Mercato Partners
Growth equityCottonwood Heights · Growth–Late Stage · 20 people tracked
Also known as MERCATO MANAGEMENT LEGACY, LLC · Mercato Management, Llc · Mercato Partners Savory · Mercato Partners Savory QP · Mercato Partners Stance · Mercato Partners Traverse · Mercato Partners Traverse Affiliates · Mercato Partners Traverse IIIe
Investment thesis
Mercato Partners is a founder-friendly growth equity firm focused on backing entrepreneurs building category-leading companies outside of traditional venture-rich technology hubs. Since 2022 it has pursued a nationwide strategy targeting undercapitalized and underrepresented geographies across the United States, believing startups should not have to be based on the coasts. The firm supports portfolio companies through a curated network of service advisors, independent board members, and corporate development leaders, aiming to be a founder's first call. It backs businesses across sectors including energy storage, digital health, fintech, and AI infrastructure.
Source: firm website, verified Aug 3, 2026.
Team · 20 people
from the firm's websiteWhat they invest in
from 17 of 50 portfolio companiesEnterprise Software ×7SaaS ×7Fintech ×4Hardware ×4AI & Machine Learning ×3Cloud Computing ×2Data & Infrastructure ×2E-commerce ×2
HQs:United States×16
Investments · 50 tracked
founders shown can be your intro pathAmerican Fork, US
Mark Gorenberg(Director)Joshua James(Executive Officer, Director, Promoter)Shane Atchison(Executive Officer)Matt Belkin(Executive Officer)Fraser Bullock(Director)Christopher Harrington(Executive Officer, Director)
Beam Benefits is a digitally-native employee benefits company offering dental, vision, life, and supplemental health insurance through an online platform with personalized rewards and AI-powered underwriting.
HealthtechHR TechInsurTechMadison, US
Alex Frommeyer(CEO)Alex CurryDan Dykes
UiPath provides enterprise automation software that uses AI agents and robots to automate business processes across departments like procurement, finance, and ERP systems.
AI & Machine LearningEnterprise SoftwareRoboticsSaaSDenver, US
Mark Geene(Founder & CEO)Jim Franklin(Director)Joseph R. Zell(Director)Jeffrey Hinck(Director)
Boise, US
LeGrand Lewis(Director)Gerard Langeler(Director)Aaron DeRose(Director)Ron Mika(Director)Val Heusinkveld(Executive Officer)George Mulhern(Executive Officer, Director)
Tungsten Automation (formerly Kofax) provides AI-enabled intelligent automation software, including document intelligence and workflow orchestration, for enterprise customers globally.
AI & Machine LearningEnterprise SoftwareSaaSLaguna Hills, US
Montgomery Kersten(Director)Ilker Kavas(Chief Financial Officer & Secretary)Donald Field(President & CEO)Peter Hantman(Chief Executive Officer)Robert Watson(Chief Financial Officer)Mike Verdeyen(Chief Technology Officer)
Financial technology company; Mercato invested in 2014.
Chicago, US
Jim Sparks(Executive Officer)Rusty Hensley(Executive Officer)Angie Franks(Executive Officer, Director)Jeremy Docken(Chief Executive Officer of Issuer)Micah Litow(Director)
BoardClint Stone(Director)
Lambda builds modular AI data centers ("AI factories") with power, liquid cooling, and high-bandwidth interconnects, and provides GPU cloud infrastructure for training and deploying AI models.
AI & Machine LearningCloud ComputingData & InfrastructureSan Francisco, US
Benhamin Nelson(Executive Officer)Austen Allred(Executive Officer, Director)Jessica Verrilli(Director)John Danner(Director)
Lendio operates an online marketplace and lending technology platform that connects small business owners with a network of 75+ lenders and funders for products such as business loans, lines of credit, revenue-based financing, and SBA loans through a single application.
FintechMarketplacesSaaS
Control4 develops a smart home and business automation platform that centralizes control of connected devices including lighting, audio, video, climate, security, and intercom systems.
Enterprise SoftwareHardwareIoTLehi, US
Eric SmithWill WestMark Morgan
Paytient is a platform that removes out-of-pocket costs as a barrier to healthcare access, allowing patients to choose care without financial burden while ensuring providers receive full payment and employers control costs.
Digital HealthEnterprise SoftwareFintechHealthtechColumbia, US
San Clemente, US
Aaron DeRose(Director)Josh James(Director)Jeff Kearl(Executive Officer, Director)Carolyn MacNaughton(Director)David Gatto(Director)Pravin Vazirani(Director)
St. Louis, US
Lori Coulter(Executive Officer, Director)Reshma Chattaram Chamberlin(Executive Officer, Director)
Western Digital manufactures data storage and memory products, including hard drives, solid-state drives, and flash memory solutions for consumers and enterprises.
Data & InfrastructureHardwareSan Jose, US
Ian Edmundson(Executive Officer)Rohit Kshetrapal(Executive Officer, Director)Vivek Mehra(Director)Dipender Saluja(Director)Aravinth Babu(Director)Paul Madera(Director)
Portfolio company based in St.
Fund performance · per public LP disclosures · 2
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Mercato Partners Growth III, L.P.LPs: Texas Municipal Retirement System | 2015 | — | 9.5% | 1.84x | 0.18x |
| Mercato Co-InvestmentLPs: San Diego City Employees' Retirement System | 2013 | — | -92.9% | 0.08x | 0.08x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Public market activity · per SEC filings
what is this? ⓘ2 insider ownership filings (Forms 3/4/5)
at MNTN, Inc. (MNTN)
From the firm's own SEC EDGAR filings — stakes and insider roles in public companies, typically portfolio companies after an IPO. Not a portfolio list published by the firm.
Frequently asked questions
- What stage does Mercato Partners invest at?
- Mercato Partners invests at the Growth, Late Stage stages.
- What sectors does Mercato Partners focus on?
- Mercato Partners focuses on AI & Machine Learning, Consumer, Enterprise Software, Fintech, Healthtech, SaaS, Sector Agnostic.
- Where is Mercato Partners located?
- Mercato Partners is headquartered in Cottonwood Heights, US.
- Does Mercato Partners lead rounds?
- Yes, Mercato Partners leads investment rounds.
Media · Podcasts & interviews
featuring the teamVenture Capital | Ryan Sanders | Managing Director | Mercato Partners
Utah Business · Ryan Sanders
#132 - Greg Warnock - Founder of Mercato Partners & One of the Top Utah VC's
The Jimmy Rex Show · Greg Warnock
Greg Warnock (Mercato Partners) at Startup Grind Salt Lake City
Startup Grind Local · Greg Warnock
Greg Warnock, Mercato Partners - Rough Cut
Diversified Insurance Group · Greg Warnock
Co-investors · 3
Cultivation Capital is a venture capital firm that invests in early-stage companies with the potential to transform how people live and work, backing them from Series Seed through Series B.
Lightbank is a Chicago-based venture capital firm that invests in early-stage technology companies and provides operational support to portfolio companies. The firm was founded by Eric Lefkofsky and Brad Keywell, entrepreneurs behind Groupon, Mediaocean, InnerWorkings, Echo Global Logistics, and Uptake.
7wire Ventures builds and invests in early-stage digital health companies focused on empowering informed, connected health consumers.
Firms observed investing alongside Mercato Partners, from public investor directories. Shared companies are the overlap with Mercato Partners's recorded portfolio.
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