Immad Akhund, co-founder and CEO of Mercury, has announced a new venture: a $26 million fund aimed at supporting early-stage startups. This initiative formalizes Akhund’s longstanding involvement in angel investing, which he began in 2016, during which he has supported over 350 nascent companies. Notable investments in his portfolio include Airtable, Applied Intuition, and Substack.
Investment Strategy and Focus
Akhund expressed his enthusiasm for entrepreneurship, stating that he gains energy and satisfaction from helping ambitious founders. The creation of a dedicated fund enables him to engage more deeply and meaningfully with startups. In addition to this fund, Akhund will partner with Yash Doshi, an early investor in Mercury who has worked alongside him on various projects.
Objectives for the Fund
The fund is designed to target founders with a proven history of creating impactful products and will focus on markets valued at $10 billion or more. Akhund’s goal is to invest in startups that are developing solutions aimed at “advancing humanity.”
Recent Developments at Mercury
In March, Mercury raised $300 million in primary and secondary funding, achieving a post-money valuation of $3.5 billion—double its valuation from 2021. The funding round attracted participation from notable investors including Sequoia, Coatue, and Andreessen Horowitz.