A.T.

Proud papa and lover of big adventures. 5-time founder including @MadisonReedllb, @Zynga, Coremetrics. Operating Partner at @BullpenCap. Onward!

[A.T. @andrewtrader]

@immad Congrats on the $200m Series D, amazing growth, new products and remaining profitable for 4 years! We're very proud Seed investors at Early Impact Ventures. @mercury @immad

[A.T. @andrewtrader]

@mercury and @immad Congrats on the absolutely amazing progress and Series C! We're proud and grateful seed investors. Thank you for your inspirational leadership!

[immad @immad]

1/ Today, @Mercury announced a $300 million Series C in a mix of primary & secondary funding at a $3.5B valuation, led by @Sequoia, with participation from @sparkcapital, @MarathonMP, @coatuemgmt, @CRV, & @a16z.

I’m deeply humbled by the growth we’ve experienced.

🧵

[A.T. @andrewtrader]

@immad @mercury @sequoia @sparkcapital @MarathonMP @coatuemgmt @CRV @a16z @mercury and @immad Congrats on the absolutely amazing progress and Series C! We're proud and grateful seed investors. Thank you for your inspirational leadership!

[A.T. @andrewtrader]

Very proud and grateful to be a seed investor in @mercury . Immad and the entire Mercury team are on a powerful mission to revolutionize banking. Congrats on an absolutely amazing year, and much more to go! @immad

[immad @immad]

1/ Mercury 2025 Annual Letter:

Our vision is that banking* should do more than hold your money. It should include the cards and software you need to actually use your money.

In 2024, we took huge strides to bring that vision to life:
* Grew transaction volume to $156bn.
* Launched 4 new major products – bill pay, invoicing, accounting automations and expense mgmt
* Expanded into the consumer space with Mercury Personal*
* Invested in our core banking infrastructure and experience

Here’s how we got here and what we learned along the way 🧵

[A.T. @andrewtrader]

Another safe and secure product from Mercury, this one for VC funds.

[immad @immad]

Excited to announce that we’ve expanded support for VC funds. SVB played a key role in the startup ecosystem, not just serving startups but the investors who back them.

VC funds have unique structures and needs for banking. They often need multiple accounts, and want the ability to toggle between them with ease.

With @mercury, VCs will get:

* Quick & easy onboarding. Apply for an account in <10 minutes and get expedited approval
* 1:1 relationship management
* Fast and free wire transfers
* Custom user controls
* Multiple accounts for GPs, LPs and more
* Real-time instant investing into other Mercury accounts
* Expanded VC-friendly jurisdictions including the British Virgin Islands, Cayman Islands and the United Arab Emirates. These have long been important jurisdictions for VC funds.

If you’d like to set up an account, DM me and I’ll expedite your request. More here: https://t.co/YhlFxA1c10

[A.T. @andrewtrader]

Amazing work @immad and @mercury team! Vault is timely and an incredible innovation.

[immad @immad]

We worked all weekend to launch Mercury Vault:

* $3m in FDIC insurance via partner banks
* Short term US govt t-bills for &gt;$3m deposits via Mercury Treasury
* Dashboard to help you understand and automate where your money is

Will be improving it all week!

[Bullpen Capital @bullpencap]

Check out the @WSJ exclusive on Bullpen VI. @Bullpencap just raised its largest fund to date to back more 'unloved gems.'

cc: @annisms @ewiesen @ahpah @duncandavi

https://t.co/U4aZIf9hdf

[A.T. @andrewtrader]

@bullpencap @WSJ @annisms @ewiesen @ahpah @duncandavi Exciting news, and the largest fund ever during a very difficult time to raise.

[A.T. @andrewtrader]

@bullpencap @duncandavi "Unicorns are mythical creatures." Right again @duncandavi

[A.T. @andrewtrader]

Another innovative and super valuable product from @immad and @BankMercury team!

[Mercury @mercury]

We’re excited to announce Mercury Venture Debt: https://t.co/Xe0rIbFvD6

Enhance your VC round—get minimally-dilutive capital, extend your runway, and hit milestones to reach a higher valuation at your next fundraise.

Here's what you can expect👇

[ELLE Magazine (US) @ELLEmagazine]

Ann Lai quit her job at Binary Capital, hoping to sound an alarm about industry-wide sexism. But she soon learned she'd unwittingly signed a non-disparagement agreement and thus couldn't say a thing. So she sued. This is the story of her fight to be heard. https://t.co/77IcTEZoh8

[A.T. @andrewtrader]

Super excited for @immad and @BankMercury!! Honored to be a small part of this amazing journey!

[Mercury @mercury]

We're excited to let you know we raised a $120m Series B led by Coatue, with participation from @a16z, @CRV, &amp; @SapphireVC.

We also want our customers to be part of our success, so we're doing something new.

We've set aside a $5m allocation to let you into the round 👇

[Mercury @mercury]

As we gain momentum, we want our customers to be able to take a stake in our growth.

If you believe in what we’re building, you can join the round &amp; learn more at our Wefunder page: https://t.co/1ywlWcFDcW

[A.T. @andrewtrader]

@bullpencap @Sportico Massive opportunity at the intersection of sports betting and SPACs.

[A.T. @andrewtrader]

@vntrlab @bullpencap Thank you @vntrlab @ktulrich @tranglanimous for hosting this #FounderFriday Q&amp;A! Excited and honored to be an #entrePENNeurs!! @andrewtrader

[Venture Lab @vntrlab]

Thank you to everyone who participated in/viewed our #FounderFriday Q&amp;A w/ @andrewtrader , who's on the Venture Lab Advisory Board and an Operating Partner at @bullpencap !

Feel free to respond to the Qs and ask your own Qs too! We'll be back next week.

[A.T. @andrewtrader]

@vntrlab One of the best parts of @bullpencap, we don’t predict the future. AI in 2030?! AR/VR in 2035?! We have no idea. But @bullpencap we know what a great early stage business looks like. Do you have $1m in revs, growing 3x and a team of 10-20? You’re the founder we want to talk to!!

[Venture Lab @vntrlab]

Q6: What exciting trends do you see on the horizon for venture capital? #venturelabchat

[A.T. @andrewtrader]

@vntrlab @bullpencap 3/3 @Bullpencap We’ve invested in amazing companies including @FanDuel, @IPSY, @grovecollab, @CarbonHealth, @Life360, @ocrolus and @Braze.

[A.T. @andrewtrader]

@vntrlab @bullpencap 2/3) We look for companies that have been overlooked by traditional VCs. Are you in an unloved sector, geography or founders that have been underestimated? Send us your deck! We want founders w a chip on their shoulders, deep domain knowledge, and know their metrics, cold.