Alex Gras brings a rare hands-on background to venture investing, having worked as an oil and gas engineer, served as Chief Commercial Officer at The Cannon, and co-owned Houston hospitality businesses like Love Croissants, Weights + Measures, and Petite Lucie, which shapes his focus on using AI to solve real problems in slow-moving industries like energy, heavy industry, real estate, sports, and hospitality. He pays particular attention to why companies struggle to actually adopt AI—due to messy data, old systems, and trust issues—and shares this perspective through his podcast, AI After Dark, which looks at how companies are really built once the hype fades.
About their Fund
Sectors
SaaS, AI, Fintech, Data, Enterprise
Rounds
Pre-Seed - Series A
Avg Check Size
$1M–$5M; Pre-Seed $100K
Notable Investments
Mercury is a venture fund that focuses specifically on SaaS and data-platform founders in smaller tech markets outside Silicon Valley and other coastal hubs, betting that founders who understand local industries will lead the next wave of vertical AI companies. It backs this focus with structured support such as the Mercury Method, OpsHygiene, an in-house AI lab called Quicksilver Labs, and liquidity planning that starts 18-24 months before a company is ready for M&A, while also investing in overlooked real-economy sectors like energy, industrials, healthcare, construction, manufacturing, and defense.
Other partners at the fund
Notable Fund
Investments
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Sheets they're in
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Sheets they're Fund is in
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Popular Investors
investor name
Active in
Rounds
Avg. Check
Links
Deeptech / Hardware
Robotics
Biotech
+
12
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Defense
Deeptech / Hardware
Energy
+
7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Defense
Deeptech / Hardware
Energy
+
7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Biotech
Health
Deeptech / Hardware
+
2
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Unknown
Pre-Seed - Seed
Unknown
$250K - $2M
Unknown
Climate
Deeptech / Hardware
Materials
+
4
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Unknown
Pre-Seed - Seed
Unknown
$400K - $1.5M
Unknown
Deeptech / Hardware
Robotics
Biotech
+
7
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Deeptech / Hardware
Robotics
Biotech
+
2
View more in profile...
Unknown
Pre-Seed - Seed
Unknown
~$750K
Unknown
Fintech
Deeptech / Hardware
Devtools
+
2
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Unknown
Pre-Seed - Series A
Unknown
$250K-$1M
Unknown
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