October 18-20 | Tucson, AZ

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Houston venture capital firm opens Ann Arbor office headed by U Michigan Graduate

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

University of Michigan graduate and serial entrepreneur Adrian Fortinio will lead a new office for the Houston-based Mercury Fund–a venture capital firm–according to a report in Crain’s Detroit Business.

Fortino co-founded FlockTag and was a vice president at Invest Detroit before being tapped to lead Mercury’s new Ann Arbor office. The firm, which raised more than $100 million for its newest fund, chose Ann Arbor over Chicago for its Midwest office thanks to the city’s depth of engineering, computer science and machine-learning talent.

The Michigan Economic Development Corporation’s Michigan Venture Fund II committed more than $10 million to Mercury’s current fundraising efforts and a fund associated with Business Leaders for Michigan also pitched in $5 million. According to Crain’s, more than 20 percent of Mercury’s previous fund–a $70 million pool–in Michigan companies.

The fund’s office is located in the Headwaters space in Kerrytown.

via Report: Houston venture capital firm opens Ann Arbor office | MLive.com.

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