Foundry Group files paperwork for fifth $225M investment fund

BOULDER – Venture capital firm Foundry Group is raising its fifth $225 million investment fund.

The Boulder-based firm — whose portfolio includes local tech companies like SendGrid, PivotDesk and Sphero — disclosed that it is raising the money in a filing made with the Securities and Exchange Commission this week. The name of the fund is Foundry Venture Capital 2016 L.P.

A Foundry Group official declined comment Tuesday, citing SEC rules.

Foundry Group — led by managing directors Brad Feld, Seth Levine, Ryan McIntyre and Jason Mendelson — closed its fourth $225 million fund, Foundry Group Select Fund, in fall 2013. That fund marked a bit of a shift in focus for the firm, with the fund dedicated to investing only in later stage rounds of Foundry Group portfolio companies that had already been successful rather that zeroing in on early-stage startups.

Foundry Group enjoyed a major return earlier this month when portfolio company Fitbit completed a $732 million initial public offering.

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