Mercury Executive Director Formalizes Early Stage Bets with a $ 26 million fund
Co -founder and CEO of Mercury Immad akhund Today he announced the start of a fund for $ 26 million to start startups at an early stage, a move that formalizes his vast history of Angel Investing. Axios It was first announced in February.
Akhund has been an active Angel investor since 2016, supporting over 350 start -up companies at its worst stages. His portfolio includes companies such as Airtable, Applied Intuition, Decagon, Gecko Robotics, Linear and Substack, among others.
“I like to support entrepreneurs – whether it is mercury or investing. It gives me energy, perspective and deep satisfaction to help the ambitious founders build the future. tweet Today he also adds that he is still 100% focused on Mercury.
By launching a fund, the CEO of one of the most used business banking platforms worldwide hopes to provide more structured support for the founders while operating its investment process. This includes the introduction of Yash Doshi as a partner, an early investor in Mercury, who has been collaborating with Ahund for investment for some time.
The Fund will focus on founders with “proven experience in building impact products”, targeted market opportunities, estimated at $ 10 billion or more, and will return startups, pursuing decisions of “progressing humanity,” says the partner of the former Y Combinator.
This March, Mercury raised $ 300 million for primary and secondary funding At $ 3.5 billion after the monetary estimateDouble your rating from the last time it raised the capital in 2021. Sequoia, Coatue, CRV, Andreessen Horowitz, Spark Capital and Marathon were investors in this round.