Mercury Announces $160M Mercury Fund V

September 28, 2023Client News

Gunderson Dettmer represented client Mercury in the fund formation of Mercury Fund V, a fund with $160 million in capital commitments. Fund V is Mercury’s largest to date and will be invested in U.S. early-stage founders with unique experiences building transformational SaaS and Data platforms in smaller tech markets. Mercury utilizes an operationally-focused investment model, onboarding portfolio companies onto its platform and providing the resources they need to achieve rapid, sustainable growth.

In the announcement of the fund formation, Mercury Fund co-founder and managing director Blair Garrou said, “Over the past few years there has been a tremendous migration of talent, wealth and know-how to non-coastal venture markets and this surge of economic activity has further accelerated the creation of extraordinary new companies and technology. As the first venture capital firm to have recognized the attractiveness of these incredible regions a dozen years ago, we are excited to continue sourcing new opportunities to back founders and help these cities continue to grow and thrive.”

The Gunderson Dettmer deal team was led by Steve Franklin and Jason Ford and included Sally Yi.