MBX Capital (formerly FundRx) is an early-stage venture capital firm that invests in deep health companies at the convergence of biology, chemistry, AI/ML, robotics, and clinical medicine. The firm collaborates with a distributed network of scientific and clinical experts to source and peer-review investments.
35% of their portfolio is in Healthcare. Deal activity decreased year-over-year (1 deals in the last 12 months vs 2 prior). Their most common stage is series-a (50% of deals). Average disclosed round size is $24.5M (across 19 rounds with reported amounts).
Portfolio
20
Fund Size
—
Top Stage
Series A
Last 12 Mo
2
Team
ZM
Zeshan Muhammedi
Co-founder & Managing Partner
GS
Gurdane Singh Bhutani
Partner
LR
Lucy Reynales Mohan
Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
20 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Think Bioscience | Series A | $55M | Jan 2026 |
 Keebler | Unknown | $16M | Jan 2026 |
 Keebler Health | Seed | $6M | Feb 2025 |
 Tidal Vision | Series B | $140M | Feb 2025 |
| PPersist | Series A | $12M | Jan 2025 |
 Vivodyne | Seed | — | Nov 2023 |
 Arine | Series B | $29M | Aug 2022 |
 OFFOR Health | Series A | $9M | Apr 2022 |
 Dezy | Series A | $6M | Jan 2022 |
| DDezy | Series A | $6M | Jan 2022 |
| SSmiles.ai | Series A | $23M | Jan 2022 |
 Ixlayer | Series A | $75M | Mar 2021 |
 Lucy Goods, Inc | Series A | $10M | Feb 2020 |
 Osmosis | Seed | $4M | Jun 2019 |
 FREEDOM BIOSCIENCES | Seed | $10.5M | — |
 Amacathera | Series A | $10.3M | — |
 Macro Trials | Seed | $6M | — |
 Journey Colab | Seed | $3M | — |
 JUNIPER GENOMICS | Seed | $4.6M | — |
 Atlas Health | Series A | $40M | — |
Top Co-Investors
Chiratae Ventures3 shared
Greycroft2 shared
Felicis2 shared
Underdog Labs2 shared
Everywhere Ventures2 shared
Freestyle Capital2 shared
New Stack2 shared
Hustle Fund2 shared
Surge2 shared
Alpha Wave Global2 shared
Peak XV Partners2 shared
Village Global2 shared
Innospark Ventures2 shared
Alpha Wave Incubation2 shared
Electric Capital1 shared
Social Starts1 shared
Ribbit Capital1 shared
Paradigm1 shared
LearnStart1 shared
Y Combinator1 shared
Last updated: 8 September 2026