Friday, March 24, 2017

Foundry Group Puts On The LP Hat With Investment In Founder Collective

Boulder-based Foundry Group, the venture investment firm run by Brad Feld, Seth Levine, Ryan McIntyre, and Jason Mendelson, has put on its limited partner (LP) hat, and made an investment in venture capital fund Founder Collective III, the firm announced Friday morning. The investment came through its new, $50M fund, Foundry Group Next. Foundry Group had announced the new fund back in September of 2016, saying that the new fund would both invest in individual companies as well as funds. The investment as an LP is a big shift for Foundry Group, which has historically invested in just early stage startups. Foundry Group Next is being managed by Lindel Eakman, who previously was involved in managing investments for Foundry's early Limited Partner (LP), UTIMCO. Founder Collecive is based in Boston and San Francisco, and its partners are David Frankel, Eric Paley, and Micah Rosenbloom.