▼ Summary
– Mercury CEO Immad Akhund launched a $26 million fund to back early-stage startups, formalizing his history of angel investing.
– Akhund has invested in over 350 startups since 2016, including notable companies like Airtable, Substack, and Linear.
– The fund aims to provide structured support to founders, with Yash Doshi joining as a partner to operationalize the investment process.
– The fund will focus on founders with a proven track record, target $10B+ markets, and back startups advancing humanity.
– Mercury recently raised $300 million at a $3.5 billion valuation, with investors including Sequoia, Coatue, and Andreessen Horowitz.
The CEO of Mercury has unveiled a $26 million investment fund aimed at supporting promising startups in their earliest phases, marking a strategic expansion of his long-standing involvement in angel investing. This initiative builds on his track record of backing more than 350 emerging companies since 2016, with notable successes including Airtable, Substack, and Applied Intuition.
Immad Akhund, who co-founded the widely adopted business banking platform Mercury, emphasized his passion for empowering entrepreneurs through both operational leadership and financial backing. In a recent statement, he described how investing fuels his enthusiasm for innovation while reinforcing his commitment to Mercury’s growth. The new fund will allow him to provide more systematic support to founders, combining capital with structured guidance.
To streamline operations, Akhund has brought on Yash Doshi, an early Mercury investor, as a partner. Together, they plan to target startups led by founders with demonstrated experience in creating high-impact products. The fund will prioritize ventures operating in markets valued at $10 billion or more, particularly those developing solutions with the potential to drive meaningful societal progress.
This announcement follows Mercury’s recent $300 million funding round, which doubled the company’s valuation to $3.5 billion. Major investors like Sequoia, Coatue, and Andreessen Horowitz participated, underscoring confidence in Mercury’s trajectory. While Akhund remains fully dedicated to scaling the fintech platform, the new fund represents a parallel effort to nurture the next generation of transformative businesses.
(Source: TechCrunch)
