Mercato Partners
SEC exempt reporting adviser (venture capital exemption).
- HQ
- UT
Mercato Partners is a growth-stage investment firm that invests in leaders changing how we live, learn, and work. Greg Warnock co-founded the firm in 2007 with Alan Hall, and Ben Davis is a Managing Director and member of the Investment Committee. Portfolio companies include Artisight, Atomic, Kalderos, Lambda, and Torus. The firm has described its fourth growth fund in a memorandum.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Growth | Not enough dated deals | Growth, Series A, Series B |
| Sectors | Not stated | Not enough dated deals | Enterprise SaaS, Hardware, Healthtech, Consumer, Data analytics, Devtools |
| Regions | Not stated | Not enough dated deals | UT, CA, CO |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 2007 | 1 | Hardware |
| 2008 | 2 | Enterprise SaaS, Healthtech |
| 2009 | 3 | Hardware, Consumer, Data analytics |
| 2012 | 1 | AI applications, Healthtech |
| 2013 | 5 | Biotech, Consumer, Data analytics |
| 2014 | 4 | Devtools, Data analytics, Enterprise SaaS |
| 2015 | 3 | Hardware, Consumer, Gaming |
| 2016 | 3 | AI applications, Consumer, Data analytics |
| 2017 | 1 | Fintech |
| 2018 | 3 | Devtools, Enterprise SaaS, Gaming |
| 2019 | 4 | Enterprise SaaS, Biotech, Consumer |
| 2020 | 2 | Biotech, Enterprise SaaS, Fintech |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2013 | 0 | 0 | 1 | 2 | 1 |
| 2014 | 0 | 0 | 2 | 1 | 1 |
| 2015 | 0 | 0 | 0 | 0 | 2 |
| 2016 | 0 | 0 | 0 | 1 | 2 |
| 2017 | 0 | 0 | 1 | 0 | 0 |
| 2018 | 0 | 0 | 2 | 0 | 0 |
| 2019 | 0 | 0 | 2 | 1 | 1 |
| 2020 | 0 | 0 | 0 | 1 | 1 |
| 2021 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | 0 | 0 |
| 2025 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 0 | 0 | 0 | 0 | 0 |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Mercato Partners Traverse IIIe, L.P. Growth-stage investment firm that invests in leaders changing how we live, learn, and work. Backs companies in areas such as AI infrastructure, healthcare technology, fintech, and employee benefits. Inferred from the firm's website and portfolio companies | approx. 2023 | $30M (Form D) | Open, writing first checks |
| Mercato Partners Traverse Affiliates IV, L.P. Growth-stage investment firm that invests in leaders changing how we live, learn, and work. Backs companies in areas such as AI infrastructure, healthcare technology, fintech, and employee benefits. Inferred from the firm's website and portfolio companies | approx. 2022 | $40M (Form D) | Open, writing first checks |
| Mercato Partners Traverse IV, L.P. | approx. 2021 | $250M (Form D) | Follow-ons only |
| Mercato Partners Savory II QP, LP | approx. 2021 | $100M (Form D) | Follow-ons only |
| Alpha Fund III, LP | approx. 2020 | Not reported | Follow-ons only |
03 · People across funds
- Andrew Smith, Managing Director of the General Partner of the Issuers
Mercato Partners Savory II QP, LP (Named on Form D)
- Davis Warnock, Manager of the General Partner of the Issuer
Alpha Fund III, LP (Named on Form D)
- Greg Warnock, Manager of the General Partner of the Issuer
Mercato Partners Traverse IIIe, L.P. (Named on Form D); Mercato Partners Traverse Affiliates IV, L.P. (Named on Form D); Mercato Partners Traverse IV, L.P. (Named on Form D); Mercato Partners Savory II QP, LP (Named on Form D); Alpha Fund III, LP (Named on Form D)
- Jensen Warnock, Manager of the General Partner of the Issuer
Alpha Fund III, LP (Named on Form D)
- Ben Davis, Managing Director
Mercato Partners Traverse IIIe, L.P. (Team); Mercato Partners Traverse Affiliates IV, L.P. (Team); Mercato Partners Traverse IV, L.P. (Team); Mercato Partners Savory II QP, LP (Team)
- Joe Kaiser, Senior Investment Advisor
Mercato Partners Traverse IIIe, L.P. (Team); Mercato Partners Traverse Affiliates IV, L.P. (Team); Mercato Partners Traverse IV, L.P. (Team); Mercato Partners Savory II QP, LP (Team)
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
- HTTP://WWW.MERCATOPARTNERS.COM
- https://www.mercatopartners.com/contact
- https://www.mercatopartners.com/portfolio
- https://www.mercatopartners.com/
- https://www.mercatopartners.com/people?function=Advisors
- https://www.mercatopartners.com/people
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026