MHS Capital — Pre-Seed & Seed VC Firm ($250K–$2.0M Checks)
MHS Capital is a Pre-Seed, Seed venture capital firm based in San Francisco, CA investing in SaaS, Enterprise, Developer Tools. The firm typically writes $250K–$2.0M checks and has 46 portfolio companies in our records.
- Check size
- $250K–$2.0M
- Portfolio
- 46 companies on record
- Partners
- 2 listed
- Stage
- Pre-Seed, Seed
- Sectors
- SaaS, Enterprise, Developer Tools
- HQ
- San Francisco, CA
- AUM
- Not in our records
Last verified: 2026-06-14
Pre-Seed, Seed
$250K – $2.0M
46+ companies
2 partners
About MHS Capital
MHS Capital is a venture capital firm headquartered in San Francisco, CA. The firm is an early-stage investor in enterprise SaaS and infrastructure software, including tools that automate and standardize business workflows.
MHS Capital invests at the pre-seed and seed stages. The firm focuses on the sectors of B2B SaaS, Enterprise, Data Infrastructure, Analytics, Infrastructure, and Developer Tools. Typical check size ranges from $250K to $2.0M.
Investment Thesis
Early-stage investor in enterprise SaaS and infrastructure software, including tools that automate and standardize business workflows.
How MHS Capital invests
MHS Capital is a vc firm based in San Francisco, CA. The firm invests at the Pre-Seed, Seed stages, with a focus on SaaS, Enterprise, Developer Tools.
MHS Capital typically writes checks of $250K–$2.0M per investment.
Investing since at least 2022, MHS Capital has backed 46 companies in our records, including OpenRouter, ConsumerAffairs, Grove. Its most recent recorded investment was in 2026, with 2 investments logged in 2026.
Partners & Team
Industry Focus
Invests In
Recent Activity
MHS Capital Partners back in the market for second early-stage fund
Nov 2026 · AltAssets
MHS Capital Partners ST files SEC Form D/A for $55.2M venture fund offering
Oct 2026 · DryPowder
MHS Capital site updates to show OpenRouter M&A pending in 2026
Oct 2026 · MHS Capital
Invested in ConsumerAffairs
2026 · portfolio records
Invested in OpenRouter
2026 · portfolio records
Invested in Zenput
2022 · portfolio records
Invested in Grove
2022 · portfolio records
Investment Track Record
MHS Capital has recorded investments in 46 portfolio companies. The earliest recorded investment year is 2022 and the most recent is 2026. Recorded investments include ConsumerAffairs and OpenRouter in 2026 as well as Grove and Zenput in 2022. Additional recorded investments include Adisn, Applifier, Bizible, Bridge International Academies, Candex, CombatGent, Convertro, CourtTrax, Databricks, Edusoft, and Fonality.
The firm's team consists of Founding General Partner Mark Sugarman, Partner Vijay Nagappan, and Operating Partner Jeremy Kirsch.
Portfolio Companies (46)
2026
OpenRouter
ConsumerAffairs
2022
Grove
Zenput
Other
OPOWER
Platfora
Simply Measured
Thumbtack
Udemy
WeHeartIt
- •Raising at Pre-Seed, Seed? You're squarely in their sweet spot.
- •Lead with your fit in SaaS, Enterprise, Developer Tools — the sectors they actively back.
- •Size your ask to their typical $250K – $2.0M check.
- •Address your outreach to a specific partner, such as Mark Sugarman, Founding General Partner.
- •A warm introduction beats a cold email. Get matched and request an intro.
Featured In
Browse More Investors
Fundraising resources
Frequently Asked Questions
See if MHS Capital is a match for your startup
Upload your pitch deck to see how well you match with MHS Capital and 10,000+ other investors.
Ask your AI assistant about this investor: connect InvestorMatch to Claude or ChatGPT
Is this your profile? Request a correction or removal