Texas-based seed and early-stage venture firm Mercury announces $105m fund.
Mercury Fund, a Texas-based venture capital firm, has revealed its third fund, offering up $105m for early-stage software and research-based companies.
Mercury Fund III brings the venture capitalist’s total funds under management to $200m, and will target companies at the seed and early-stage.
Amongst those set to benefit are academic spin-outs and startups licensing university technologies, as well as software companies, based in the southwest, Midwest, and Rocky Mountain areas of the US.
Dan Watkins, managing director of Mercury Fund, said: “We are believers that significant technical and scientific innovation is originating in the Midcontinent. Our firm has a particular interest in entrepreneurs associated with regional startup development organisations, such as seed accelerators, incubators and university tech transfer offices. Many of our investments have originated through these relationships, which we expect will continue throughout the investment period of Fund III.”
