Multiphase pumps are increasingly being used to transport gas-liquid multiphase flow in the oil and gas industry. Complexity of two-phase flow interaction and varying designs of multiphase pumps pose significant challenges to developing generalized performance prediction tool similar to the affinity laws. The goal of this study is to characterize the performance of two multiphase pumps with different specific speeds using experimental data to develop generalized prediction models. Initially, the performance is investigated in the terms of head, power input and efficiency for different Gas Volume Fractions (GVF). Dimensional analysis is performed to evaluate the effect of pump geometry and GVF. Head degradation due to the presence of gas is presented in the terms of dimensionless numbers. These numbers represent the systematic change in the energy loss due to two phase flow interaction and inherent characteristics of the pump design. This is utilized to develop a generalized model for two phase flow. The study is concluded by validating the model using experimental data.