Foundry Group raises $225M to invest in early technology companies

November 19, 2007 | Matt Marshall

Foundry Group, a Colorado venture capital firm started by some partners from Mobius Venture Capital, has finished raising its first fund at $225 million.

The firm initially set a $175 million target, but received more interest from limited partners, partner Jason Mendelson told VentureWire.

We reported in September that the firm had raised $160 million

Foundry’s investors include Guardian Life Insurance Co., Morgan Stanley, Parish Capital Advisors, Procific and University of Texas Investment Management Co.
The partners include Brad Feld, Seth Levine, Ryan McIntyre and Chris Wand. The launched Foundry after their previous firm, didn’t perform very well, and partners of that fund decided not to raise any more money. However, now the new group, a subset of the former Mobius partners, is now focused from Colorado.

Recent results have helped. Email security company Postini, one of their investments, was sold to Google for $625 million, and Sling Media was sold to EchoStar for $380 million.

Next Story: Fortisphere, raises $10M for virtualization software
Previous Story: Life sciences briefing: Monday, Nov. 19, 2007

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.