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Bonsal Capital

Venture capital

Baltimore · Seed · 1 people tracked

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Investment thesis

Bonsal Capital invests at the seed stage in education and workforce technology companies, viewing early funding as essential to a healthy entrepreneurship ecosystem. The firm emphasizes finding, mentoring, and supporting founders, positioning itself as a hands-on partner that brings deep industry knowledge and networks. A central pillar of its strategy is diversity, equity, and inclusion, with concerted efforts to invest in and support underrepresented founders, company leaders, and emerging venture managers. Beyond capital, the firm acts as an impact partner, opening doors to prospects and investors and helping companies grow so they can better serve their end users and customers.

Source: firm website, verified Aug 3, 2026.

Stage
Seed
Check
$50K – $250K
HQ
Baltimore, MD, US
Leads rounds
Follows
Instruments
Equity
Founded
1999
Tracked investments
11

Team · 1 people

from public directories

What they invest in

from 6 of 11 portfolio companies

EdTech ×5SaaS ×4Enterprise Software ×2AI & Machine Learning ×1Data & Infrastructure ×1Fintech ×1Mental Health ×1

HQs:United States×3India×1

Investments · 11 tracked

founders shown can be your intro path

By year:2021 · 12020 · 12019 · 22018 · 12015 · 12009 · 17 dated

Calvert Education ServicesinMar 2018SEC filingmedium confidence

Provider of K-12 distance learning curriculum and educational support services worldwide.

Hunt Valley, US

Steve L Gross(Chief Executive Officer)inPamela Chelden(Chief Financial Officer)Robert Henninger, Jr.(Director)Scott Soffen(Director)John Commack(Director)William Harrison(Director)

Board seatFrank Bonsal· per SEC Form D · $14.2M raise · filed Mar 2018

Co-investorsCamden Partners

Better Lessonbetterlesson.cominMar 2009 · $260K

BetterLesson provides instructional coaching and professional development services to K-12 school districts, focusing on curriculum implementation, distance learning adaptation, and educator capacity building.

EdTechCambridge, US

Alexander Grodd(Executive Officer, Director, Promoter)Erin Osborn(Executive Officer)in

BoardJennifer Carolan(Director)inVinay Seth Mohta(Director)in

Co-investorsNew Ground VenturesOwl VenturesNew Markets Venture Partners

Coursearccoursearc.cominFeb 2020

CourseArc is a content authoring and management system that enables organizations to collaboratively create accessible, engaging online learning content.

EdTechSaaSBaltimore, US

Katie Egan(Chief Executive Officer and co-founder)Bethany Meyer(Chief Technology Officer and co-founder)

elabseverydaylabs.comin𝕏

EveryDay Labs provides behavioral science-based tools and family support services to help schools improve student attendance.

EdTechEnterprise SoftwareSaaS

Todd Rogers(Co-founder & Chief Scientist)in

Co-investorsCity LightRethink ImpactEdovate Capital

Infercabularyinfercabulary.comin𝕏Jun 2019

InferCabulary is a visual vocabulary instruction and intervention tool for grades 3-12 that teaches Tier 2 academic words through real-world images and semantic-reasoning tasks rather than memorized word lists.

AI & Machine LearningEdTech

Co-investorsMaryland TEDCOTEDCOUniversity System of Maryland Momentum Fund

Upswingupswing.onein

Upswing provides technology infrastructure enabling companies to offer embedded financial products.

Data & InfrastructureEnterprise SoftwareFintechSaaS

Nihar Gupta(Founder)inAnupam Bagchi(Founder)

Co-investorsBetter CapitalQED InvestorsQuona CapitalIndia Foundation Fund Series I (A Scheme Of Multiply Ventures IndiaTitan CapitalAmara VC+2 more

Upswingupswing.ioin𝕏Series A · Mar 2021 · $5M

Upswing offers a wraparound student services platform that supports higher education students with academic help, mental health, basic needs, advising, and on-demand information to improve retention rates.

EdTechMental HealthSaaS

Alex Pritchett(Founder)in

Co-investorsCharlotte Angel FundImpact America FundNex CubedTech WildcattersAmara VCBetter Capital+2 more

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Everyday LabsStudent Opportunity CenterTabtor MathTorchlight

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Frequently asked questions

How many investments has Bonsal Capital made?
Bonsal Capital has 11 tracked investments.
What stage does Bonsal Capital invest at?
Bonsal Capital invests at the Seed stage.
What is Bonsal Capital's typical check size?
Bonsal Capital typically writes checks of $50K – $250K.
What sectors does Bonsal Capital focus on?
Bonsal Capital focuses on EdTech, Future of Work, HR Tech, Impact & Social Good.
Where is Bonsal Capital located?
Bonsal Capital is headquartered in Baltimore, US.
Does Bonsal Capital lead rounds?
Bonsal Capital typically participates in rounds rather than leading them.

Images

Bonsal Capital photo

Co-investors · 9

Owl Ventures

Owl Ventures is a Silicon Valley-based venture capital firm with over $2 billion in assets under management that invests in education technology companies serving PreK-12, higher education, career mobility, and professional learning sectors. The firm also invests in companies at the intersection of education technology and other industries.

Both backed · 1
$5M – $50M
New Markets Venture Partners

New Markets Venture Partners is an impact-focused venture firm that invests in mission-driven education and workforce technology companies aiming to improve economic mobility for underserved Americans.

Both backed · 1
$200K – $1.5M
Rethink Education

Rethink Education is a venture capital firm backing early-stage founders building companies that expand access to opportunity and economic mobility across education, workforce, health equity, and financial inclusion.

Both backed · 1
Sequoia Capital

Sequoia Capital is a venture capital firm that partners with founders to build technology companies.

$100K – $50M
Menlo Ventures

Menlo Ventures is an early-stage venture capital firm backing transformative technology companies, with a strong current emphasis on artificial intelligence across enterprise, healthcare, and consumer markets.

$1M – $20M
Bling Capital

Bling Capital is a seed-stage venture firm that helps entrepreneurs find and scale product-market fit, backed by a Product Council of 100+ product leaders.

$1M – $5M
Two Sigma Ventures

Two Sigma Ventures has rebranded and is now known as Deviation Capital; the page directs visitors to the new website.

$2M – $15M
Reach Capital

Reach Capital is an early-stage venture firm that partners with founders building companies in learning, health, and work.

$100K – $12M

Firms observed investing alongside Bonsal Capital, from public investor directories. Shared companies are the overlap with Bonsal Capital's recorded portfolio.

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