Foundry

Investment thesis

Thematic early-stage investor organized around horizontal themes like "glue" and "protocol" rather than sectors. Flat partnership, radical transparency. Now deploying final fund with no plans to raise again.

Focus narrative

Foundry organizes investments around long-lived horizontal themes (e.g., "glue," "protocol") rather than traditional sectors. They lead Seed and Series A rounds with a concentrated, high-conviction approach. The flat partnership structure means all 6 partners do the work themselves. The fund-of-funds arm invests in 40+ seed-stage venture managers. Note: Foundry announced in January 2024 that their current fund is their final fund.

Value beyond capital

Foundry provides a unique network of 75+ portfolio companies and 40+ partner funds creating a trusted community of founders, CEOs, and fund managers. The firm's Boulder base helped catalyze a model startup community and co-founded Techstars. Radical transparency and flat partnership mean founders work directly with partners.

Community overview

Foundry is a venture capital firm founded in 2007 and based in San Francisco, California. The firm manages over $3 billion for its limited partners and has invested in hundreds of companies and dozens of venture funds. Foundry aims to create a network that supports entrepreneurship and innovation through collaboration among partners, founders, teams, and limited partners.

Community focus

Foundry invests in startups and venture funds, emphasizing a network-driven approach that fosters innovation. The firm operates with a 'give first' philosophy, aiming to build a community based on reciprocity and trust. It partners with other funds to enhance access to resources and thought leadership, thereby maximizing collective impact.