Mercury Fund – a premier early-stage venture firm focused on investments outside of traditional coastal tech hubs – recently announced the successful closing of Mercury Fund V, with $160 million in capital commitments. The Fund is Mercury’s largest to date and was oversubscribed, exceeding the initial target of $150 million. The Fund V received significant support from existing investors and new limited partners, including university endowments, foundations, and family offices – many of which are based in the central U.S. region where Mercury invests.
Fund V builds on the firm’s extensive track record of success throughout multiple economic cycles by investing in founders with unique experience building transformational SaaS and Data platforms in smaller tech markets. Since these regions often do not have access to startup ecosystems and resources like their coastal counterparts, Mercury utilizes an operationally focused investment model, onboarding portfolio companies onto the firm’s platform and providing the resources they need to achieve rapid, sustainable growth. Since its launch in 2013, Mercury has helped create over $9 billion of enterprise value across its portfolio of over 50 companies.
Fund V has already made several notable investments. These include:
1.) RepeatMD, a Houston-based patient engagement and fintech platform for doctors selling non-insurance reimbursed products
2.) Polco, a Madison, Wisconsin-based community engagement polling platform for local governments, school districts, law enforcement, and state agencies
3.) MSPbots, a Chicago-based AI-driven process automation platform for small and mid-sized managed service providers (MSPs)
4.) Brassica, a financial infrastructure technology company developing enterprise solutions for the new era of alternative assets
KEY QUOTES:
“We are pleased by the substantial support we received for Fund V from both new and existing investors and thank them for placing their confidence in Mercury. Their support is testament to the strength of our team, proven investment strategy, and the compelling opportunities for innovation that exist in cities across America.”
“Over the past few years there has been a tremendous migration of talent, wealth and know-how to non-coastal venture markets and this surge of economic activity has further accelerated the creation of extraordinary new companies and technology. As the first venture capital firm to have recognized the attractiveness of these incredible regions a dozen years ago, we are excited to continue sourcing new opportunities to back founders and help these cities continue to grow and thrive.”
Blair Garrou, co-founder and Managing Director of Mercury Fund
