Foundry Group Closes New, $225M Venture Capital Fund

Boulder-based Foundry Group has closed on its fifth fund, another, $225M fund on Wednesday, the firm announced today. Foundry said the investment strategy for the new fund, Foundry Venture Capital 2016, is unchanged. According to Foundry Group, the new fund follows the pattern of its preceding early stage funds, with 1/3 invested in companies in Colorado, 1/3 in companies in the Bay Area, and 1/3 into companies in the rest of the United States; Foundry says its prior funds--also $225M each-- all have around 30 investments, aside from a separate late stage fund it raised in 2013. Venture capital funds "close" their funds when they have reached a committment for capital from their limited partners (LPs). Foundry did not disclose the makeup of the new funds' limited partners.