SA国际传媒

Houston-based has raised $82 million for its fourth fund, Mercury Fund Ventures IV, for which it aims to raise a total of $125 million, according to a that PE Hub Thursday.

Subscribe to the SA国际传媒 Daily

Founded in 2005, Mercury Fund has $275 million under management (per its ) and has historically focused on investing in 鈥渕iddle America.鈥� That doesn鈥檛 mean it doesn鈥檛 back companies on the coasts. Its most recent investment was participating in South San Francisco-based 鈥檚 $76 million .

If Mercury Fund raises its targeted $125 million, this fourth fund would be , according to SA国际传媒 data. It raised $20 million in its first fund in 2005, $70 million for its second fund in 2010 and $105 million in its third fund in 2014. The firm typically waits four to five years in between raising new funds.

It targets SaaS, cloud, and data science/AI platforms 鈥渢hat make the industrial ecosystems of Middle America more competitive and efficient,鈥� according to its website. The firm was previously known as 鈥淒FJ Mercury,鈥� and was a member of the DFJ affiliate network, but 鈥渄ropped that branding in 2012,鈥� according to PE Hub.

Over the years, Mercury has had 16 known , according to its SA国际传媒 profile. Most recently in January, Austin-based portfolio company for $225 million.

Managing directors (also co-founder), (also co-founder), and are all listed as general partners on the filing.

The fund would be the latest in a string of new funds raised in Texas this year so far. Last month, we reported on听, an Austin-based healthcare and life science-focused venture firm, raising $250 million in its third fund. In April, we covered Austin-based 听close of its second fund, which topped out at $105 million.

I鈥檝e reached out to Mercury Fund for comment and will update this post if they get back to me.

Illustration: