Foundry Group combines funds into one worth $750M

BOULDER — The Foundry Group has closed on its seventh fund, Foundry Group Next 2018.

The fund, which combines all of its prior fund strategies — including early stage, early growth and partner fund investments from previous years — is valued at $750 million.

The venture-capital firm says its strategy remains unchanged, but that it’s decided to combine all of its investing activity into one fund moving forward. Part of the decision to simplify is due to the growth in partnership — the firm has gone from four equal partners to seven. The team consists of 16 people, with its seven partners working directly with the companies the firm invests in.

“We very much look forward to continuing to work with everyone we currently work with, as well as another group of great entrepreneurs and VC fund managers in our Foundry Group Next 2018 Fund,” the company said in a prepared statement. “We are also happy to welcome a small number of new Limited Partners to our family. We are pleased to partner with such a great group of investors.”