Before Adrian Fortino joined Mercury Fund, an early-stage venture firm investing in startups in the middle of the United States, he ran two Detroit-based seed funds.
One was technology-focused, targeting healthcare, transportation and industrial applications; the other was industry-agnostic, intended to help revive the economy of Southeast Michigan.
That dual experience taught Fortino that “it’s much more effective to be a thematic investor,” he says. “You drive a ton more value if you really know the sectors that you’re investing in and, equally important, know the people in the sectors. It’s impossible for you to have a deep network in every sector you invest in.”