Mercury states $5M FDIC coverage through sweep and 2,500+ VC fund customers
Mercury's VC funds page, read October 28, 2026, states 2,500+ VC funds banking on the platform and up to $5M in FDIC insurance through partner bank sweep networks.
Mercury's VC funds page, read October 28, 2026, states 2,500+ VC funds banking on the platform, with separate accounts available for the fund, SPVs and the management company. The pricing page confirms $0 monthly fees on the base plan, $0 domestic wires and ACH, and up to $5M in FDIC insurance through sweep networks at partner banks Choice Financial Group and Column N.A. Mercury Treasury offers up to 4.09% yield on balances above $250,000. Mercury is a fintech company, not an FDIC-insured bank; deposits are held at the partner banks. The $5M sweep figure is 20 times the standard $250,000 FDIC limit per depositor per bank, which matters for a fund holding a full capital call in the account between the notice date and the investment wire.
Sources
- Mercury VC funds pagemercury.com/vc-funds
- Mercury pricingmercury.com/pricing
Terms used in this article
- Capital call A capital call, also called a drawdown, is a notice from the general partner requiring each limited partner to wire a portion of their committed capital to the fund by a due date, usually ten business days, to fund investments, fees or expenses.
- Subscription line (capital call facility) A subscription line is a revolving credit facility, secured on the limited partners' uncalled commitments and the general partner's right to call them, that a fund draws to pay for investments and expenses before calling capital from LPs and repays from the later capital call.
- Management fee The management fee is an annual charge paid by the fund to the management company, typically 2% of committed capital during the investment period, often stepping down afterwards to a lower rate or a basis of invested capital, to cover salaries, rent and the cost of running the firm.