# Sherpa Capital: portfolio, investments and team

> Sherpa Capital is a vc firm based in Spain. 97 investments on record, 1 in the last 12 months, latest Aug 2026. Portfolio, stages, co-investors and team.

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

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

# Sherpa Capital

Last cheque observed Aug 2026; 97 cheques on record.

Email

Deploying now New fund $40K, Nov 2022 VC firm Website unconfirmed

Seed Series A Series B Venture Capital & Private Equity

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

Deploying now

**100%** of best year **1** **cheques in 12 months**, 97 on record

Since the last cheque **65** days **00** hrs **00** min **00** sec

Median round **$28M** Rounds led **0 of 97** Sole investor **15 rounds** Exits **2 from the portfolio** Mostly in **United States, 94%**

Pitch Sherpa Capital

## Sherpa Capital highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Seed and Series A: 70% of its rounds
- 03 Sole investor in 15 rounds, median $4.9M
- 04 2 exits from the portfolio

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Venture Capital & Private Equity
- **Based in:** Madrid, Spain
- **Cold pitches:** Not stated

A website was listed for this organisation, but we could not confirm it belongs to the firm that wrote these cheques. Either the site never mentions them, or it turned out to be a different company sharing the name. We show neither it nor anything read from it. [Tell us the right one](https://millionrounds.com/corrections?slug=sherpa-capital).

## The record

Every round we can evidence, newest first **97 appearances**

- **2026** 1 round
- **Aug** **[AusperBio Therapeutics](https://millionrounds.com/company/ausperbio-therapeutics)** Series C · US · TechStartups **$120M** With 7 others
- **2025** 1 round
- **May** **[AusperBio](https://millionrounds.com/company/ausperbio)** Series B · US · TechStartups **$50M** With 6 others
- **2019** 3 rounds
- **Mar** **[quip](https://millionrounds.com/company/quip)** US · FinSMEs **$40M** With 7 others
- **Jan** **[Yosemite Clinic](https://millionrounds.com/company/yosemite-clinic)** Series B · CN · China Money Network **$15M** With 3 others
- **Jan** **[A&D Fitness](https://millionrounds.com/company/a-and-d-fitness)** Seed · CN · China Money Network **$1.5M** With 5 others
- **2018** 4 rounds
- **Nov** **[quip](https://millionrounds.com/company/quip)** Debt · US · FinSMEs **$40M** With 1 other
- **Aug** **[Brandless](https://millionrounds.com/company/brandless)** Series C · US · FinSMEs **$240M** With 3 others
- **Apr** **[Doctor on Demand](https://millionrounds.com/company/doctor-on-demand)** Series C · US · FinSMEs **$74M** With 8 others
- **Feb** **[Owl](https://millionrounds.com/company/owl)** Series A · US · FinSMEs **$18M** With 6 others
- **2017** 5 rounds
- **Nov** **[Replika](https://millionrounds.com/company/replika)** Series A · US · FinSMEs **$6.5M** With 3 others
- **Nov** **[Quip](https://millionrounds.com/company/quip)** Series A · US · FinSMEs **$10M** With 3 others
- **Sept** **[Carrot Fertility](https://millionrounds.com/company/carrot-fertility)** Seed · US · FinSMEs **$3.6M** With 6 others
- **Mar** **[Munchery](https://millionrounds.com/company/munchery)** US · Bloomberg **$5.0M** With 1 other
- **Jan** **[Radish](https://millionrounds.com/company/radish)** Seed · US · FinSMEs **$3.0M** With 5 others
- **2016** 4 rounds
- **Sept** **[Hired](https://millionrounds.com/company/hired)** **$30M** With 18 others
- **Jul** **[Luxe](https://millionrounds.com/company/luxe)** **$50M** With 38 others
- **Jan** **[PillPack](https://millionrounds.com/company/pillpack)** **$31M** With 23 others
- **Jan** **[Q (Managed by Q)](https://millionrounds.com/company/q-managed-by-q)** **$25M** With 31 others
- **2015** 27 rounds
- **Sept** **[ipsy](https://millionrounds.com/company/ipsy)** Series B · US **$100M** With 1 other
- **Aug** **[Payable](https://millionrounds.com/company/payable)** Seed · US **$2.1M** With 9 others
- **Jul** **[Doctor on Demand](https://millionrounds.com/company/doctor-on-demand)** Series B · US **$63M** With 12 others
- **Jun** **[Managed by Q](https://millionrounds.com/company/managed-by-q)** Series A · US **$15M** With 13 others
- **Jun** **[brightwheel](https://millionrounds.com/company/brightwheel)** Seed · US **$2.2M** With 5 others
- **Jun** **[BloomThat](https://millionrounds.com/company/bloomthat)** Series A · US **$5.5M** With 4 others
- **Jun** **[PillPack](https://millionrounds.com/company/pillpack)** Series C · US **$50M** With 4 others
- **May** **[Munchery](https://millionrounds.com/company/munchery)** Series C **$85M** With 6 others
- **May** **[Thinair](https://millionrounds.com/company/thinair)** US **Undisclosed** Sole investor
- **May** **[OnboardIQ](https://millionrounds.com/company/onboardiq)** Seed · US **$3.3M** With 21 others
- **May** **[MathCrunch](https://millionrounds.com/company/mathcrunch)** Seed · US **$3.5M** With 4 others
- **May** **[truBrain](https://millionrounds.com/company/trubrain)** Seed · US **$1.4M** With 5 others
- **Apr** **[PlateJoy](https://millionrounds.com/company/platejoy)** Seed · US **$1.7M** With 7 others
- **Apr** **[Shyp](https://millionrounds.com/company/shyp)** Series B · US **$50M** With 6 others
- **Apr** **[Hello Alfred](https://millionrounds.com/company/hello-alfred)** Series A · US **$11M** With 3 others
- **Mar** **[Meerkat](https://millionrounds.com/company/meerkat)** Series B · US **$14M** With 21 others
- **Mar** **[CADRE](https://millionrounds.com/company/cadre)** Series A · US **$18M** With 5 others
- **Mar** **[Stance](https://millionrounds.com/company/stance)** Series C · US **$50M** With 6 others
- **Feb** **[Opendoor](https://millionrounds.com/company/opendoor)** Series B · US **$20M** With 6 others
- **Feb** **[Philz Coffee](https://millionrounds.com/company/philz-coffee)** Series B · US **$15M** With 15 others
- **Feb** **[Hyperloop Technologies](https://millionrounds.com/company/hyperloop-technologies)** Series A · US **$11M** With 2 others
- **Feb** **[Reserve](https://millionrounds.com/company/reserve)** Series A · US **$15M** With 12 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**

DC **Daqing Cai** Director i Filing they signed

XO **Xiangyu Ouyang** Director i Filing they signed

We also hold **19** 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

**3+** funds on file numbered funds in its name

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

by Takamaka

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.

## Exits from the portfolio

Companies it backed that were later bought or listed **2 in all**

**[PillPack](https://millionrounds.com/company/pillpack)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **$753M** Jun 2018

**[Fab](https://millionrounds.com/company/fab)** Bought by [PCH International](https://millionrounds.com/fund/pch-international) **$15M** Mar 2015

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$40K**

raised in Nov 2022

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$28M** the round, not its cheque Alone, median **$4.9M**

Led 0 of 97 rounds **0%**

- **Sole investor:** 15 rounds
- **Last cheque:** Aug 2026
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Seed *29*
- Series A *26*
- Series B *13*
- Series C *6*
- Venture *5*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Menlo Ventures](https://millionrounds.com/fund/menlo-ventures) 12
- [Google Ventures](https://millionrounds.com/fund/gv) 10
- [SV Angel](https://millionrounds.com/fund/sv-angel) 7
- [Slow Ventures](https://millionrounds.com/fund/slow-ventures) 7
- [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) 6
- [Crosslink Capital](https://millionrounds.com/fund/crosslink-capital) 5

**Pitching Sherpa 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 Sherpa Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Menlo Ventures** VC firm **12** rounds together](https://millionrounds.com/fund/menlo-ventures)[**Google Ventures** Corporate VC **10** rounds together](https://millionrounds.com/fund/gv)[**SV Angel** VC firm **7** rounds together](https://millionrounds.com/fund/sv-angel)[**Slow Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/slow-ventures)[**Lightspeed Venture Partners** VC firm **6** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Crosslink Capital** VC firm **5** rounds together](https://millionrounds.com/fund/crosslink-capital)[**First Round Capital** VC firm **5** rounds together](https://millionrounds.com/fund/first-round-capital)[**Homebrew** VC firm **5** rounds together](https://millionrounds.com/fund/homebrew)[**Khosla Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/khosla-ventures)[**New Enterprise Associates** VC firm **5** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**QueensBridge Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/queensbridge-venture-partners)[**Redpoint** VC firm **5** rounds together](https://millionrounds.com/fund/redpoint)

## Recently backed

The latest companies Sherpa Capital put money into.

[**AusperBio** $50M · May 2025](https://millionrounds.com/company/ausperbio)[**A&D Fitness** $1.5M · Jan 2019](https://millionrounds.com/company/a-and-d-fitness)[**Brandless** $240M · Aug 2018](https://millionrounds.com/company/brandless)[**Doctor on Demand** $74M · Apr 2018](https://millionrounds.com/company/doctor-on-demand)[**Owl** $18M · Feb 2018](https://millionrounds.com/company/owl)[**Replika** $6.5M · Nov 2017](https://millionrounds.com/company/replika)

## Mentioned on podcasts

Episodes that name Sherpa Capital in their description, not their title.

- [TBPN](https://millionrounds.com/podcasts/tbpn) 13 Jan 2026 · 3h 29m Siri Needs an App, Apple Preps for Post-Cook, Scott Nolan Truth Nuke | Shervin Pishevar, Horacio Rozanski, Glenn Fogel, JD Ross, Nick Fleisher, Rob Slaughter, Sajith Wickramasekara With [Glenn Fogel](https://millionrounds.com/person/glenn-fogel)[Horacio Rozanski](https://millionrounds.com/person/horacio-rozanski)[JD Ross](https://millionrounds.com/person/jd-ross) Mentions [Shervin Pishevar](https://millionrounds.com/fund/shervin-pishevar)[Sherpa Capital](https://millionrounds.com/fund/sherpa-capital) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 13 Jan 2025 · 1h 13m 20VC: Shervin Pishevar on The Epic Uber War and What Really Happened in the Firing of Travis Kalanick | Raising $15BN to Win China | Why The Traditional Venture Capital Model is Dead | The Future of Quantum and How We Will Cure All Diseases in 10 Years Mentions [Shervin Pishevar](https://millionrounds.com/fund/shervin-pishevar)[Travis Kalanick](https://millionrounds.com/fund/travis-kalanick)[Emil Michael](https://millionrounds.com/fund/emil-michael) *+3* Apple PodcastsShow page
- [The Official SaaStr Podcast](https://millionrounds.com/podcasts/saastr) 26 Aug 2016 · 25 min SaaStr 051: Hire Slow & Fire Fast & Why scaling Product Is All About Consistency with Kristen Koh Goldstein @ HireAthena With [Kristen Koh](https://millionrounds.com/person/kristen-koh) Mentions [Google](https://millionrounds.com/fund/google-assistant-investments)[Google Ventures](https://millionrounds.com/fund/gv)[Sherpa Capital](https://millionrounds.com/fund/sherpa-capital) Apple PodcastsShow page

## Quick answers about Sherpa Capital

### What does Sherpa Capital invest in?

Sherpa Capital invests most often at Seed and Series A (70% of the rounds on record), in sectors such as Venture Capital & Private Equity.

### How active is Sherpa Capital?

97 investments on record, 1 of them in the last 12 months. The most recent was in Aug 2026.

### What has Sherpa Capital invested in recently?

Its most recent investments on record: AusperBio Therapeutics (Series C, Aug 2026), AusperBio (Series B, May 2025) and quip (Undisclosed round, Mar 2019).

### How big are Sherpa Capital's cheques?

The median round it joins is $28M.

### Does Sherpa Capital lead rounds?

Rarely, if at all: none of its 97 investments on record names it as the lead.

### Where does Sherpa Capital invest?

Most of the companies it backs are in the United States (94%) and China (6%).

### Is Sherpa Capital investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does Sherpa Capital invest alongside?

Most often Menlo Ventures (12 rounds together), Google Ventures (10 rounds together) and SV Angel (7 rounds together).

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