- Mercury Fund, a VC firm with a presence in Houston, Texas and Ann Arbor, Michigan has raised $82.25 million for Ventures IV
- The planned offering is expected to reach $125 million
Mercury Fund, a venture capital firm with a major presence in Houston, Texas and Ann Arbor, Michigan, has raised $82,250,000 for its fourth fund known as Mercury Fund Ventures IV out of a planned $125 million offering according to a regulatory filing via PEHub.
The general partners listed on the filing include Blair Garrou (managing director based in Houston), Dan Watkins (managing director based in Houston), Adrian Fortino (managing director based in Ann Arbor) and Aziz Ahmed Gilani (managing director based in Houston).
Launched in 2005, Mercury Fund now has $275 million under management. What distinguishes Mercury Fund from other VC firms is that it seeks out hidden gems in “Middle America.” But Mercury Fund still benefits from investing in companies on both coasts. For example, Mercury Fund most recently invested in the $76 million Series B round of San Francisco-based BlackThorn Therapeutics according to Crunchbase News. And recently, Mercury Fund saw a solid exit with TrendKite getting acquired by Cision for $225 million.
The planned $125 million offering would be Mercury Fund’s largest. Previously, Mercury Fund raised $20 million for the first fund, $70 million for the second fund, and $105 million for the third fund. Mercury Fund primarily invests in companies in the SaaS, cloud, AI, and biopharmaceutical space.
Previously, Mercury Fund was known as “DFJ Mercury” as it launched as part of the Draper Fisher Jurvetson franchise. The DFJ branding was dropped in 2012 in order to establish its own identity.
