About Mountain State Capital
Mountain State Capital is a venture capital firm founded in 2001. It is primarily based out of Morgantown, United States. As of Aug 2023, Mountain State Capital has invested in 24 companies. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Life Sciences and Enterprise Applications. Most recently it led the $5M Seed round of CAIRA Surgical along with Haventure. This round also saw participation from Avania and other investors.
A lot of funds co-invest with Mountain State Capital, with names like Innovation Works sharing a substantial percentage of its portfolio.
Mountain State Capital has team of 2 people including 2 partners.
Key Metrics
Team Members
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Portfolio Count
Gridwise, &
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Mountain State Capital's Year-on-Year Investment Trends
Mountain State Capital has invested in 24 companies over the last 7 years, with an average of 1 new investment annually in the last 5 years. Its most recent first time investment was in Nanochon and most recent follow-on round was in Aspinity.
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 3 | 1 | 4 |
2022 | 2 | 1 | 3 |
2021 | 0 | 0 | 0 |
2020 | 2 | 2 | 4 |
2019 | 2 | 0 | 2 |
2018 | 1 | 0 | 1 |
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Mountain State Capital's Investments by Stage
Mountain State Capital has made 6 investments in Seed stage with an average round size of $2.85M and 4 investments in Series A stage with an average round size of $5.21M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Seed | 6 |
Series A | 4 |
Mountain State Capital's Investments by Sector
Mountain State Capital has a diverse portfolio, with companies operating in the High Tech, Enterprise Applications, Sustainability Tech, Environment Tech and HealthTech. Notably, it has invested in 19 Tech companies, 18 Enterprise (B2B) companies, 8 Software companies and at least 7 companies focusing on Tech hardware.
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
High Tech | 5 |
Enterprise Applications | 3 |
Sustainability Tech | 3 |
Environment Tech | 2 |
HealthTech | 2 |
Others | 15 |
Mountain State Capital's Investments by Geography
Mountain State Capital has made most investments in United States (10).
Mountain State Capital's recent investments
Here are the most recent investments by Mountain State Capital:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 15, 2023 | United States | Seed | $4M | ||
Jul 25, 2023 | United States | Series B | $10.9M | Anzu Partners [+2] | |
Jul 19, 2023 | United States | Series A | $5.5M | ||
Jan 23, 2023 | United States | Series A | $4M | [+6] | |
May 26, 2022 | United States | Series A | $12.7M | Autotech Ventures [+7] |
Get the detailed list of all investments by Mountain State Capital. Download now!Team profile of Mountain State Capital
Mountain State Capital has a team of 2 membersÌý¾±²Ô³¦±ô³Ü»å¾±²Ô²µ 2 PartnersÌýlocated in United States. Mountain State Capital's team does not sit on the board of any company as of now.Co-investors of Mountain State Capital
Over the past 7 years, 61 investors have co-invested in Mountain State Capital's portfolio companies.
- Invested before Mountain State Capital:ÌýNational Science Foundation, Techstars and 12 others have invested in rounds before Mountain State Capital. There are 3 companies where National Science Foundation has invested before Mountain State Capital and 2 companies where Techstars has invested before Mountain State Capital.
- Top Co-investors of Mountain State Capital:Ìý35 investors entered a company along with Mountain State Capital. These include investors like Innovation Works (3 companies).
- Invested after Mountain State Capital:ÌýA total of 12 investors have invested in Mountain State Capital's portfolio after their investments. Top Investors include Autotech Ventures (1 company), (1 company) and Scribble Ventures (1 company).
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Recent News related to Mountain State Capital
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Business Wire•May 06, 2024•Nanochon, Alumni Ventures, Mountain State Capital, University of Virginia and 1 other
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Silicon Valley Journals•Sep 19, 2023•Aspinity, Anzu Partners, Birchmere Ventures, Mountain State Capital and 2 others
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FinSMEs•Jul 20, 2023•InspectionGo, , Ben Franklin Technology Partners, Wasatch Equity Partners and 3 others
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