Foundry Group

Invests in early-stage IT, Internet, and software startups, focusing on human-computer interaction, email, and digital life with a preference for small seed ...

ActiveVenture Capital

Updated: Dec 5, 2025 ·

About

Foundry Group is a venture capital firm focused on making investments in early-stage information technology, Internet and software startups. The firm's current venture fund (its fifth fund) of $225 million was launched in July of 2015. Since its inception, Foundry Group has invested in over 100 companies as institutional investors, and over 50 companies as angel investors. The firm prefers to make small seed investments of $250,000 to $500,000 to help promising entrepreneurs across North America. Investment themes Foundry is currently pursuing include Human Computer Interaction, Implicit Web, Email, Glue, and Digital Life. Except for Foundry's late stage fund, each fund has 30 investments (+/- 2) in it. Each is $225 million. Each is roughly invested 1/3rd into companies in Colorado, 1/3rd into companies in the Bay area, and 1/3rd into companies in the rest of the U.S. (Boston, NY, Seattle, LA, Portland, Austin, Minneapolis, Washington D.C., Burlington, and Phoenix).

Financial History

Total Raised

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Valuation

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Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Nov 1, 2025	Stream	$4.0M Seed	—	01 Advisors, 2048 Ventures, 8-Bit Capital, Arthur Ventures, Byld Ventures, Felicis Ventures, Tiffany Luck, Outliers Venture Capital, Preston-Werner Ventures, Vouch Insurance, Y Combinator, Dharmesh Shah, Jeff Seibert, John Ives, Johnny Boufarhat, Wayne Chang
Nov 1, 2025	Muse Software	$5.0M Seed	—	Banana Capital, Better Tomorrow Ventures, Davidovs VC, Kepler Operator’s Fund, LAUNCH, Resolute Ventures, Roo Partners, Sarah Smith Fund, Stellar Capital, Todd and Rahul's Angel Fund, Trust Fund, Bobby Goodlatte, David J. Phillips, Diego Oppenheimer, Roger Dickey
Oct 1, 2025	Snappr	$28.0M Series B	—	Airtree Ventures, Altair Capital Management, Polychain Capital
Oct 1, 2025	EvenUp	$150.0M Series E	—	645 Ventures, Gautam Gupta, Kevin Hartz, Accel, Alt Capital, Andreessen Horowitz, Bain Capital Ventures, Bessemer Venture Partners, Bond, DCM, DTCP, Jenny Fielding, Scott Hartley, Forerunner Ventures, Greylock, High Alpha, Insight Partners, Lightspeed Venture Partners, Maverick Capital, NFX, Ribbit Capital, SignalFire, Thrive Capital, Tribe Capital, Underscore VC, Y Combinator, Aaron Levie, Allison Pickens (Allison Pickens Ventures), Frederic Kerrest, Gokul Rajaram, Howie Liu, Marc Benioff, Matt Macinnis, Mike Liu, Mike Vernal, Scott Belsky
Oct 1, 2025	Supermemory	$3.0M Seed	—	Banana Capital, Better Tomorrow Ventures, Browder Capital, Davidovs VC, Kepler Operator’s Fund, LAUNCH, Resolute Ventures, Roo Partners, Sarah Smith Fund, Stellar Capital, Todd and Rahul's Angel Fund, Trust Fund, Bobby Goodlatte, David J. Phillips, Diego Oppenheimer, Roger Dickey
Sep 1, 2025	Markup AI	$28.0M Series A	—	Costanoa Ventures, High Alpha, Touchdown Ventures
Sep 1, 2025	Gravity	$3.0M Seed	—	645 Ventures, Boost VC, Draper Associates, Flex Capital, Freestyle Capital, Lobby Capital, Recursive Ventures, Redpoint Ventures, Marco DeMeireles, Trajectory Ventures, True Ventures, Upfront Ventures, Thomas Noonan
Sep 1, 2025	Howie	$6.0M Seed	—	99VC, Banana Capital, Better Tomorrow Ventures, Davidovs VC, Kepler Operator’s Fund, LAUNCH, Resolute Ventures, Roo Partners, Sarah Smith Fund, Stellar Capital, Todd and Rahul's Angel Fund, Trust Fund, Bobby Goodlatte, David J. Phillips, Diego Oppenheimer, Roger Dickey, Siqi Chen
Jul 1, 2025	PlayerZero	$5.0M Seed	—	645 Ventures, 8VC, Abstract Ventures, Bennett Siegel, Kevin Hartz, Adverb Ventures, Alchemy Ventures, Alt Capital, Ben Taft's Genius Ventures, Citi Ventures, Craft Ventures, DFJ, DST Global, Expa, Felicis Ventures, First Round Capital, Forerunner Ventures, Foundation Capital, Fuel Capital, Green Bay Ventures, Greylock, High Alpha, Intel Capital, LGF, Liquid 2 Ventures, Maniv Mobility, Matrix, Maverick Capital, Nyca Partners, Radical Ventures, Scribble Ventures, Seven Seven Six, SignalFire, South Park Commons, SV Angel, Thayer Ventures, Thrive Capital, Toyota Ventures, Two Sigma Ventures, Uncork Capital, Underscore VC, Weekend Fund, WndrCo LLC, Y Combinator, Amjad Masad, Austin Ogilvie, Chris Bennett, Daniel Kan, Deborah Liu, DJ Patil, Drew Houston, Dylan Field, Eric Futoran, Evan Moore, Fidji Simo, Guillaume Luccisano, Guillermo Rauch, Howie Liu, Jacob Kerzner, Jason Kay, Justin Mateen, Kevin Lin, Marc Benioff, Mark Pincus, Mike Abbott, Mike Liu, Mike Vernal, Nate Matherson, Nitay Joffe, Prescott Watson, Quinn Slack, Shishir Mehrotra, Stewart Butterfield, Tobias Lutke, Yan-David Erlich
Jun 1, 2025	zeroRISC	$10.0M Seed	—	Accomplice VC, Alabaster, Amadeus Capital Partners, Fontinalis Partners, Founder Collective, Fusion Fund, Playfair Capital, Primetime Partners, Scale Asia Ventures, SOSV, Stata Venture Partners, Tiger Global Management, Jason Haider, Joi Ito, Paul Veugen, Pete Hutton, Rajeev Surati, Scott Belsky
Jun 1, 2025	Mandolin	$40.0M Series A	—	645 Ventures, CRV, Fika Ventures, Goat Capital, Greylock, High Alpha, Index Ventures, Khosla Ventures, Kleiner Perkins, Maverick Capital, Saga, Sequoia Capital, SignalFire, The Community Fund, Thrive Capital, Underscore VC, Balaji Srinivasan, Ding Zhou, Guillermo Rauch, Karim Atiyeh, Marc Benioff, Michael Stoppelman, Mike Liu, Scott Belsky, Steve King, Varsha Rao
May 1, 2025	FlexPoint	$17.0M Series A	—	Haymaker Ventures
May 1, 2025	Rover	$4.0M Seed	—	A Capital, Bankless Ventures, Gigafund, K2 Global, Menlo Ventures, Pioneer Square Labs, Plug & Play Ventures, Radical Ventures, Sound Ventures, Anil Dharni, Megan Quinn
Apr 1, 2025	Tracera	$12.0M Series A	—	Accomplice VC, Alabaster, Founder Collective, Fusion Fund, Primetime Partners, Scale Asia Ventures, SOSV, Stata Venture Partners, Tiger Global Management, Jason Haider, Joi Ito, Paul Veugen, Scott Belsky
Apr 1, 2025	Jones	$10.0M Series A	—	Better Tomorrow Ventures, Founder Collective, Headwater Ventures, Hetz Ventures, JLL Spark, NextView Ventures, Urban Innovation Fund
Feb 1, 2025	SingleFile Technologies	$9.0M Series A	—	Craft Ventures, Renegade Partners, Scheinman Angel Fund
Jan 1, 2025	Jones	$15.0M Series B	—	Better Tomorrow Ventures, Founder Collective, Hetz Ventures, JLL Spark, NextView Ventures
Jan 1, 2025	Gravity	$13.0M Series A	—	Boost VC, Draper Associates, Lobby Capital, Redpoint Ventures, TCG (The Chernin Group), Upfront Ventures, Nick Caldwell
Nov 1, 2024	AMPECO	$26.0M Series B	—	BMW i Ventures, LAUNCHub Ventures, Techstars
Oct 1, 2024	EvenUp	$140.0M Series D	—	645 Ventures, Gautam Gupta, Kevin Hartz, Accel, Alt Capital, Andreessen Horowitz, Bain Capital Ventures, Bessemer Venture Partners, Bond, DCM, DTCP, Jenny Fielding, Scott Hartley, Forerunner Ventures, Greylock, High Alpha, Insight Partners, Lightspeed Venture Partners, Maverick Capital, NFX, Ribbit Capital, SignalFire, Thrive Capital, Tribe Capital, Underscore VC, Y Combinator, Aaron Levie, Allison Pickens (Allison Pickens Ventures), Frederic Kerrest, Gokul Rajaram, Howie Liu, Marc Benioff, Matt Macinnis, Mike Liu, Mike Vernal, Scott Belsky
Oct 1, 2024	Passionfroot	$4.0M Seed	—	Acequia Capital, Acrew Capital, Creandum, Griffin Gaming Partners, IST cube, Kompas VC, Possible Ventures, Rooks Nest Ventures, Techstars, Trajectory Ventures, Zeroth, Zintinus, Stephan Wirries
Oct 1, 2024	Stream	$5.0M Seed	—	01 Advisors, 2048 Ventures, 8-Bit Capital, Arthur Ventures, Byld Ventures, Felicis Ventures, Tiffany Luck, Outliers Venture Capital, Preston-Werner Ventures, Vouch Insurance, Y Combinator, Dharmesh Shah, Jeff Seibert, John Ives, Johnny Boufarhat, Wayne Chang
Oct 1, 2024	Carbon Robotics	$70.0M Series D	—	Abstract Ventures, Alumni Ventures, BITKRAFT Ventures, Bond, Gradient Ventures, High Alpha, Ignition Partners, Pioneer Fund, SOSV, Voyager Capital, Bill Smith, Jonathan Wasserstrum, Saxon Baum
Sep 1, 2024	Ferrum Health	$16.0M Series A	—	01 Advisors, Freestyle Capital, QueensBridge Venture Partners, Sunset Ventures, The Community Fund, Steve Schlafman
Aug 1, 2024	Root Global	$9.0M Seed	—	Jenny Fielding, Felix Capital, Point Nine Capital, Presto Ventures, Project A Ventures, Mark Solon, Victor Jacobsson, Yang Zou

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Foundry Group.

Leadership Team

Key people at Foundry Group.

Deep Dive

High-Level Overview

Foundry Group is a Boulder-based venture capital firm with a mission to champion entrepreneurship and innovation by investing in early-stage technology startups and emerging venture fund managers. Their investment philosophy centers on a “give first” approach, prioritizing long-term relationships, community building, and active support for founders. Foundry Group specializes in early-stage IT, Internet, and software startups, with a particular focus on human-computer interaction, email, and digital life. They have a preference for small seed investments, helping entrepreneurs launch and scale their ideas. With over $3 billion under management and a portfolio spanning hundreds of companies and dozens of venture funds, Foundry Group has become a pivotal force in the North American startup ecosystem, fostering a network that propels innovation and collective growth.

Origin Story

Founded in 2007, Foundry Group was established by Brad Feld, Seth Levine, and other partners who sought to create a venture capital firm that was deeply embedded in the startup community. The firm began as a true early-stage investor, making seed and Series A investments in promising technology ventures. Over time, Foundry Group expanded its strategy to include early-growth rounds and launched specialized funds like Foundry Group Select and FG Next, which blend direct investments with a fund-of-funds approach. The firm’s evolution reflects a commitment to supporting entrepreneurs at every stage of their journey and to nurturing the next generation of venture fund managers. Foundry Group’s central location in Boulder, Colorado, has helped it build a robust network across North America, further amplifying its impact.

Core Differentiators

Unique Investment Model: Foundry Group combines early-stage direct investments with a fund-of-funds strategy, allowing them to support both startups and emerging venture funds.
Network Strength: The firm has cultivated a symbiotic network of founders, general partners, and limited partners, fostering a culture of reciprocity and trust.
Track Record: With more than 320 investments and over 70 exits, Foundry Group has a proven history of identifying and nurturing high-growth companies.
Operating Support: Beyond capital, Foundry Group leverages its experience, expertise, and relationships to provide hands-on support to portfolio companies, helping them navigate challenges and scale effectively.

Role in the Broader Tech Landscape

Foundry Group is riding the wave of digital transformation, investing in startups that are redefining human-computer interaction, communication, and digital life. The timing is crucial, as the demand for innovative software solutions continues to grow, driven by trends like remote work, digital collaboration, and the increasing importance of user experience. Foundry Group’s focus on early-stage investments and its commitment to community and social responsibility position it as a key influencer in the venture ecosystem. By supporting both startups and emerging fund managers, Foundry Group is helping to shape the future of technology and entrepreneurship.

Quick Take & Future Outlook

Looking ahead, Foundry Group is poised to continue its leadership in the venture capital space, leveraging its extensive network and deep expertise to identify and support the next generation of groundbreaking startups. The firm’s emphasis on long-term relationships and community building will remain a cornerstone of its strategy, ensuring that it remains a trusted partner for entrepreneurs and fund managers alike. As the tech landscape evolves, Foundry Group’s influence is likely to grow, shaping the direction of innovation and entrepreneurship in North America and beyond.

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Foundry Group combines early-stage direct investments with a fund-of-funds strategy, allowing them to support both startups and emerging venture funds.
Network Strength: The firm has cultivated a symbiotic network of founders, general partners, and limited partners, fostering a culture of reciprocity and trust.
Track Record: With more than 320 investments and over 70 exits, Foundry Group has a proven history of identifying and nurturing high-growth companies.
Operating Support: Beyond capital, Foundry Group leverages its experience, expertise, and relationships to provide hands-on support to portfolio companies, helping them navigate challenges and scale effectively.