Foundry Group Closes Another $225M Fund; Focus Breaks Mold
October 28, 2013
Foundry Group, which focuses on investing in early-stage information technology, Internet and software startups, has closed its Foundry Group Select fund at $225 million, the same size as its previous funds. However, this newest fund has a different focus. It will invest solely in the firm's "Foundry Group and previous funds' portfolio companies that have achieved significant success," according to Foundry Group's blog. Previously, the firm had been limited in the amount that it could invest due to its early-stage strategy, but with the new fund, it will now be able to invest up to $25 million in those companies' late stage growth rounds.