Houston, Texas-based Mercury Fund has raised $82.25 million of a $125 million targeted fourth fund, Mercury Fund Ventures IV, according to a regulatory filing. The fund is the firm’s largest to date, having closed on $105 million in 2014. The commitments to date have come from 85 investors, according to the filing.
The firm was previously called DFJ Mercury and was part of the DFJ affiliate network, but dropped that branding in 2012. Mercury Fund is led by Managing Directors Adrian Fortino, M. Blair Garrou, Aziz A. Gilani and Daniel Watkins.