firm **7** rounds together](https://millionrounds.com/fund/kickstart)[**M25** VC firm **7** rounds together](https://millionrounds.com/fund/m25)[**Access Venture Partners** VC firm **6** rounds together](https://millionrounds.com/fund/access-venture-partners)[**Correlation Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/correlation-ventures)[**Epic Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/epic-ventures-2)[**Stout Street Capital** VC firm **6** rounds together](https://millionrounds.com/fund/stout-street-capital)[**Origin Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/origin-ventures)[**Album VC** VC firm **4** rounds together](https://millionrounds.com/fund/album)[**Corazon Capital** VC firm **4** rounds together](https://millionrounds.com/fund/corazon-capital)[**Everywhere Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/everywhere-ventures)

## Recently backed

The latest companies Service Provider Capital put money into.

[**Outside** $50M · Aug 2026](https://millionrounds.com/company/outside)[**Everee** $4.5M · Apr 2026](https://millionrounds.com/company/everee)[**Boomband** $4.0M · Feb 2026](https://millionrounds.com/company/boomband)[**RouteSense** $2.0M · Jan 2026](https://millionrounds.com/company/routesense)[**Klearly** $14M · Jan 2026](https://millionrounds.com/company/klearly)[**Codoxo** $35M · Dec 2025](https://millionrounds.com/company/codoxo)

## Mentioned on podcasts

Episodes that name Service Provider Capital in their description, not their title.

- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 18 Nov 2016 · 38 min 117. Index Investing, Mastering Dealflow & Seeing Everything at Series A, Part 2 (Galen Mason & Brian Axelrad) With [Galen Mason](https://millionrounds.com/person/galen-mason) Mentions [Service Provider Capital](https://millionrounds.com/fund/service-provider-capital) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 16 Nov 2016 · 36 min 116. Index Investing, Mastering Dealflow & Seeing Everything at Series A, Part 1 (Galen Mason & Brian Axelrad) With [Galen Mason](https://millionrounds.com/person/galen-mason) Mentions [Service Provider Capital](https://millionrounds.com/fund/service-provider-capital) Apple PodcastsShow page

## Quick answers about Service Provider Capital

### What does Service Provider Capital invest in?

Service Provider Capital invests most often at Seed and Venture (63% of the rounds on record), in sectors such as Advertising, Enterprise Software and Fintech.

### How active is Service Provider Capital?

165 investments on record, 12 of them in the last 12 months. The most recent was in Aug 2026.

### What has Service Provider Capital invested in recently?

Its most recent investments on record: Outside (Debt, Aug 2026), Everee (Venture, Apr 2026) and Boomband (Seed, Feb 2026).

### How big are Service Provider Capital's cheques?

The median round it joins is $3.6M.

### Does Service Provider Capital lead rounds?

Rarely, if at all: none of its 165 investments on record names it as the lead.

### Where does Service Provider Capital invest?

Most of the companies it backs are in the United States (97%).

### Is Service Provider Capital investing now?

Yes: it is actively investing, with 12 investments in the last 12 months.

### Who does Service Provider Capital invest alongside?

Most often Techstars (17 rounds together), Alumni Ventures (7 rounds together) and Kickstart (7 rounds together).

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