Mercury Fund, a Houston, TX-based early-stage venture firm, raised $160M in capital commitments.
Fund V, Mercury’s largest to date, received 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 the firm invests.
Mercury Fund is an early-stage venture capital firm partnering with software entrepreneurs to drive innovation across Middle America. Its investment themes target B2B and B2B2C SaaS and Data platforms enabling the digital development of markets, industries, and customer relationships, in smaller tech markets.
The firm uses 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 investments including:
- RepeatMD, a Houston-based patient engagement and fintech platform for doctors selling non-insurance reimbursed products;
- Polco, a Madison, Wisconsin-based community engagement polling platform for local governments, school districts, law enforcement, and state agencies;
- MSPbots, a Chicago-based AI-driven process automation platform for small and mid-sized managed service providers (MSPs); and
- Houston and Cheyenne, Wyoming-based Brassica, a financial infrastructure technology company developing enterprise solutions for the new era of alternative assets.
The firm has offices in Austin, Chicago, and Detroit.
Commenting on the news, Blair Garrou, co-founder of Mercury, said: “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.“