About Modus Capital
Modus Capital is a venture capital firm founded in 2015. It is primarily based out of New York City, United States. As of Feb 2024, Modus Capital has invested in 38 companies. It primarily invests in Seed round in United Arab Emirates based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and HealthTech. Most recently it participated in the $***** Seed round of BFREE Overall, Modus Capital portfolio has seen 2 unicorns, 1 IPO and 2 acquisitions including key companies like Trip, Unite Us and MadHive. A lot of funds co-invest with Modus Capital, with names like Axian sharing a substantial percentage of its portfolio. Modus Capital has team of 27 people including 14 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Portfolio IPOs
Portfolio Acquisitions
Modus Capital's List of Top Investments
Modus Capital has a portfolio of 38 companies, including 2 unicorns. Their most notable investments are in Ogram and Your Social Smile.Their portfolio spans across United Arab Emirates, United States, Egypt and 8 more locations. They have invested in Enterprise Applications, Consumer, HealthTech and 14 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Modus Capital:1. Trip
Online platform for booking global travel services. It enables users to plan and reserve flights, hotels, trains, and car rentals across various destinations. The platform provides multilingual and multi-currency support, offering convenience for both leisure and business travellers.
Key facts about Trip
- Founded Year: 1999
- Location: Singapore (Singapore)
- Annual Revenue: $100M - $500M as on Dec 31, 2022
- Stage: Public
- Employee Count: 12,186 as on May 31, 2026
- Investors: Redpoint Ventures, Avista Investments and 10 Others
- Latest Funding Round: Post IPO, Feb 03, 2021, $*****
- Highlight: Public
2. Unite Us
Cloud-based interoperability and online community management software for patients. The company operates with medical facilities and providers community health management. It provides two solutions community management and care coordination. It has features like referral management, communication, assessment, care plan management, and more.
Key facts about Unite Us
- Founded Year: 2013
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $196M
- Employee Count: 409 as on Aug 31, 2026
- Investors: Salesforce Ventures, Blossom Street Ventures and 21 Others
- Latest Funding Round: Series C, Mar 16, 2021, $*****
- Highlight: Editors' Pick
3. MadHive
Provider of technology for local connected television advertising and media sales. The enterprise AI layer supercharges campaigns from pitch to payment. The platform offers forecasting, activation, measurement, and integration tools. It combines data sources for audience targeting. The technology automates omnichannel workflows and proposals. It facilitates connected television inventory sales to local businesses and national brands.
Key facts about MadHive
- Founded Year: 2015
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $307M
- Employee Count: 460 as on Aug 31, 2026
- Investors: Fenbushi Capital, Digital Currency Group and 4 Others
- Latest Funding Round: Series D, Jun 13, 2023, $*****
- Highlight: Editors' Pick
4. BFREE
Provider of credit management solutions for distressed assets and debt recovery. It offers a Software-as-a-Service (SaaS) workflow for internal collections teams and purchases distressed assets, primarily non-collateralized consumer loans. The company utilizes machine learning to analyze consumer behavior and tailors its collection strategies to individual customer needs. Progress reports are provided to clients, and fees are typically commission-based. The services aim to improve credit scoring processes and reduce non-performing loans for lending businesses.
Key facts about BFREE
- Founded Year: 2020
- Location: Lagos (Nigeria)
- Stage: Series A
- Total Funding till date: $10.6M
- Employee Count: 291 as on Aug 31, 2026
- Investors: Algebra Ventures, Capria and 15 Others
- Latest Funding Round: Series A, Apr 15, 2026, $*****
- Highlight: Editors' Pick
5. Ogram
Part-time staffing marketplace for businesses. It enables businesses to hire and manage on-demand workers like waiters, runners, kitchen staff, retail staff, warehouse staff, e-pickers, and more. The mobile app is available on both google play store and iOS store.
Key facts about Ogram
- Founded Year: 2017
- Location: Dubai (United Arab Emirates)
- Stage: Series A
- Total Funding till date: $3.87M
- Employee Count: 124 as on Aug 31, 2026
- Investors: Everywhere, Draper Venture Network and 7 Others
- Latest Funding Round: Conventional Debt, Jan 23, 2025, $*****
- Highlight: Editors' Pick
Modus Capital's Year-on-Year Investment Trends
Modus Capital has invested in 39 companies over the last 8 years, with an average of 2 new investments annually in the last 5 years. Its most recent first time investment was in BFREE and most recent follow-on round was in Meddy.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 8 | 0 | 8 |
2022 | 2 | 0 | 2 |
2021 | 0 | 0 | 0 |
2020 | 2 | 0 | 2 |
2019 | 0 | 1 | 1 |
2018 | 1 | 0 | 1 |
Modus Capital's Investments by Stage
Modus Capital has made 13 investments in Seed stage with an average round size of $1.22M and 1 investment in Series A stage with an average round size of $3M.Stage of entry | No. of Investments |
|---|---|
Seed | 13 |
Series A | 1 |
Note: We have considered here, only first round of investments
Modus Capital's Investments by Sector
Modus Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, FinTech, HealthTech and Business Services. Notably, it has invested in 30 Tech companies, 22 Enterprise (B2B) companies, 20 Software companies and at least 16 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 7 |
Consumer | 3 |
FinTech | 3 |
HealthTech | 3 |
Business Services | 2 |
Others | 9 |
Note: We have considered here, only first round of investments
Modus Capital's Investments by Geography
Modus Capital has made most investments in United Arab Emirates (9), followed by United Kingdom where it has made 2 investments.Country | No. of Investments |
|---|---|
United Arab Emirates | 9 |
United Kingdom | 2 |
Egypt | 1 |
India | 1 |
Nigeria | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Modus Capital's recent investments
Modus Capital has not made any investment in 2026 so far.Here are the most recent investments by Modus Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 06, 2024 | Nigeria | Seed | 2533 | [+4] | |
Nov 22, 2023 | United Arab Emirates | Seed | 6306 | - | |
Nov 22, 2023 | United Kingdom | Seed | 1129 | - | |
Nov 22, 2023 | United Arab Emirates | Seed | 2225 | - | |
Nov 22, 2023 | United Arab Emirates | Seed | 9356 | - |
Unicorns in Modus Capital's Portfolio
Modus Capital has 2 unicorns in its portfolio - MadHive and Unite Us. The most recent unicorn in their portfolio is MadHive. It became a unicorn in 2023, 3 years before Modus Capital first invested in it.Here is a list of unicorns in Modus Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
62 | Provider of technology for local connected television advertising and media sales | 2015 | New York City | Series D | aaxpugk | ||
72 | Cloud-based interoperability and online community management software for patients | 2013 | New York City | Series C | axfzyxw |
IPOs and Publicly Listed companies in Modus Capital's Portfolio
1 of Modus Capital's portfolio company became public - Trip. It got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Dec 2003 at marketcap of $16.5BHere are Modus Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 12, 2003 | - | - | 7838 |
Acquired companies in Modus Capital's Portfolio
2 companies from Modus Capital's portfolio have been acquired. The most recent acquisition was Meddy in Nov 2021 by Helium Health for $*****.Here are Modus Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 11, 2021 | Dec 04, 2018 | Seed | 2813 | |
Jun 01, 2014 | - | - | 4733 |
Team profile of Modus Capital
Modus Capital has a team of 27 members including 14 Partners, 1 Venture Partner and 3 Principals located in United Arab Emirates, United States and 3 more locations. Modus Capital's team does not sit on the board of any company as of now.Here is a list of top team members in Modus Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Boston | - | ||
Partner | Jeddah | - | ||
Partner | United Arab Emirates | - | ||
Partner | Dubai | - | ||
Partner | Dubai | - | - | |
Partner | Edison | - | ||
Partner | Dubai | - | ||
Partner | Dubai | - | ||
Partner | Toronto | - | ||
Partner | United Arab Emirates | - | ||
Partner | Edison | - |
Co-investors of Modus Capital
Over the past 8 years, 75 investors have co-invested in Modus Capital's portfolio companies. This includes funds and angels.
- Invested before Modus Capital: GreenHouse Capital, Launch Africa and 48 others have invested in rounds before Modus Capital. There is 1 company where GreenHouse Capital has invested before Modus Capital and 1 company where Launch Africa has invested before Modus Capital.
- Top Co-investors of Modus Capital: 8 investors entered a company along with Modus Capital. These include investors like Axian (1 company).
- Invested after Modus Capital: A total of 17 investors have invested in Modus Capital's portfolio after their investments. Top Investors include Verdant Capital (1 company), Africinvest (1 company) and Algebra Ventures (1 company).
Recent News related to Modus Capital
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BFREE secures $2.95m funding round led by Capria VenturesAfrica Business Communities•Feb 29, 2024•BFREE, Capria, Angaza Investment Management, GreenHouse Capital and 5 others
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US venture capital firm Modus starts up a venture builder in Egypt.Tech In Africa•Nov 29, 2022•Modus Capital
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Ogram raises $3 million to expand into Saudi Arabia and EuropeMy Startup World•May 27, 2022•Ogram, Modus Capital, Aditum, Dtec and 1 other
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