Foundry Group raising new $500M fund

BOULDER — Local venture-capital firm Foundry Group is raising a new $500 million fund associated with its Foundry Group Next initiative announced in December.

The Boulder-based firm disclosed the new fund in a Securities and Exchange Commission filing this week. The filing indicates that no funds have been closed on yet, though Fortune magazine cited an unnamed investor in reporting that a “sizable first close” could come soon.

A Foundry Group official couldn’t immediately be reached for comment on Wednesday.

But the firm — led by managing directors Brad Feld, Jason Mendelson, Ryan McIntyre and Seth Levine — announced in December that it was bringing Lindel Eakman onboard as managing director of FG Next.

Feld wrote in a blog post then that the FG Next strategy would allow the firm to roll together multiple focuses, including continued direct investments in startups, as well as later-stage investments and investments in other venture firms and funds.

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