Immad Akhund, co-founder and CEO of Mercury, has announced the establishment of a $26 million fund aimed at supporting early-stage startups. This initiative formalises his substantial history as an angel investor, which he has pursued since 2016, having invested in over 350 startups, including notable names like Airtable, Applied Intuition, and Substack.
Akhund expressed his enthusiasm for backing entrepreneurs, stating, “I love supporting entrepreneurs – whether it’s through building Mercury or investing. It gives me energy, perspective, and deep satisfaction to help ambitious founders build the future.” He believes that a dedicated fund will enable deeper engagement with founders and more impactful investments.
The fund will concentrate on founders who have demonstrated a “proven track record of building impactful products” and will prioritise opportunities in markets valued at $10 billion or more. Akhund aims to back startups that are developing solutions with the potential to advance humanity. Joining him in this endeavour is Yash Doshi, an early Mercury investor who will assume the role of partner, assisting in the operation and investment processes.
Mercury itself has recently secured $300 million in funding, achieving a post-money valuation of $3.5 billion, effectively doubling its value since its last fundraising round in 2021. This impressive growth was bolstered by investments from prominent firms like Sequoia, Coatue, and Andreessen Horowitz, among others.
Through this new fund, Akhund is looking to operationalise his investment strategy and provide robust support to up-and-coming entrepreneurs. His commitment to Mercury remains unwavering, as he continues to focus on the company while also expanding his efforts to nurture the next generation of innovative startups.
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