In order to convert virtual machines from one program to another (in this case from Virtual PC to Microsoft Virtual Server), you will need to convert all files as a bundle and not just few files. It is true that the wizards used for conversion usually let you pick one file with settings (like .vmc), but you will also need all of the remaining files for a successful conversion of whole virtual machine.
Convert Microsoft Virtual PC settings to Virtual Hard Disk.
We found 4 software records in the database related to .vmc to .vhd file format conversion.
Microsoft Windows software - convert vmc to vhd on Windows
A application used to run virtual computers on one workstation
Convert from vmc file format
The tables with software actions are a good pointer for what a certain program does with various file types and often may give users a good hint how to perform certain file conversion, for example the above-mentioned vmc to vhd. However, it is not perfect and sometimes can show results which are not really usable because of how certain programs work with files and the possible conversion is thus actually not possible at all.
A virtualizing solution for small businesses and professionals
Apple macOS / Mac OS X software - convert vmc to vhd on OS X
Mac version of the popular virtualization software
Linux/Unix software - convert vmc to vhd on Linux
Virtualizing software for Linux operating system.