Foundry Group

Foundry is an early-stage venture capital firm founded in 2007 and headquartered in Boulder, Colorado. Managing over $3 billion across its funds, the firm describes itself as network-driven, having built one of the largest communities of entrepreneurs and early-stage investors in the US. It operates with a flat partnership structure, with all partners directly involved in investing. The firm invests at the Seed and Series A stages, with check sizes typically ranging from $1 million to $15 million, and leads or co-leads rounds across the US and Canada. Rather than focusing on traditional sectors, Foundry organizes investments around long-lived horizontal themes — such as "glue" and "protocol" — that cut across industries and are driven by underlying technology trends. In addition to direct company investments, Foundry runs an active fund-of-funds strategy, investing in over 40 seed-stage venture managers across the country. Portfolio companies include Fitbit, Zynga, AvidXchange, SendGrid, Rover, SeatGeek, WHOOP, Formlabs, JumpCloud, Mapbox, and Sphero, among many others. Notable exits include acquisitions by Alphabet, Dropbox, Twitter, ADP, and Epic Games. In January 2024, Foundry announced that its $500 million Foundry 2022 fund would be its last, a decision aligned with its founding intention not to build a generational or legacy firm. The partners plan to continue supporting their existing portfolio and making new investments from the 2022 fund for at least the next decade.