VC firm
Prelude Ventures
Also known as Mercato Partners Growth, Mercato Partners Growth Affiliates, Mercato Partners Growth Affiliates II, L.P., Mercato Partners Growth II, L.P., Mercato Partners Growth III, L.P., Mercato Partners Savory II QP, Mercato Partners Savory II QP, LP, Mercato Partners Traverse
- Investor type
- VC
- Investing status
- Activeas of 2026-09-18Source (opens in a new tab)
- Headquarters
- London, UT, United Kingdom
- Assets under management
- $3.9MForm ADV private fund GAV, as of 2026-04-21Source (opens in a new tab)
- Funds
- 17
- Check size
- with $500k - $2m checks.Source (opens in a new tab)
- Legal name
- MERCATO MANAGEMENT, LLC
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Record updated 30 September 2026
About
Prelude is a first-check venture fund based in London.
Investment approach
- Thesis
- Nothing is too early. We back teams with just an idea. We lead or co-lead rounds with $500k - $2m checks. Our approach is to build high conviction and go all-in when others won't. Each fund invests in ~30 companies. We work closely with teams from the start and throughout their journey. Entrepreneurship is global and so is our investing approach. We invest in equity and tokens, across different verticals and business models.Source (opens in a new tab)
- Leads rounds
- Yes
- Lead policy
- We lead or co-lead rounds
- Investing status notes
- Prelude is a first-check venture fund based in London.
Funds
- Prelude II GmbH & Co. KG
- Vintage 2025Main fund
- Prelude Fund III, L.P.
- $20.6MVintage 2023, Main fund, SEC amount sold
- Prelude Phin Security Coinvest, LLC
- Vintage 2023Main fund
- Mercato Partners Traverse Affiliates IV, L.P.
- Vintage 2022Main fund
- Mercato Partners Traverse IV, L.P.
- Vintage 2021Main fund
- Mercato Partners Savory II QP, LP
- Vintage 2021Main fund
- Prelude Fund II Coinvest I, LLC
- $2MVintage 2020, Main fund, SEC amount sold
- Prelude Fund II, L.P.
- Vintage 2020Main fund
- Mercato Partners Growth III, L.P.
- $136MVintage 2015, Main fund, SEC amount sold
- Mercato Partners Growth Affiliates II, L.P.
- Vintage 2012Main fund
- Mercato Partners Growth II, L.P.
- $115MVintage 2011, Main fund, SEC amount sold
- MERCATO PARTNERS TRAVERSE IV QP, L.P.
- Main fund
- More funds
- 5 more recorded
SEC registration
- Registered adviser
- MERCATO MANAGEMENT, LLC
- CRD number
- 163142 (opens in a new tab)
- SEC file number
- 802-129324
- Registration
- Exempt reporting adviser
- Regulatory AUM
- $3.9Mas of 2026-04-21
- Private funds reported
- 3
- Principal office
- SALT LAKE CITY, UT, United States
- SEC CIK
- 1530817, 1554148, 1631695
Locations
- Headquarters
- London, United Kingdom
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