# Bonsal Capital

> Bonsal Capital is a VC fund in Baltimore backing Education, Software and EdTech. See 26 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Baltimore, United States
- Total investments: 26
- Last investment: Jul 2022
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/bonsal-capital
- X (Twitter): https://twitter.com/BonsalCapital
- Website: https://www.bonsalcapital.com/
- Facebook: https://www.facebook.com/BonsalCapital/

Bonsal Capital is a mission-driven partnership investing primarily in the Capital Region in technology enabled services in education and workforce. The firm was founded in 1999 by New Enterprise Associates (NEA) cofounder Frank A. Bonsal, Jr and is based in Baltimore, Maryland.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $800k–$3.7M |
| Series A | $1.3M–$11M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Education | 10 | 38% |
| Software | 4 | 15% |
| EdTech | 3 | 12% |
| SaaS | 2 | 8% |
| Internet | 2 | 8% |

37 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 9 | 35% |
| Seed | 6 | 23% |
| Funding Round | 3 | 12% |
| Pre-Seed | 2 | 8% |
| Series B | 1 | 4% |

8 stages tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Canopie | Canopie offers a digital platform that addresses symptoms of maternal depression and anxiety.It aims to prevent and address maternal mental health disorders through customized, audio-based programs and automated coaching using clinically validated, recommended therapeutic techniques. Canopie works with cities, payers, health systems, andproviders to deliver effective, low-cost care to moms that works for them and can be easily scaled - tackling the key treatment barriers of cost, scheduling, time, and stigma. |  | Pre-Seed | Jul 06, 2022 |  |
| Early Works | A multidisciplinary studio building companies from the ground up while creating everything in-house. |  | Pre-Seed | Apr 18, 2022 |  |
| Canopie | Canopie offers a digital platform that addresses symptoms of maternal depression and anxiety.It aims to prevent and address maternal mental health disorders through customized, audio-based programs and automated coaching using clinically validated, recommended therapeutic techniques. Canopie works with cities, payers, health systems, andproviders to deliver effective, low-cost care to moms that works for them and can be easily scaled - tackling the key treatment barriers of cost, scheduling, time, and stigma. |  | Pre-Seed | Apr 16, 2022 |  |
| KidzToPros | KidzToPros is a provider and marketplace for after school enrichment programs. |  | Series A | Jan 24, 2022 |  |
| RareBreed Ventures | RareBreed Ventures is a pre-seed fund that invests in technology companies. It allows angel investors to become limited partners for larger funds down the line. RareBreed was founded in 2021 by McKeever "Mac" Conwell. |  | Venture - Series Unknown | Sep 21, 2021 |  |
| EveryDay Labs | EveryDay Labs unites behavioral science, data science, and family engagement to reduce chronic absenteeism while empowering educators to optimize student supports districtwide. | $8M | Series A | Sep 01, 2021 |  |
| Upswing | Upswing provides colleges and universities with an integrated student services platform to increase student retention. Colleges are able to integrate their various student support operations in a virtual environment to allow students to easily find and meet with staff in support functions like advising, counseling, student success coaching, andtutoring. Additionally, Upswing's virtual assistant connects students via SMS to college reminders and information. By streamlining student services, college administrators are able to manage support staff in a single location, oversee communication with students, and access streamlined reporting and insights. | $5M | Series A | Mar 30, 2021 |  |
| Nepris | Nepris is a cloud-based platform that connects industry professionals with K-16 classrooms, adult job seekers and out of school youth to bring real world relevance and career exposure to all learners. Nepris matches the skills of working professionals to learning objectives and virtually connects them with students to bring abstract lessons tolife, offer project mentoring and evaluation, virtual tours, mock interviews and virtual work place experiences. Nepris makes it easy for educators to leverage industry connections to bring real world knowledge and skills to students, while providing a reliable platform for companies and regional intermediaries (like workforce boards, chamber, STEM hubs) to easily and effectively engage current workforce with the future workforce. | $5M | Series A | Mar 11, 2020 |  |
| CourseArc | CourseArc is a digital content creation tool that allows easy creation of engaging, interactive, and affordable online courses. It allows its users to create mobile-friendly, accessible courses without the assistance of a web developer. |  | Convertible Note | Feb 15, 2020 |  |
| Student Opportunity Center | Provider of an online platform intended to centralize, manage and assess student's experiential learning. The company's platform help student participate in experiential learning to prepare them for career and life after graduation. | $850K | Seed | Dec 20, 2019 |  |

10 of 26 investments shown.

## Co-investors
- [New Markets Venture Partners](https://shizune.co/investors/profile/new-markets-venture-partners) — VC Fund, 4 deals together
- [Beta Boom](https://shizune.co/investors/profile/beta-boom) — VC Fund, 2 deals together
- [Virginia Venture Partners](https://shizune.co/investors/profile/cit-gap-funds) — VC Fund, 2 deals together
- [Dingman Center for Entrepreneurship](https://shizune.co/investors/profile/dingman-center-angels) — VC Fund, 2 deals together
- [Stride](https://shizune.co/investors/profile/k12) — VC Fund, 2 deals together
- [Michael & Susan Dell Foundation](https://shizune.co/investors/profile/michael-susan-dell-foundation) — VC Fund, 2 deals together

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## Featured in investor lists
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## FAQ

### What does Bonsal Capital invest in?

Bonsal Capital invests primarily in Education, Software and EdTech startups, most often at Series A and Seed stage. Most of the 26 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Bonsal Capital's check size?

Bonsal Capital typically joins rounds of $800k–$3.7M at Seed and $1.3M–$11M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Bonsal Capital participates in.

### When did Bonsal Capital last invest?

The most recent investment recorded for Bonsal Capital closed in Jul 2022. Shizune tracks 26 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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