Rob Heywood, from Newport, was 25 when he died earlier this summer. His mother Debbie Heywood wanted to do what she could to help his two daughters, seven-year-old Harper-Jae and four-year-old Eden.
She held a raffle for Rob's high-end headphones and Shropshire businesses also donated some of their services for other prizes.
Tickets cost £5 and dozens of people contributed. Rob's family and friends have also committed to walking up and down the Wrekin in a relay this weekend for sponsorships.
Money will be given to a trust fund for Rob's daughters, as well as Cruse Bereavement Care.
Debbie said that raising awareness of mental health issues and funding support services were also key parts of the campaign.
"Rob used to love going up and down the Wrekin with his granddad.
"He was a happy, successful, loving father and everything, and the next day he was just gone.
"We're trying to raise awareness – as someone that always looked so happy, he had a side of him that nobody knew about."
To donate to the campaign, visit bit.ly/3hggS1g.
If you have been affected by this article, you can call the Samaritans on 116123 or visit Samaritans.org.