Foundry Group closes new $225 million venture fund

BOULDER — Local venture-capital firm Foundry Group announced this week that it has closed its fifth $225 million investment fund, Foundry Venture Capital 2016 LP.

BizWest had reported last month that the firm had filed paperwork with the Securities and Exchange Commission disclosing that it was raising the funds.

An official for Boulder-based Foundry Group — led by managing directors Brad Feld, Seth Levine, Ryan McIntire and Jason Mendelson — couldn’t be reached Friday. But in a blog post on the company’s website, the firm noted that the fund would be used to invest in seed and early-stage startups, a return to the focus of Foundry’s earlier funds.

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When the firm announced its fourth fund in 2013, company officials noted then that the fund would be used to invest solely in the later-stage growth rounds of the firm’s successful portfolio companies.