Mountain State Capital
Venture capitalMorgantown · Seed–Series A · 4 people tracked
Investment thesis
Mountain State Capital invests once a company has achieved product-market fit and is ready to scale, backing software, hardware, services and life sciences teams pursuing ideas capable of disrupting billion-dollar markets. Initial checks of $200,000-$500,000 typically form part of a larger $1M-$5M seed round providing at least 18 months of runway, with capital reserved for follow-on rounds in top performers. The firm focuses geographically on companies within a roughly six-hour drive of its Pittsburgh, PA and Morgantown, WV offices, targeting West Virginia, central and western Pennsylvania, eastern Ohio, eastern Kentucky, western Maryland, western Virginia, western North Carolina and eastern Tennessee.
Source: firm website, verified Aug 7, 2026.
Team · 4 people
from the firm's website & public directories
What they invest in
from 4 of 5 portfolio companiesFuture of Work ×2SaaS ×2AI & Machine Learning ×1B2B Marketplaces ×1Biotech ×1Data & Infrastructure ×1EdTech ×1Hardware ×1
HQs:United States×4
Investments · 5 tracked
founders shown can be your intro path
Aspinity designs analog processing chips that enable near-zero power AI systems using its AnalogML technology.
AI & Machine LearningHardwareIoTSemiconductorsMorgantown, US
Brandon Rumberg(Executive Officer)inThomas Doyle(Executive Officer, Director)Richard Hegberg(CEO)inThomas P. Beckley(Director)
BoardNed Renzi(Director)
Co-investorsAnzu PartnersBantam GroupBirchmere VenturesNew Stack VenturesNewlin VenturesRiverfront Ventures, LLC+2 more
Gridwise provides a platform for gig workers across delivery, rideshare, and courier services to track earnings, understand performance, and access market intelligence across multiple apps.
B2B MarketplacesData & InfrastructureFuture of WorkMobility & TransportationSaaSPittsburgh, US
Brian Finamore(Executive Officer, Director, Promoter)inRyan Green(Executive Officer, Director, Promoter)in
BoardPaul Arnold(Director)inMatthew Harbaugh(Director)
Co-investorsAutotech VenturesBeni Venture CapitalBlueTree Venture CapitalCrosslink CapitalRiverfront Ventures, LLCScribble Ventures+7 more
iGo (InspectionGo) provides technology, training, and backend services for home inspection companies, aimed at improving the inspection experience for property owners, homeowners, and real estate agents.
EdTechFuture of WorkPropTechSaaSTyrone, US
Celeste Starchild(Executive Officer)Christian Adams(Executive Officer, Director)John Russell(Executive Officer, Director, Promoter)Mark Wise(Executive Officer, Director, Promoter)Chad Hett(Director, Promoter)William Russell(Executive Officer, Director, Promoter)
Co-investorsBlueTree Venture CapitalHamilton VenturesWasatch Equity Partners
Peptilogics is a clinical-stage surgical therapeutics company developing zaloganan (PLG0206), a novel anti-biofilm drug to treat and prevent medical device-related infections such as prosthetic joint infections.
BiotechHealthtechMedical DevicesPittsburg, US
Jonathan Steckbeck(Executive Officer, Director)in
BoardStephan Dietrich(Director)in
Co-investorsAAF Management Ltd.Alpha Wave GlobalAMR Action FundNarya CapitalRiverfront Ventures, LLCTachyon Ventures+5 more
Portfolio news
latest coverage across their companies
Gridwise · fortuneindia.com · Jul 17, 2026
Peptilogics · nasdaqprivatemarket.com · Oct 28, 2025
Frequently asked questions
- What stage does Mountain State Capital invest at?
- Mountain State Capital invests at the Seed, Series A stages.
- What is Mountain State Capital's typical check size?
- Mountain State Capital typically writes checks of $200K – $500K.
- What sectors does Mountain State Capital focus on?
- Mountain State Capital focuses on Biotech, Enterprise Software, Media & Entertainment, Medical Devices, SaaS, Sector Agnostic.
- Where is Mountain State Capital located?
- Mountain State Capital is headquartered in Morgantown, US.
- Who does Mountain State Capital co-invest with?
- Mountain State Capital most often shares deals with BlueTree Venture Capital, Riverfront Ventures, LLC, Crosslink Capital, among 14 tracked co-investors.
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