The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC Exclusive: Mercury Founder Launches First $26M Fund | Why Founders Should Take the Highest Price | Why Serial Entrepreneurs are Better | Why AI Is So Overhyped | The Future of Venture Capital with Immad Akhund
May 12, 2025
Immad Akhund, CEO of Mercury, a banking platform for startups, discusses his new $26M fund and shares lessons from over 350 angel investments. He emphasizes that founders should always aim for the highest price and explains how serial entrepreneurs often outperform. Immad critiques the hype surrounding AI investments while advocating for sustainable business models. He also reflects on the dynamic future of venture capital, the importance of company culture, and the unique challenges of fundraising in a post-valuation world.
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Quick takeaways
- Immad Akhund emphasizes that founders should always advocate for the highest price during fundraising to secure substantial capital for growth.
- Drawing from his extensive angel investment experience, Imad champions the importance of understanding and supporting the unique journeys of entrepreneurs.
Deep dives
Imad's New Institutional Fund
Imad announced the closure of his first institutional fund, raising $26 million. He is partnering with Yash Doshi, who had invested in Mercury seven years ago and brings experience from EQT Ventures. The fund will focus on making initial investments in approximately 60 companies with an average check size of $150,000, prioritizing partnering with existing successful entrepreneurs rather than leading rounds. This structure allows for a diversified portfolio and addresses the increase in deal flow that has come with Mercury's success.
