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MState
MState was established in 2015 by Evan Daniel and Jackie Rosenthal, who previously worked at the intersection of corporate strategy and venture capital.
MState
MState was established in 2015 by Evan Daniel and Jackie Rosenthal, who previously worked at the intersection of corporate strategy and venture capital. The firm operates as a multi-family office with offices in New York and Miami, managing capital from undisclosed families and running a venture practice that focuses on early-stage technology companies. Its strategy combines direct venture investments with corporate innovation programs: MState builds custom innovation labs for Fortune 500 clients, then offers its family office network co-investment rights in the startups emerging from those programs. Sectors covered include enterprise software, digital health, fintech, and industrial tech. MState has publicly acknowledged investments in companies such as Snyk and LaunchDarkly, though a full portfolio list is not available (per public record, 2022). The geographic footprint is primarily North America, with some European exposure. The firm maintains a lean team; exact headcount is undisclosed but estimated under 20 professionals. It does not disclose AUM. MState also runs an annual conference called MState Summit, convening family offices, corporate venture units, and startups. In October 2023, the firm announced a partnership with a global insurance company to launch a dedicated innovation fund (per public record). What distinguishes MState is its co-innovation model: it does not simply allocate capital but actively structures deals by matching family office investors with corporate innovation needs. This gives its family office network proprietary access to deal flow that originates from corporate R&D rather than traditional venture sourcing.
General information
Firm type
Multi Family Office
Year founded
2015
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Miami, FL, United States
Principals
Evan Daniel
Co-Founder & CEO
Jackie Rosenthal
Co-Founder & COO
Sector focus
Frequently asked questions
Who runs investment decisions at MState?
Co-founders Evan Daniel (CEO) and Jackie Rosenthal (COO) lead the firm. The investment committee likely includes both principals and external advisors, though a full list is not publicly disclosed.
How does MState source proprietary deal flow?
MState builds custom innovation labs for corporate clients, which generate startups that it then offers as co-investment opportunities to its family office network (per public record). This model creates a pipeline distinct from traditional venture scouting.
Is MState structured as a single family office or a multi-family office?
MState operates as a multi-family office, managing capital from a network of family offices rather than a single wealthy family. It also conducts corporate innovation consulting, which is atypical for a pure family office.
Does MState participate in fund commitments or only direct deals?
MState primarily engages in direct co-investments alongside its corporate partners and family office network. It does not publicly disclose any fund-of-funds activity.
What investment stages does MState typically target?
The firm focuses on early-stage technology companies, typically seed through Series B rounds. Its corporate innovation pipeline often produces startups at the pre-seed or seed stage.
Which sectors does MState explicitly avoid?
MState does not publicly disclose any excluded sectors. Based on its corporate partnerships, the firm focuses on technology areas where incumbent corporations need innovation, such as enterprise software, fintech, and digital health.
How is MState related to any parent or related vehicle?
MState is a standalone private firm with no publicly disclosed parent company or institutional affiliation. Its corporate partners are clients, not owners.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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