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Service Provider Capital is a venture capital fund founded in 2014 and headquartered in the United States. The firm specializes in co-investing in Seed and Series A funding rounds, partnering with institutional venture capital firms to support the growth of innovative startups. With a focus on enhancing the reach of portfolio companies, Service Provider Capital connects them with potential investors, customers, and strategic partners through its extensive network of service providers, including lawyers, bankers, and accountants.
As of now, Service Provider Capital manages approximately $3 million per regional fund, with a total estimated AUM ranging between $25 million and $40 million across 11 funds. The firm operates multiple regional funds across the U.S., including the Rocky Mountain, Midwest, New England, Southeast, Texas, and Pacific Northwest regions. This geographical diversity allows Service Provider Capital to tap into various U.S. markets and support a wide array of startups.
Notable milestones include the launch of a new Pacific Northwest fund in 2025, which raised $3 million and has already made two undisclosed investments. The firm has established a reputation for its unique model of co-investing, which emphasizes collaboration and resource-sharing among its portfolio companies.
Service Provider Capital primarily invests in early-stage companies, specifically in Seed and Series A funding rounds. The firm operates across various regions in the U.S., including the Rocky Mountain, Midwest, New England, Southeast, Texas, and Pacific Northwest regions. Each regional fund typically invests in approximately 60 companies, allowing Service Provider Capital to maintain a diverse portfolio that exceeds 600 companies.
The organization collaborates closely with institutional venture capital firms, providing startups with not only financial support but also valuable connections that can drive their growth. The firm’s investment strategy emphasizes co-investing alongside institutional leads, with check sizes ranging from $50,000 to $100,000. This model allows Service Provider Capital to enhance the growth of its portfolio companies by leveraging its extensive network of service providers.
Service Provider Capital looks for founders who are innovative and capable of navigating the challenges of early-stage growth. The firm values collaboration and resource-sharing, which are critical components of its investment thesis.
Service Provider Capital has invested in over 600 portfolio companies, showcasing a diverse investment strategy across various sectors. Notable portfolio companies include:
Jody Shepherd - Founder and Managing Director, Rocky Mountain. Jody has extensive experience in venture capital and has been instrumental in establishing Service Provider Capital's regional funds.
Noah Pittard - Founder and Special Advisor. Noah brings a wealth of knowledge from his background at Cooley LLP, a major startup law firm, providing valuable insights into the legal aspects of venture funding.
Galen Mason - Managing Director, Midwest. Galen has a strong background in venture capital and has led numerous successful investments in the Chicago area.
Doug Spear - Managing Director, Southeast. Doug specializes in identifying promising startups in the Southeast region and has a track record of successful investments.
Ned Hill - Managing Director, Southeast & Texas. Ned focuses on expanding Service Provider Capital's reach in the Southeast and Texas markets.
Pat Cerone - Managing Director, Midwest. Pat has extensive experience in the Midwest startup ecosystem and plays a key role in sourcing new investment opportunities.
Phil Gager - Managing Director, New England. Phil is responsible for overseeing investments in the New England region and has a strong network of local entrepreneurs.
Stefan Spazek - Managing Director, New England. Stefan works alongside Phil to identify and support promising startups in the region.
Brian Gordon - Managing Director, Southeast. Brian focuses on building relationships with startups and investors in the Southeast.
Minh Lee - Managing Director, Pacific Northwest. Minh is responsible for expanding Service Provider Capital's presence in the Pacific Northwest.
David Wickwire - Managing Director, Pacific Northwest. David works with Minh to identify investment opportunities in the region.
Craig Sherman - Managing Director, Pacific Northwest. Craig focuses on building connections with local startups and service providers in the Pacific Northwest.
To pitch Service Provider Capital, startups should visit their website at serviceprovidercapital.com. The firm prefers detailed pitch decks that include information about the business model, market analysis, team background, and financial projections. A clear articulation of how the startup plans to leverage the firm's network of service providers is also essential.
Response times may vary, but founders can expect to hear back within a few weeks after submitting their pitch. Warm introductions are encouraged, as they can facilitate a more favorable review process.
Service Provider Capital operates several regional funds, each designed to support startups in specific U.S. markets. These funds include:
Each fund aims to provide financial support and access to a network of service providers to help startups grow and succeed.
In 2025, Service Provider Capital launched a new Pacific Northwest fund that raised $3 million and has already made two undisclosed investments. This expansion reflects the firm's commitment to tapping into various U.S. markets and supporting a diverse range of startups.
As of 2026, Service Provider Capital has raised a total of 11 funds across six regions, each investing in approximately 60 companies. This growth indicates the firm's active role in the venture capital landscape and its focus on co-investing alongside institutional partners.
What are the investment criteria for Service Provider Capital?
Service Provider Capital focuses on early-stage companies, specifically in Seed and Series A funding rounds. The firm looks for innovative founders who can navigate the challenges of early-stage growth and are open to collaboration.
How can startups apply or pitch to Service Provider Capital?
Startups can pitch to Service Provider Capital by visiting their website at serviceprovidercapital.com. The firm encourages potential portfolio companies to provide detailed information about their business model, market potential, and team.
What makes Service Provider Capital different from other venture capital firms?
Service Provider Capital operates a unique co-investment model, partnering with institutional venture capital firms to provide not only financial support but also access to a vast network of service providers. This network includes professionals who can offer critical support, advice, and connections to help startups grow.
What is the geographic scope of Service Provider Capital's investments?
The firm operates multiple regional funds across the United States, including the Rocky Mountain, Midwest, New England, Southeast, Texas, and Pacific Northwest regions. This allows them to tap into various U.S. markets and support a diverse range of startups.
What is the typical check size for investments?
Service Provider Capital typically invests between $50,000 and $100,000 in co-investment alongside institutional leads. This allows the firm to maintain a diversified portfolio while supporting early-stage companies.
What kind of post-investment involvement does Service Provider Capital have?
Service Provider Capital adds value to its portfolio companies by leveraging its extensive network of service providers. This network can provide critical support, advice, and connections, helping startups navigate challenges and accelerate their growth.
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