McCarthy Capital

ActiveVenture Capital

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Updated: Jan 22, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Sep 1, 2025	Flox	$25.0M Series B	—	Addition, Afore Capital, Alumni Ventures, Craft Ventures, Harpoon, MizMaa Ventures, Aaron Jacobson, New Enterprise Associates, Dan Magnuszewski, Guy Podjarny, Thomas Dohmke
Aug 1, 2025	Dirac	$11.0M Seed	—	Kevin Hartz, Afore Capital, Altair Capital Management, Alumni Ventures, Angel investor, AngelList, Anti fund, Brainchild, Craft Ventures, Founders Fund, Harpoon, Heavybit, Infinite Niches, KAAN Ventures, LAUNCH, Aaron Jacobson, Paradigm, Positive Sum VC, Proton Enterprises, Shrug Capital, The Hit Forge, Todd and Rahul's Angel Fund, Trust Fund, Vibe Capital, Alex Rodriguez, Y Combinator, Anthony Pompliano, Babak Nivi, Karim Atiyeh, Kevin Hart, Kyle Vogt, Marcy Simon, Matthew Dellavedova, Moshe Lifschitz, Sahil Lavingia, Sahin Boydas, Scott Belsky
Jul 1, 2025	Replit	$250.0M Series C	—	Afore Capital, Alumni Ventures, Amino Capital, Andreessen Horowitz, Bond, Bora&Sons, BoxOne Ventures, Craft Ventures, Founders Fund, Gaingels, Great Oaks Venture Capital, Harpoon, Hitachi Ventures, Aaron Jacobson, Polychain Capital, Softbank Group, Streamlined Ventures, SV Angel, Mike Kerns, The Hit Forge, Trajectory Ventures, UpHonest Capital, VU Venture Partners, Walden Catalyst Ventures, Y Combinator, Audrey Gelman, Conor Bronsdon, Emmett Shear, Hari Lakshmanan, Jeff Bezos, Joshua Webster, Kenji Niwa, Madhu Chamarty, Mark Pincus, Mattia Astori, Matt Mazzeo, Paul Graham, Richard Branson, Sam Altman, Sathvik Bilakanti, Sue Xu, Vinay Hiremath
Jul 1, 2025	Firestorm	$35.0M Series A	—	Afore Capital, Alumni Ventures, Craft Ventures, DN Capital, Floodgate, Giant Ventures, Harpoon, IDG Ventures, LAUNCH, Aaron Jacobson, New Enterprise Associates, Alexander Rosen, Scout Ventures, SignalFire, Slow Ventures, Y Combinator, Drew Houston, Emmett Shear, Kyle Vogt
Apr 1, 2025	Barnwell Bio	$6.0M Seed	—	Afore Capital, Alumni Ventures, Craft Ventures, Harpoon, Aaron Jacobson
May 1, 2024	Transcarent	$130.0M Series D	—	7wire Ventures, BDC Venture Capital, Flint Capital, General Catalyst, Geodesic Capital, Frederique Dame, Ingeborg Investments, Innospark Ventures, Kinnevik, Lightspeed Venture Partners, Lux Capital, Maveron, OMERS Ventures, Red Swan Ventures, SuperAngel.Fund, The Food Loft, Threshold Ventures, Tiffany, Town Hall Ventures, Vouch Insurance, XFactor Ventures, Alison Pincus, Amar Varma, Brian Sugar, Elliott Cohen, Fidji Simo, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Michelle McBane, Nik Sharma
Apr 1, 2024	Summer Health	$12.0M Series A	—	7wire Ventures, General Catalyst, GSV Acceleration, Frederique Dame, Ingeborg Investments, Khosla Ventures, Lightspeed Venture Partners, Lux Capital, Maven Ventures, Maveron, NEO, OMERS Ventures, Red Swan Ventures, Sequoia Capital, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, Union Square Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jeffrey Wilke, Jon Stein, Lev Ekster, Nik Sharma
Apr 1, 2024	Midi Health	$63.0M Series B	—	7wire Ventures, B Capital Group, Craft Ventures, Felicis Ventures, Frederique Dame, GV, Ingeborg Investments, Lux Capital, Maveron, Norwest Venture Partners, OMERS Ventures, Red Swan Ventures, SemperVirens Venture Capital, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, Vista Venture Partners, XFactor Ventures, XYZ Venture Capital, Alison Pincus, Anne Wojcicki, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Netalie Nadivi, Nik Sharma
Mar 1, 2024	Brightside Health	$33.0M Series C	—	7wire Ventures, Accomplice, Accomplice VC, ACME Capital, FirstMark Capital, Frederique Dame, Ingeborg Investments, Lux Capital, Maveron, OMERS Ventures, Practical Venture Capital, Red Swan Ventures, Stride VC, SuperAngel.Fund, The Food Loft, Town Hall Ventures, XFactor Ventures, Alison Pincus, Andrei Dunca, Ben Barokas, Brian Sugar, Elliott Cohen, Esther Dyson, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma
Mar 1, 2024	Goodbill	$2.0M Seed	—	7wire Ventures, Frederique Dame, Ingeborg Investments, Lux Capital, Maveron, OMERS Ventures, Red Swan Ventures, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma
Nov 1, 2023	Replit	$20.0M Series B	—	Afore Capital, Alumni Ventures, Craft Ventures, Harpoon, Aaron Jacobson
Nov 1, 2023	Workshop	$12.0M Series A	—	The Blox
Sep 1, 2023	Midi Health	$25.0M Series A	—	7wire Ventures, B Capital Group, Felicis Ventures, Frederique Dame, GV, Ingeborg Investments, Lux Capital, Maveron, Norwest Venture Partners, OMERS Ventures, Red Swan Ventures, SemperVirens Venture Capital, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, Vista Venture Partners, XFactor Ventures, XYZ Venture Capital, Alison Pincus, Anne Wojcicki, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma
Jun 1, 2023	Caraway	$17.0M Series A	—	7wire Ventures, Alumni Ventures, Bessemer Venture Partners, Catapult Capital, Define Ventures, DST Global, F-Prime Capital Partners, Fuel Capital, Frederique Dame, GV, Ingeborg Investments, Logos Labs, Lux Capital, M13, Maveron, Offline Ventures, OMERS Ventures, Red Swan Ventures, Scribble Ventures, Sound Ventures, SuperAngel.Fund, The Food Loft, Tiffany, Tiger Global Management, Town Hall Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Chris Herd, Deborah Liu, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Max Mullen, Nik Sharma, Ron Pragides, Tim Kendall
Feb 1, 2023	Flox	$17.0M Series A	—	Addition, Afore Capital, Alumni Ventures, Craft Ventures, Harpoon, IVP, Maven Ventures, MizMaa Ventures, Aaron Jacobson, New Enterprise Associates, Sarona Ventures, Verve Ventures, Dan Magnuszewski, Guy Podjarny, Thomas Dohmke, Youcef Es-skouri
Jan 1, 2023	Elaborate	$7.0M Seed	—	7wire Ventures, American Express Ventures, Arkitekt Ventures, B Capital Group, Blockchain Capital, Blockchain Founders Fund, bloom venture partners, Cedar Capital Group, Chemistry VC, Citi Ventures, Coinbase Ventures, Ali Tamaseb, Founder Collective, General Catalyst, Frederique Dame, Hoxton Ventures, Ingeborg Investments, Lux Capital, Maveron, Max Ventures, OMERS Ventures, Red Swan Ventures, Shima Capital, Stellar Capital, SuperAngel.Fund, Tapas Capital, The Food Loft, Tiffany, Town Hall Ventures, Trust Ventures, Tusk Venture Partners, XFactor Ventures, Alison Pincus, Balaji Srinivasan, Bobby Lo, Brian Sugar, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma, Pierre Lavaux, Ron Suber, Steve Aoki, Trevor Wright
Nov 1, 2022	zLinq	$5.0M Series B	—	—
Sep 1, 2022	Caraway	$35.0M Series A	—	—
Aug 1, 2022	Trial Library	$5.0M Seed	—	7wire Ventures, Frederique Dame, Ingeborg Investments, Lux Capital, Maveron, Next Ventures, OMERS Ventures, Red Swan Ventures, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma
Jul 1, 2022	Summer Health	$8.0M Seed	—	7wire Ventures, 8VC, Alumni Ventures, Cherubic Ventures, General Catalyst, GSV Acceleration, Frederique Dame, Ingeborg Investments, Khosla Ventures, Lightspeed Venture Partners, Lux Capital, Maven Ventures, Maverick Capital, Maveron, NEO, OMERS Ventures, Red Swan Ventures, Revolution, Sequoia Capital, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, Union Square Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jeffrey Wilke, Jon Stein, Lev Ekster, Nik Sharma
Jul 1, 2022	Workshop	$5.0M Seed	—	The Blox
Jul 1, 2022	Caraway	$11.0M Seed	—	7wire Ventures, ACME Capital, Amplo, Rexhep Dollaku, Bessemer Venture Partners, BoxOne Ventures, CRV, Data Tech Fund, Define Ventures, Founders Fund, F-Prime Capital Partners, General Catalyst, Frederique Dame, IA Ventures, Index Ventures, Infinite Niches, Ingeborg Investments, Khosla Ventures, LAUNCH, Lux Capital, Maveron, Menlo Ventures, OMERS Ventures, Red Swan Ventures, Renegade Partners, Sequoia Capital, Sonder Capital, SuperAngel.Fund, Susa Ventures, Team Ignite Ventures, The Food Loft, Tiffany, Tiger Global Management, Town Hall Ventures, Union Square Ventures, XFactor Ventures, Alison Pincus, Anne Wojcicki, Brian Sugar, Daniel Burka, Elliott Cohen, Eros Resmini, Henry Davis, Jason Starr, Jon Stein, Kevin Lin, Lev Ekster, Mark Pincus, Nik Sharma, Pieter Schoen, Zachary Sims
Mar 1, 2022	Brightside Health	$50.0M Series B	—	7wire Ventures, ACME Capital, Frederique Dame, Ingeborg Investments, Lux Capital, Maveron, OMERS Ventures, Red Swan Ventures, SuperAngel.Fund, The Food Loft, Town Hall Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma
Jan 1, 2022	Transcarent	$200.0M Series C	—	7wire Ventures, General Catalyst, Frederique Dame, Ingeborg Investments, Kinnevik, Lightspeed Venture Partners, Lux Capital, Maveron, OMERS Ventures, Red Swan Ventures, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, Vouch Insurance, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Fidji Simo, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma
Nov 1, 2021	Goodbill	$3.0M Seed	—	7wire Ventures, Frederique Dame, Ingeborg Investments, Lux Capital, Maveron, OMERS Ventures, Red Swan Ventures, SuperAngel.Fund, The Food Loft, Tiffany, Town Hall Ventures, XFactor Ventures, Alison Pincus, Brian Sugar, Elliott Cohen, Henry Davis, Jason Starr, Jon Stein, Lev Ekster, Nik Sharma

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at McCarthy Capital.

Leadership Team

Key people at McCarthy Capital.

Deep Dive

High-Level Overview

McCarthy Capital, now rebranded as M-One Capital in 2025, is a private equity firm specializing in partnering with management teams, founders, and family owners of lower middle market companies. The firm focuses on providing equity capital, strategic guidance, and operational resources to businesses with established profitability and growth potential, where management retains meaningful ownership and operating control. Their investment philosophy centers on long-term value creation through growth equity, recapitalizations, and management buyouts, typically investing between $10 million and $125 million per transaction. Key sectors include tech-enabled business services, consumer, staffing, and select real estate strategies. McCarthy Capital/M-One Capital plays a significant role in the startup and growth ecosystem by supporting companies beyond capital infusion, emphasizing partnership, operational improvements, and strategic growth initiatives[1][2][3][4][5][6].

Origin Story

Founded in 1986, McCarthy Capital has built its reputation over more than 35 years by partnering closely with founders, families, and management teams who maintain significant equity stakes and operational control. The firm has evolved from a traditional private equity investor to a value-added partner emphasizing long-term growth and operational excellence. Key leadership includes Patrick Duffy, President and Managing Partner, who highlights the firm's commitment to integrity, rigor, and relationship-driven investing. The rebranding to M-One Capital in 2025 reflects the firm's expanded scale, strategic evolution, and organizational growth while maintaining its founding principles[1][2][3][5][6].

Core Differentiators

Unique Investment Model: Focus on lower middle market companies with revenues typically between $20 million and $200 million; investments range from $10 million to $125 million in equity, including minority and majority stakes.
Partnership Approach: Emphasis on supporting management teams who retain meaningful ownership and operating control, avoiding consulting fees and limiting financial leverage.
Value Creation Playbook: Strong operational support including talent management, sales and marketing enhancement, platform scaling, balance sheet optimization, and succession planning.
Track Record: Over $1.1 billion deployed across multiple funds, with a total portfolio value marked at $3.7 billion and $1.7 billion realized as of recent years.
Network Strength: Proprietary deal sourcing with 69% of investments sourced directly, and a stable base of institutional, family office, and high-net-worth investors.
Long-Term Perspective: Preference for longer hold periods to maximize growth and value creation[1][3][4][5][6].

Role in the Broader Tech Landscape

McCarthy Capital/M-One Capital rides the trend of supporting established, profitable companies in the lower middle market that require growth capital and strategic partnership rather than early-stage venture funding. The timing is favorable due to increasing demand for flexible capital solutions that allow founders and management to retain control while scaling operations. Market forces such as technological adoption in business services, staffing, and consumer sectors, combined with a focus on operational excellence, position the firm to influence the broader ecosystem by enabling sustainable growth and preparing companies for successful exits. Their approach also supports the stability and longevity of family-owned and founder-led businesses, which are critical to economic resilience[1][4][5][6].

Quick Take & Future Outlook

Looking ahead, M-One Capital is poised to leverage its expanded platform and organizational growth to deepen its impact on the lower middle market. Trends shaping their journey include increased digitization of business services, evolving workforce dynamics in staffing, and the growing importance of operational data analytics. The firm’s commitment to partnership and value creation suggests it will continue to influence the ecosystem by helping companies scale responsibly and prepare for competitive market exits. The rebranding to M-One Capital symbolizes a forward-looking vision that balances legacy with innovation, ensuring the firm remains a preferred partner for owner-led businesses seeking growth capital and strategic support[5][6].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Focus on lower middle market companies with revenues typically between $20 million and $200 million; investments range from $10 million to $125 million in equity, including minority and majority stakes.
Partnership Approach: Emphasis on supporting management teams who retain meaningful ownership and operating control, avoiding consulting fees and limiting financial leverage.
Value Creation Playbook: Strong operational support including talent management, sales and marketing enhancement, platform scaling, balance sheet optimization, and succession planning.
Track Record: Over $1.1 billion deployed across multiple funds, with a total portfolio value marked at $3.7 billion and $1.7 billion realized as of recent years.
Network Strength: Proprietary deal sourcing with 69% of investments sourced directly, and a stable base of institutional, family office, and high-net-worth investors.
Long-Term Perspective: Preference for longer hold periods to maximize growth and value creation[1][3][4][5][6].