# Stage 2 Capital: portfolio, investments and team

> Stage 2 Capital is a vc firm based in United States. 78 investments on record, 15 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/stage-2-capital (Millionrounds; every figure on the page links to its filing or article)

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

# Stage 2 Capital

Last cheque observed Sep 2026; 78 cheques on record.

Email

Deploying now New fund $2.9M, Jul 2024 VC firm

Pre-seed Seed Series A Enterprise Productivity Tools Smb

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

Deploying now

**79%** of best year **15** **cheques in 12 months**, 78 on record

Since the last cheque **45** days **00** hrs **00** min **00** sec

Median round **$7.4M** Cheque size, as they say **$200K – $5.0M** Rounds led **0 of 78** Sole investor **5 rounds** Mostly in **United States, 85%**

Pitch Stage 2 Capital

## Stage 2 Capital highlights

- 01 15 cheques in the last 12 months
- 02 Mostly Seed and Series A: 66% of its rounds
- 03 Sole investor in 5 rounds, median $4.5M

## What they do

> We write $200K-$5M checks into pre-seed to Series A B2B and AI startups. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $200K – $5.0M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Enterprise Productivity Tools Smb
- **Based in:** Virtual, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **78 appearances**

- **2026** 13 rounds
- **Sept** **[Scaffold](https://millionrounds.com/company/scaffold)** Seed · US · Ventureburn **$15M** With 6 others
- **Sept** **[HelmGuard AI](https://millionrounds.com/company/helmguard-ai)** Seed · GB **$7.3M** With 4 others
- **Aug** **[Axle Labs](https://millionrounds.com/company/axle-labs)** Series A · US **$18M** With 4 others
- **Aug** **[ChampionHQ](https://millionrounds.com/company/championhq)** Seed · US **$4.8M** With 2 others
- **May** **[Upwell](https://millionrounds.com/company/upwell)** Venture · US **Undisclosed** With 4 others
- **Apr** **[Meaningful Gigs](https://millionrounds.com/company/meaningful-gigs)** Venture · US **$3.5M** With 2 others
- **Mar** **[Order](https://millionrounds.com/company/order)** US · AlleyWatch **$7.1M** With 4 others
- **Mar** **[MedScout](https://millionrounds.com/company/medscout)** Growth · US · LiveOak Ventures **$10M** With 4 others
- **Feb** **[Slang AI](https://millionrounds.com/company/slang-ai)** Series B · US · Ventureburn **$36M** With 8 others
- **Feb** **[Letter AI](https://millionrounds.com/company/letter-ai)** Series B · US · Ventureburn **$40M** With 5 others
- **Feb** **[Veremark](https://millionrounds.com/company/veremark)** Series B · GB · Gresham House Ventures **$26M** With 6 others
- **Feb** **[Day AI](https://millionrounds.com/company/day-ai)** Series A · US **$20M** With 6 others
- **Feb** **[OPUS](https://millionrounds.com/company/opus)** Series B · US **$9.0M** With 3 others
- **2025** 15 rounds
- **Dec** **[Steelhead Technologies](https://millionrounds.com/company/steelhead-technologies)** Growth · US **$84M** With 1 other
- **Nov** **[TACMIND](https://millionrounds.com/company/tacmind)** Seed · ES **$2.8M** Sole investor
- **Oct** **[Basis Theory](https://millionrounds.com/company/basis-theory)** Series B · US **$33M** With 4 others
- **Sept** **[Fiveonefour](https://millionrounds.com/company/fiveonefour)** Series A · US **$17M** With 2 others
- **Sept** **[Tie](https://millionrounds.com/company/tie)** Series A · US **$10M** Sole investor
- **Sept** **[Curated For You](https://millionrounds.com/company/curated-for-you)** Seed · US **$8.3M** With 3 others
- **Aug** **[OneCrew Software](https://millionrounds.com/company/onecrew-software)** Series A · US **$7.5M** With 1 other
- **Jul** **[Aldoa](https://millionrounds.com/company/aldoa)** Seed · US **$3.8M** With 2 others
- **Jun** **[Occupier](https://millionrounds.com/company/occupier)** Venture · US **$16M** With 2 others
- **Jun** **[Rally UXR](https://millionrounds.com/company/rally-uxr)** Series A · US **$11M** With 3 others
- **May** **[Korl](https://millionrounds.com/company/korl)** Seed · US **$5.0M** With 2 others
- **Mar** **[Auxia](https://millionrounds.com/company/auxia)** Series A · US **$24M** With 3 others
- **Feb** **[tofu](https://millionrounds.com/company/tofu)** Series A · CA **$12M** With 5 others
- **Jan** **[Reibus](https://millionrounds.com/company/reibus)** Venture · US **Undisclosed** With 7 others
- **Jan** **[Athenic AI](https://millionrounds.com/company/athenic-ai)** Seed · US **$4.3M** With 3 others
- **2024** 14 rounds
- **Nov** **[Bevz](https://millionrounds.com/company/bevz)** Venture · US **$6.1M** With 3 others
- **Oct** **[Auquan](https://millionrounds.com/company/auquan)** Seed · GB **$4.5M** With 6 others
- **Oct** **[Persana AI](https://millionrounds.com/company/persana-ai)** Seed · US **$2.3M** With 2 others
- **Sept** **[ChampionHQ](https://millionrounds.com/company/championhq)** Seed · US **$3.3M** With 2 others
- **Sept** **[Restoke](https://millionrounds.com/company/restoke)** Seed · AU **$3.5M** With 2 others
- **Jul** **[Gigpro](https://millionrounds.com/company/gigpro)** Series A · US · Foundry Group **$16M** With 3 others
- **Jul** **[Momentum](https://millionrounds.com/company/momentum)** Series A · US **$13M** With 3 others
- **Jul** **[nodaFi](https://millionrounds.com/company/nodafi)** Seed · US **$3.5M** With 3 others
- **Jun** **[DayZero](https://millionrounds.com/company/dayzero)** Pre-seed · US **$125K** With 1 other
- **Jun** **[Pear Commerce](https://millionrounds.com/company/pear-commerce)** Series A · US **$10M** With 2 others
- **May** **[Blerp](https://millionrounds.com/company/blerp)** Series A · US **$2.4M** With 4 others
- **May** **[Metaplane](https://millionrounds.com/company/metaplane)** Venture · US **Undisclosed** With 4 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**

JP **Jay Po** Managing Member of the Manager i Filing they signed

MR **Mark Roberge** Managing Partner i Filing they signed

We also hold **57** 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

**$354M** gross assets of its funds Oct 2026

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

- **Legal name:** Stage 2 Capital Advisors, LLC
- **SEC number:** CRD 314199

## What they claim to have backed

From their own portfolio page (on their website)

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

Gtm

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

**$2.9M**

raised in Jul 2024

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 **$7.4M** the round, not its cheque Alone, median **$4.5M**

Led 0 of 78 rounds **0%**

- **Said size:** $200K – $5.0M
- **Sole investor:** 5 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *27*
- Series A said *20*
- Venture *12*
- Series B said *9*
- Pre-seed said *3*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 7
- [Techstars](https://millionrounds.com/fund/techstars) 5
- [500 Global](https://millionrounds.com/fund/500-startups) 3
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 3
- [Everywhere Ventures](https://millionrounds.com/fund/everywhere-ventures) 3
- [FJ Labs](https://millionrounds.com/fund/fj-labs) 3

**Pitching Stage 2 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 Stage 2 Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Y Combinator** Accelerator **7** rounds together](https://millionrounds.com/fund/y-combinator)[**Techstars** VC firm **5** rounds together](https://millionrounds.com/fund/techstars)[**500 Global** Angel **3** rounds together](https://millionrounds.com/fund/500-startups)[**Alumni Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Everywhere Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/everywhere-ventures)[**FJ Labs** VC firm **3** rounds together](https://millionrounds.com/fund/fj-labs)[**Flybridge** VC firm **3** rounds together](https://millionrounds.com/fund/flybridge)[**Gaingels** Private equity **3** rounds together](https://millionrounds.com/fund/gaingels)[**Gradient** VC firm **3** rounds together](https://millionrounds.com/fund/gradient-ventures)[**SaaS Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/saas)[**Underscore VC** VC firm **3** rounds together](https://millionrounds.com/fund/underscore-vc)[**ATX Venture Partners** VC firm **2** rounds together](https://millionrounds.com/fund/atx-venture-partners)

## Recently backed

The latest companies Stage 2 Capital put money into.

[**HelmGuard AI** $7.3M · Sept 2026](https://millionrounds.com/company/helmguard-ai)[**Upwell** May 2026](https://millionrounds.com/company/upwell)[**Meaningful Gigs** $3.5M · Apr 2026](https://millionrounds.com/company/meaningful-gigs)[**MedScout** $10M · Mar 2026](https://millionrounds.com/company/medscout)[**Letter AI** $40M · Feb 2026](https://millionrounds.com/company/letter-ai)[**Veremark** $26M · Feb 2026](https://millionrounds.com/company/veremark)

## Quick answers about Stage 2 Capital

### What does Stage 2 Capital invest in?

Stage 2 Capital invests most often at Seed and Series A (66% of the rounds on record), in sectors such as Enterprise, Productivity Tools and Smb.

### How active is Stage 2 Capital?

78 investments on record, 15 of them in the last 12 months. The most recent was in Sept 2026.

### What has Stage 2 Capital invested in recently?

Its most recent investments on record: Scaffold (Seed, Sept 2026), HelmGuard AI (Seed, Sept 2026) and Axle Labs (Series A, Aug 2026).

### How big are Stage 2 Capital's cheques?

The median round it joins is $7.4M. It says it writes cheques of $200K to $5.0M.

### Does Stage 2 Capital lead rounds?

Rarely, if at all: none of its 78 investments on record names it as the lead.

### Where does Stage 2 Capital invest?

Most of the companies it backs are in the United States (85%) and the United Kingdom (8%).

### Is Stage 2 Capital investing now?

Yes: it is actively investing, with 15 investments in the last 12 months.

### Who does Stage 2 Capital invest alongside?

Most often Y Combinator (7 rounds together), Techstars (5 rounds together) and 500 Global (3 rounds together).

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