Investors / United States / MHS Capital
MHS Capital
Venture capital · San Francisco, CA, United States · North America
MHS Capital is a seed-stage investment firm that has been investing since 1996. Its portfolio includes companies such as Applifier, SendCutSend, OpenRouter, Udemy, Thumbtack, Opower, Grove, Outreach, MOAT, Zenput and ConsumerAffairs.
Invests inAI & Machine Learning
In its own wordsseed investingmarketplacessaasconsumeraimobile gaming
Your fit with MHS Capital
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsMHS Capital lists 12 checked portfolio companies on its own site and is named in 3 funding rounds, 1 of them as lead. Its most frequent entry is Seed, 100% of the companies with a known first round. Its largest themes are AI & Machine Learning (33%), Space & Defense (13%) and Consumer (13%). 100% of its companies are based in United States. It invests most often alongside Sequoia Capital, Bullpen Capital and CapitalG.
Counts come from funding rounds that name MHS Capital, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not MHS Capital's whole history. Rounds on record name 3 companies; its own site lists 12. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundShow as a table
| Value | |
|---|---|
| Pre-seed | 0% |
| Seed | 100% |
| Series A | 0% |
| Series B | 0% |
| Growth | 0% |
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 0 | 0 |
| '22 | 0 | 0 |
| '23 | 0 | 0 |
| '24 | 0 | 0 |
| '25 | 2 | 1 |
| '26 | 1 | 0 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 27th | 11 companies |
| Recent activity | 59th | 1 rounds in 12 months |
| Early stage | 100th | 100% of entries at pre-seed or seed |
| Evidence | 52th | 0% of companies confirmed by a round |
| Sector focus | 62th | 33% in its largest sector |
| Reach | 19th | 1 country |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| AI & Machine Learning | 33% | 18% |
| Space & Defense | 13% | 3% |
| Consumer | 13% | 3% |
| Industrial & Manufacturing | 7% | 7% |
| Real Estate & Construction | 7% | 3% |
| E-commerce & Marketplaces | 7% | 6% |
| Enterprise Software | 7% | 8% |
| Legal & Compliance | 7% | 2% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Sequoia Capital | 4 |
| Bullpen Capital | 2 |
| CapitalG | 2 |
| Elevate Ventures | 2 |
| Founders Circle Capital | 2 |
| General Atlantic | 2 |
| Glynn Capital | 2 |
| NextView Ventures | 2 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers12100%
- No longer answers00%
- Points to another company00%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherCompare MHS Capital head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Recent portfolio activity
when companies last raised with MHS Capital| Date | Company | Stage |
|---|---|---|
| 21 Apr 2026 | Seed | |
| 20 Oct 2025 | Round | |
| 6 Oct 2025 | Seed Led |
Round details for MHS Capital
Amounts, full round histories and every co-investor in MHS Capital's rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
12 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| Aline develops and provides legal AI software for contract management and analysis | Legal & ComplianceAI & Machine Learning | Oct 2025Seed | Funding round | |
| The company provides a platform for consumers to research and review various products and services | Consumer | Portfolio page | ||
| Grove Collaborative sells home essentials and cleaning products | Consumer | Portfolio page | ||
| OpenRouter provides a unified interface for accessing and using various artificial intelligence models | AI & Machine LearningSpace & Defense | Portfolio page | ||
| Portfolio page | ||||
| Outreach provides software for revenue teams to manage sales pipelines, forecast revenue, and engage with customers using AI agents. | AI & Machine LearningEnterprise Software | Portfolio page | ||
| The company provides a platform for usage-based billing and governance on a real-time ledger. | FintechSpace & Defense | Apr 2026Seed | Funding round | |
| SendCutSend provides custom sheet metal fabrication services, including cutting, machining, bending, and finishing | Industrial & Manufacturing | Portfolio page | ||
| Seneca builds advanced AI, robotics, and autonomy for firefighting to mitigate disaster and protect civilization | AI & Machine LearningAI & Machine Learning | Oct 2025Round | Funding round | |
| The company connects customers with local professionals for various home services and projects. | Real Estate & ConstructionE-commerce & Marketplaces | Portfolio page | ||
| Portfolio page | ||||
| Unity develops and supports a game engine for building 2D and 3D games and other applications | Enterprise SoftwareGaming | Portfolio page |
About this data
site last read 5 Nov 2026- Site
- mhscapital.com
- Last read
- 5 Nov 2026
- Watching since
- 5 Nov 2026
- Rounds since
- 6 Oct 2025
- Companies checked
- 12
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
Get MHS Capital's profile as data
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