Foundry Group Racks Up 42 Investments Through AngelList

Boulder-based venture capital investor Foundry Group says that it has now invested in a total of 42 startups through the angel investment site AngelList, after just over a year of investing through the platform. The sheer number of companies funded through the site is significant for Foundry Group, which only made nine investments through its traditional venture fund during the same time. The venture backer is taking advantage of a feature call an "investment syndicate", which allows other investors on AngelList to participate in funding deals led by Foundry Group; the venture firm said it is averaging $316,000 in investments from syndicates per deal, with the largest syndicate investment so far at $785,000.