Immad Akhund, co-founder and CEO of Mercury, has announced the establishment of a $26 million fund dedicated to investing in early-stage startups. This initiative formalizes Akhund’s extensive history as an angel investor, during which he has supported over 350 startups since 2016. His diverse portfolio includes notable companies such as Airtable, Applied Intuition, Decagon, Gecko Robotics, Linear, and Substack.
Akhund expressed his enthusiasm for supporting entrepreneurs, stating that it provides him with energy, perspective, and deep satisfaction. He emphasized that the creation of a dedicated fund will enable him to offer more substantial support to ambitious founders. Despite this new venture, Akhund remains fully committed to his role at Mercury.
The fund aims to invest in founders with a proven track record of developing impactful products, targeting markets valued at $10 billion or more. It seeks to back startups that are pursuing solutions to advance humanity. To enhance the investment process, Akhund has brought on Yash Doshi as a partner. Doshi, an early investor in Mercury, has collaborated with Akhund on previous investments.
In March 2025, Mercury raised $300 million in primary and secondary funding, doubling its valuation to $3.5 billion from its 2021 Series B funding round. The round was led by Sequoia, with participation from Coatue, CRV, Andreessen Horowitz, Spark Capital, and Marathon.
