/Investor DB

Msd Capital

Family office

New York · Seed–Series B · 5 people tracked

Also known as MSD Partners

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Investment thesis

MSD Capital pursues a multi-disciplinary investment strategy aimed at maximizing long-term capital appreciation. It invests globally across a broad range of asset classes, including the equity of both public and private companies, credit, real estate, and other securities. As the vehicle managing the assets of Michael S. Dell and his family, the firm is not a traditional venture fund but a single-family office with a flexible, long-horizon mandate spanning multiple disciplines and geographies.

Source: firm website, verified Oct 2, 2026.

Stage
Seed–Series B
HQ
New York, US
Instruments
Equity · Debt
Founded
1998
Tracked investments
12
Unicorns
5
IPOs
1
Acquisitions
1

Team · 5 people

from the firm's website & public directories
Alisa Mall· Chief Investment Officer
Gregg Lemkau· Chairmanin
Marc Lisker· President

Founder mafia

2 people who came through Msd Capital went on to found or lead other companies.

What they invest in

from 10 of 12 portfolio companies

AI & Machine Learning ×7Enterprise Software ×7SaaS ×6Developer Tools ×5Cloud Computing ×3Cybersecurity ×2Data & Infrastructure ×1Fintech ×1

HQs:United States×10

Investments · 12 tracked

founders shown can be your intro path

By year:2025 · 12021 · 22019 · 12017 · 15 dated

Gitlabgitlab.comin𝕏NASDAQ: GTLBSeries B

GitLab is an intelligent orchestration platform for DevSecOps that enables teams and AI agents to collaborate on the full software development lifecycle, from planning through deployment, with integrated security and compliance capabilities.

AI & Machine LearningCybersecurityDeveloper ToolsEnterprise SoftwareSan Francisco, US

Sid Sijbrandij(CEO)inDmytro Zaporozhets(CTO)inDmitriy Zaporozhets(Founder)inPaul Machle(Executive Officer)inSytse Sijbrandij(Founder)

BoardBruce Armstrong(Director)in

Co-investorsAlkeon InnovationAugust CapitalBase PartnersBling CapitalCategory VenturesCoatue Management+36 more

Airtableairtable.comin𝕏Dec 2021acquired by Bending Spoons · Aug 2026 · $1.3B

Airtable is a San Francisco-based no-code platform that lets teams build apps and workflows on a flexible database.

AI & Machine LearningCloud ComputingEnterprise SoftwareSaaSSan Francisco, US

Howie Liu(Founder)inAndrew Ofstad(Founder)inEmmett Nicholas(Founder)inAmbereen Toubassy(Chief Financial Officer)inPaul Ohls(Chief Revenue Officer)inDavid Azose(Chief Technology Officer)

Co-investorsBling CapitalBoxGroupCaffeinated CapitalCoatue ManagementCRV (Charles River Ventures)CSC Upshot+35 more

Asteroidasteroid.aiin𝕏Apr 2025

Asteroid provides a HIPAA-compliant platform that automates workflows across healthcare systems lacking public APIs, including EHRs, payer portals, and government registries through browser automation and AI agents.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareHealthtechSaaSSan Francisco, US

David Mlcoch(CEO)inJoe Hewett(CTO)in

Co-investorsEntrepreneur FirstMITONMyAsiaVCTranspose Platform ManagementY CombinatorBalderton Capital+12 more

Big Switch Networksbigswitch.cominAug 2017 · $30.7M

Infrastructure company acquired by Arista.

Santa Clara, US

Kyle Forster(Director)inDouglas Murray(Executive Officer, Director)in

BoardMike Volpi(Director)inGary Morgenthaler(Executive Officer, Director, Promoter)Bruce Armstrong(Director)inBill Meehan(Director)

Co-investorsDell Technologies CapitalIn-Q-TelIndex VenturesIntel CapitalKhosla VenturesRedpoint Ventures+1 more

Cue Healthcuehealth.comMay 2021 · $235M

Covid test maker that went public at a $2.3 billion valuation.

Clint Sever(Founder)in

Co-investorsACME CapitalDarwin CapitalDecheng CapitalDentsu VenturesForesite CapitalMothership VC+4 more

Expanseexpanse.shin𝕏Apr 2019

Expanse predicts the GPU, memory, runtime, and failure risk of compute jobs before they run, so clusters do more work on the same hardware and reduce failed or overprovisioned jobs.

AI & Machine LearningCloud ComputingData & InfrastructureDeveloper ToolsEnterprise SoftwareSan Francisco, US

Ismaeel Bashir(CEO)inNikodem Bieniek(Founder)inYafet Melake(Founder)inEren Mendi(Founder)inMatt Kraning(Founder)Tim Junio(Founder)

Co-investorsNew Enterprise Associates (NEA)Scribble VenturesY CombinatorAIP SeedBlast.ClubCrane Venture Partners+13 more

Flexportflexport.comin𝕏Late Stage

Flexport provides an AI-driven platform for global supply chain management, offering logistics visibility, customs brokerage, and freight optimization for companies shipping goods internationally.

AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainSaaSSan Francisco, US

Ryan Petersen(CEO)inRyan Peterson(Executive Officer, Director)Sanne Manders(Executive Officer)inChristopher Ferro(Executive Officer)Sudhanshu Priyadarshi(Executive Officer)inDavid C. Petersen(Founder)in

Co-investors137 Ventures1435 Capital3Spoke Capital8VCAcequia Capital (AceCap)Adit Ventures Management, Llc+70 more

Guestyguesty.comin𝕏Late Stage

Guesty provides software for hospitality businesses to manage operations and guest experiences across multiple listings.

AI & Machine LearningFuture of WorkPropTechSaaSNew York City, US

Amiad Soto(CEO)inKoby Soto(CTO)inVered Raviv Schwarz(Executive Officer)in

BoardNatalie Refuah(Director)inTzafrir Shahar(Director)Daniel O'Keefe(Director)

Co-investorsAltaIR CapitalAmino CapitalApax DigitalFlashpoint Venture CapitalInovia CapitalMagma Venture Partners+18 more

Gurugetguru.comin𝕏

Guru offers AI-powered team hubs and employee portals that keep company knowledge current by automatically surfacing verified, cited information for internal teams.

AI & Machine LearningEnterprise SoftwareSaaSPhiladelphia, US

Mitchell Stewart(Founder)inRick Nucci(Founder)inMitch Stewart(Founder)

Co-investorsAccelBonfire VenturesEmergence Capital PartnersFirstMark CapitalLockheed Martin VenturesSalesforce Ventures

Gustogusto.comin𝕏Series C

Gusto provides payroll processing, employee benefits administration, and HR management tools to businesses, offering integrated software alongside support services for these functions.

Enterprise SoftwareHR TechSan Francisco, US

Josh Reeves(CEO)inEdward Kim(Empowering Gusto's Engineering Team)inTomer London(; Empowering Gusto's Product and Design Teams)inJoshua Reeves(Founder)Nick Baum(Empowering the Payroll Product Team at Gusto)inNeal Kemp(Software Engineer (Consultant))

Co-investors137 VenturesA*Acrew CapitalAkkadian VenturesAspect VenturesAurum+63 more

Nginxnginx.com𝕏

F5 NGINX provides a lightweight, high-performance solution for delivering, securing, and scaling apps, APIs, Kubernetes services, and AI workloads across distributed, hybrid multi-cloud environments.

Cloud ComputingCybersecurityDeveloper Tools

Co-investorsAcorn Pacific VenturesNew Enterprise Associates (NEA)Runa CapitalTitanium VenturesBlue Cloud VenturesIndex Ventures

Stripestripe.comin𝕏Late Stage

Stripe provides financial infrastructure for businesses to accept payments, offer financial services, and implement custom revenue models across international markets in 135+ currencies.

Developer ToolsFintechSaaSSan Francisco, US

John Collison(President)inPatrick Collison(CEO)inWilliam Gaybrick(Executive Officer)inGreg Brockman(Founding Engineer, then first CTO)inSarah HeckinRyan Seekely(Engineering Manager)

Co-investors1435 Capital500 GlobalAdvaita CapitalAdventure FundAglae VenturesAir Street Capital+100 more

Exits · 2

1 IPOs · 1 acquisitions

GitlabNASDAQ: GTLBAirtableacq. by Bending Spoons

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures

as of Mar 2025
FundVintageCommittedNet IRRTVPIDPI
MSD Empire Fund (Class A)LPs: Empire State Development – New York Ventures2023——1.12x0.00x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Msd Capital made?
Msd Capital has 12 tracked investments, 2 of which have exited, including 1 dated in the last 24 months.
What stage does Msd Capital invest at?
Msd Capital invests at the Seed, Series A, Series B stages.
What sectors does Msd Capital focus on?
Msd Capital focuses on SaaS.
Where is Msd Capital located?
Msd Capital is headquartered in New York, US.

Co-investors · 19

Felicis Ventures

Felicis is a venture capital firm that backs early-stage founders, investing primarily at Seed and Series A across artificial intelligence, cybersecurity and defense, global resilience and energy, and health and bio.

$500K – $15M
Sequoia Capital

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

Both backed · 2
$100K – $50M
First Round Capital

First Round Capital is an early-stage venture firm partnering with founders at the very first stages of company creation, backing companies from angel through seed with hands-on support across GTM, recruiting, and operations.

Both backed · 2
$100K – $20M
Quiet Capital

Quiet Capital is an early-stage venture firm run by builders who back founders from day zero.

Both backed · 1
$100K – $25M
Goat Capital

Goat Capital is a venture capital firm. Its public homepage lists its founders and a contact email but provides limited additional detail.

Both backed · 1
Catapult Capital

Catapult Capital is an operator-led investment firm that backs market-defining AI, internet, software, and life science platforms, pairing hands-on operating expertise with a founder network to create value.

Both backed · 1
$50M – $500M
Dell Technologies Capital

Dell Technologies Capital (DTC) is the corporate venture arm of Dell, backing early-stage enterprise technology companies building category-defining businesses.

Both backed · 1
$500K – $50M
Coelius Capital

Coelius Capital provides entrepreneurial early-stage capital to technology startups, generally investing in B2B or B2B2C companies.

Both backed · 1
$200K – $1M
S32

S32 is a venture capital firm investing at the frontiers of technology, backing exceptional founders with conviction-based investing led by experienced partners.

Both backed · 1
Insight Partners

Insight Partners is an investment firm focused on accelerating revenue and profit growth in software companies, providing capital and operational support through its Insight Onsite team.

$120M – $350M
B Capital Group

B Capital is a global investment firm backing early to late-stage technology innovators across technology, healthcare, and energy & resilience sectors.

$10M – $50M
Sapphire Ventures

Sapphire Ventures partners with expansion-stage enterprise software companies, aiming to help them become category leaders. Its Platform team of operators supports portfolio companies with customer introductions, go-to-market talent, and growth advisory.

$5M – $20M
▶7 more co-investors

Amplify PartnersMeritech Capital PartnersThreshold VenturesWingWalden InternationalA.Capital VenturesH.I.G. Growth Partners

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

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