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Mercury Fund is an early-stage venture capital firm founded in 2005 and headquartered in Texas. The firm focuses on investing in disruptive technology startups that are reimagining core industries, particularly those located outside of Silicon Valley. Mercury Fund leads Seed and Series A funding rounds, typically investing between $1 million and $5 million in capital-efficient startups. The firm has a total AUM of $750 million and has successfully managed five funds, with the latest, Fund V, closing at $160 million in September 2023.
Mercury Fund operates across multiple U.S. locations, including Houston, Austin, Detroit, and Chicago. The firm has established itself as one of the largest early-stage venture capital firms in Texas, with a portfolio that includes 28 companies. Notable milestones include significant exits such as Ambiq and Plasma, showcasing the firm's ability to identify and support high-potential startups.
Mercury Fund specializes in early-stage investments, particularly in Seed and Series A funding rounds. The firm typically invests between $1 million and $5 million in startups that leverage digital transformation across various sectors, including fintech, healthcare, energy, logistics, defense, AI, and SaaS. Mercury Fund is particularly interested in entrepreneurs who are in the early stages of product-market fit or looking to scale their businesses.
Key investment themes include enhancing product journeys and expanding access to capital through fintech and blockchain technologies. The firm actively seeks capital-efficient startups that can achieve sustainable growth while reimagining core industries. Mercury Fund's geographic focus is primarily on the Central U.S., aiming to foster innovation in regions outside of Silicon Valley.
Mercury Fund's portfolio includes a diverse range of companies that exemplify its investment strategy. Notable portfolio companies include:
These companies reflect Mercury Fund's commitment to investing in innovative technologies and solutions that drive digital transformation across various sectors.
Blair Garrou: Managing Partner. Co-founder of Mercury Fund, Blair has extensive experience in venture capital and is an adjunct professor at Rice University. He has a strong background in supporting early-stage technology startups.
Adrian Fortino: General Partner. Adrian brings a wealth of experience in venture capital and has been instrumental in identifying and supporting high-potential startups within the firm's portfolio.
Aziz Gilani: General Partner. Aziz has a strong track record in venture capital and focuses on helping startups achieve their growth objectives through strategic guidance and operational support.
Samantha Lewis: Partner. Samantha plays a key role in managing the firm's investments and supporting portfolio companies in their growth journeys.
To pitch to Mercury Fund, founders should use the contact form available at this link or email contact@mercuryfund.com. It is important to include a comprehensive pitch deck that outlines the business model, market analysis, and financial projections. Mercury Fund typically responds to inquiries within a few weeks, and warm introductions are preferred but not required.
In September 2023, Mercury Fund closed its largest fund, Fund V, at $160 million, indicating a strong commitment to investing in early-stage startups. The firm has been actively investing in SaaS and data platform founders, reflecting its focus on disruptive technologies.
Mercury Fund has reported a total of 28 exits, with the latest being Ambiq in July 2025. This highlights the firm's successful track record in identifying and supporting high-potential startups.
What are Mercury Fund's investment criteria?
Mercury Fund focuses on early-stage startups, particularly in Seed and Series A funding rounds. The firm typically invests between $1 million and $5 million in capital-efficient companies across sectors such as fintech, healthcare, energy, logistics, defense, AI, and SaaS.
How can I apply or pitch to Mercury Fund?
Founders can pitch to Mercury Fund through their contact form available at this link or via email at contact@mercuryfund.com. It is advisable to include a detailed business plan and financial projections in the pitch.
What makes Mercury Fund different from other venture capital firms?
Mercury Fund distinguishes itself by focusing on disruptive technology startups located outside of Silicon Valley, particularly in the Central U.S. The firm emphasizes capital efficiency and aims to support entrepreneurs in achieving product-market fit and scaling their businesses.
What is Mercury Fund's geographic scope?
The firm primarily invests in startups based in the United States, with a strong focus on the Central U.S. regions, including Texas, Michigan, and Illinois.
What kind of post-investment involvement does Mercury Fund have?
Mercury Fund provides strategic guidance, operational support, and access to resources that help startups achieve their growth objectives. The firm actively engages with its portfolio companies to ensure they are well-positioned for sustainable growth.
What is the size of Mercury Fund's latest fund?
Mercury Fund's latest fund, Fund V, closed at $160 million in September 2023, making it the largest fund in the firm's history.
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