By Dan Primack
April 16, 2014

FORTUNE — Early-stage venture capital firm MHS Capital is nearing a $75 million final close on its second fund, Fortune has learned.

The San Francisco-based firm is led by Mark Sugarman, a longtime angel investor who previously held roles at Nutrisystem, VerticalNet and Internet Capital Group. It raised around $34 million for its first institutional fund, which had a gross asset value of nearly $128 million through March 31 (according to a regulatory filing).

MHS portfolio companies include OPower, Indiegogo, Simply Measured and Platfora.

Sugarman declined to comment.

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