Foundry Group Drops Angel Syndicate Investment Effort

Boulder-based venture capital group Foundry Group says it will stop making new investments via its angel investment syndicate, the FG Angels Syndicate. According to a post from Foundry's Brad Feld, it decided to stop investing via the syndicate because "the effort required to maintain our investment pace on AngelList is too great for us, at least for now." The group also said, although it invested about $3.2 million via FG Angels, the total invested represents less than one fund investment that its typical investments--and even with a huge, 10x multiple, the impact on the fund's economic return would be "limited". Foundry first started making angel investments via AngelList in September of 2013.