Mercury CEO Launches $26M Fund to Support Ambitious Startup Founders

Immad Akhund, co-founder and CEO of business banking platform Mercury, has unveiled a $26 million investment fund aimed at nurturing early-stage startups. This new initiative formalizes his long-standing involvement as an angel investor and underscores his continued commitment to supporting the next generation of tech innovators.

The announcement, initially reported by Axios in February, marks a strategic move for Akhund, who has been a prolific figure in startup investing since 2016.

A Proven Track Record in Angel Investing

Over the past several years, Akhund has built a substantial portfolio by backing more than 350 startups during their formative stages. His investment footprint includes high-growth ventures such as Airtable, Applied Intuition, Decagon, Gecko Robotics, Linear, and Substack.

“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,” Akhund shared on Twitter following the fund’s announcement. He added, “A dedicated fund allows me to go deeper and back founders more meaningfully,” while reaffirming that he remains “100% focused on Mercury.”

Formalizing the Process with Strategic Partnerships

With this new fund, Akhund aims to bring more structure and intention to his investment strategy. To help manage the fund and identify promising opportunities, he’s partnered with Yash Doshi, an early investor in Mercury and a long-time collaborator on investment decisions.

The fund’s strategy centers on identifying founders who have demonstrated an ability to build impactful products. It will target startups operating in markets with a total addressable value of $10 billion or more, and will prioritize companies focused on creating solutions that Akhund believes are “advancing humanity.”

Mercury’s Growing Financial Clout

The announcement comes on the heels of a major funding milestone for Mercury itself. In March 2025, the company secured $300 million in primary and secondary funding, bringing its post-money valuation to $3.5 billion—double its valuation from its previous raise in 2021.

Top-tier venture firms including Sequoia Capital, Andreessen Horowitz, Coatue, CRV, Spark Capital, and Marathon participated in the round, reinforcing Mercury’s position as one of the most influential platforms in modern business banking.

A Vision Rooted in Entrepreneurial Empowerment

This new fund not only amplifies Akhund’s influence in the tech and startup ecosystem but also aligns with his broader mission: to empower founders with both capital and mentorship. The initiative reflects a broader trend in Silicon Valley where successful entrepreneurs are creating venture vehicles to reinvest in the innovation economy.

By formalizing his investment efforts, Akhund is positioning himself—and Mercury—as a key player in the future of tech entrepreneurship.