Close Menu
TechBrunchTechBrunch
  • Home
  • AI
  • Apps
  • Crypto
  • Security
  • Startups
  • TechCrunch
  • Venture

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Winners of the Apple Names 2025 Design Awards

June 4, 2025

Now, deals accusing customers of “spoofing” spies

June 3, 2025

Phone Chipmaker Qualcomm fixes 3 zero-days exploited by hackers

June 3, 2025
Facebook X (Twitter) Instagram
TechBrunchTechBrunch
  • Home
  • AI

    OpenAI seeks to extend human lifespans with the help of longevity startups

    January 17, 2025

    Farewell to the $200 million woolly mammoth and TikTok

    January 17, 2025

    Nord Security founder launches Nexos.ai to help enterprises move AI projects from pilot to production

    January 17, 2025

    Data proves it remains difficult for startups to raise capital, even though VCs invested $75 billion in the fourth quarter

    January 16, 2025

    Apple suspends AI notification summaries for news after generating false alerts

    January 16, 2025
  • Apps

    Winners of the Apple Names 2025 Design Awards

    June 4, 2025

    Hinge CMO Jackie Juntos wants to help Zers Gen Zers become lonely

    June 3, 2025

    Reddit allows you to hide content such as posts and comments from your user profile

    June 3, 2025

    Tiktok deploys AI-powered smart keyword filters to limit content you don't want to see

    June 3, 2025

    SNAP adds new tools to build Bitmoji games

    June 3, 2025
  • Crypto

    GameStop bought $500 million in Bitcoin

    May 28, 2025

    Vote for the session you want to watch in 2025

    May 26, 2025

    Save $900 + 90% from 2 tickets to destroy 2025 in the last 24 hours

    May 25, 2025

    Only 3 days left to save up to $900 to destroy the 2025 pass

    May 23, 2025

    Starting from up to $900 from Ticep, 90% off +1 in 2025

    May 22, 2025
  • Security

    Phone Chipmaker Qualcomm fixes 3 zero-days exploited by hackers

    June 3, 2025

    Indian grocery startup Kiranapro has been hacked and its server has been removed, CEO confirms

    June 3, 2025

    Health Giant Kettering is still facing chaos after a few weeks of ransomware attack

    June 3, 2025

    Vanta Bug has made its customer data public to other customers

    June 2, 2025

    NSO Group calls the judge for a new trial, calling $167 million in damages “outrageous”

    June 2, 2025
  • Startups

    7 days left: Founders and VCs save over $300 on all stage passes

    March 24, 2025

    AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

    March 24, 2025

    20 Hottest Open Source Startups of 2024

    March 22, 2025

    Andrill may build a weapons factory in the UK

    March 21, 2025

    Startup Weekly: Wiz bets paid off at M&A Rich Week

    March 21, 2025
  • TechCrunch

    OpenSea takes a long-term view with a focus on UX despite NFT sales remaining low

    February 8, 2024

    AI will save software companies' growth dreams

    February 8, 2024

    B2B and B2C are not about who buys, but how you sell

    February 5, 2024

    It's time for venture capital to break away from fast fashion

    February 3, 2024

    a16z's Chris Dixon believes it's time to focus on blockchain use cases rather than speculation

    February 2, 2024
  • Venture

    Now, deals accusing customers of “spoofing” spies

    June 3, 2025

    The week left to boost your brand with side events at TC on all stages

    June 3, 2025

    Learn how Toyota and NLX succeeded in the TC session: AI

    June 3, 2025

    TC Session: AI Trivia Countdown – 1 Ticket Score

    June 3, 2025

    2 days until the TC session: UC Berkeley's AI

    June 3, 2025
TechBrunchTechBrunch

Foundry Group will close and will not raise new funding

TechBrunchBy TechBrunchFebruary 13, 20244 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Telegram Email


foundry group, an 18-year-old venture firm with approximately $3.5 billion in assets under management, has quietly decided to shut down and not raise any more funds. The move was unexpected considering the company announced a $500 million fund last year.

Boulder, Colorado-based Foundry first announced on January 19 that its current fund would be its last. The venture firm has been investing since 2007 and announced a $500 million fund, according to Crunchbase. Foundry 2022 — 8th time — May 2023.

Over the years, Foundry hasCo-founder and partner Seth Levine said the firm has invested in more than 200 companies and nearly 50 venture companies. He helped Fitbit, Zynga, and AvidXchange, among others.

When TechCrunch reached out to Levine, he declined to comment on the company's decision to close, instead pointing to a blog he wrote. However, he acknowledged that an unspecified number of people have left the company, but did not say whether they were temporary layoffs or voluntary layoffs.

in one blogHe acknowledged that the company's decision to completely close was unusual.

He writes: “VC firms rarely make decisions like this, but this is exactly what we planned to do when we founded Foundry in 2006. “We had intentionally decided not to build a company that would be passed down through generations, a company that we intended to outlast the tenure of the founding partners.'' Instead, we intended to focus on our investment work and re-evaluate potential new funds depending on the cadence of fundraising…There have been several moments over the past decade where I thought the money we were raising might be our last. After much reflection and discussion each time, we decided to raise new funds. But this time it's different. Foundry 2022 will be our last fund. ”

what's next

The foundry still has 33% to 40% of its investment capital remaining, Levine said. denver business journal. Levine specifically stated this on his blog: The company plans to “continue to lead Series A and B financings” from the fund.

This move raises questions for the companies in which it invests. Foundries say they will continue to invest from their latest funds, but accepting capital from companies that are winding down is a risk for founders and could make it more difficult to secure follow-on funding.

On the other hand, Mr. Levine argued that: denver business journal He said he expects all funds to be deployed by It is expected to be completed around 2026, and the company says it will “continue to cooperate with the companies in which it invests.”

in his personal blogLevine writes:We raised our last Foundry fund at a fortuitous time when the market was cooling down (a great time to invest). Additionally, he is looking forward to new investments for about two years. Needless to say, I worked on portfolios for over 10 years after that. ”

The investor told the Denver Business Journal that it “will work with Foundry until the work is fully completed,” adding that co-founder Brad Feld and partner Chris Moody have “similar plans in place.” “I have,” he added. He could not say what the other partners “will do in the next few years.”

her own blog post Foundry partner Jaclyn Hester says she isAs we roll out the remainder of our 2022 fund over the next few years, we are focused on supporting our portfolio and leading new early-stage rounds. ”

Foundry isn't the only startup to unexpectedly shut down recently. In December, Boston-based OpenView suddenly announced that it would stop investing in new companies. Less than a year later Raised $570 million Toward the seventh fund.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

7 days left: Founders and VCs save over $300 on all stage passes

March 24, 2025

AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

March 24, 2025

20 Hottest Open Source Startups of 2024

March 22, 2025

Andrill may build a weapons factory in the UK

March 21, 2025

Startup Weekly: Wiz bets paid off at M&A Rich Week

March 21, 2025

Wayve CEO shares his key elements for scaling autonomous driving technology

March 21, 2025

Leave A Reply Cancel Reply

Top Reviews
Editors Picks

7 days left: Founders and VCs save over $300 on all stage passes

March 24, 2025

AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

March 24, 2025

20 Hottest Open Source Startups of 2024

March 22, 2025

Andrill may build a weapons factory in the UK

March 21, 2025
About Us
About Us

Welcome to Tech Brunch, your go-to destination for cutting-edge insights, news, and analysis in the fields of Artificial Intelligence (AI), Cryptocurrency, Technology, and Startups. At Tech Brunch, we are passionate about exploring the latest trends, innovations, and developments shaping the future of these dynamic industries.

Our Picks

Winners of the Apple Names 2025 Design Awards

June 4, 2025

Now, deals accusing customers of “spoofing” spies

June 3, 2025

Phone Chipmaker Qualcomm fixes 3 zero-days exploited by hackers

June 3, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

© 2025 TechBrunch. Designed by TechBrunch.
  • Home
  • About Tech Brunch
  • Advertise with Tech Brunch
  • Contact us
  • DMCA Notice
  • Privacy Policy
  • Terms of Use

Type above and press Enter to search. Press Esc to cancel.