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Foundry Group raises third fund

September 14, 2012: 10:04 AM ET

Early Zynga backer snares $225 million.

FORTUNE -- Foundry Group, the Colorado-based venture capital firm best known for its early investment in Zynga (ZNGA), has closed its third fund with $225 million in capital commitments.

That's the exact same size as Foundry's first two funds, and virtually the exact same LP base. In fact, expect that Foundry's upcoming announcement on the fund close will be a literal cut-and-paste job from the prior two announcements (save for the date and fund number).

"We just happened to get the size right the first time," explains Foundry partner Jason Mendelson. The firm's other three partners are Brad Feld, Seth Levine and Ryan McIntyre.

Foundry still has dry powder remaining in its second fund – closed in October 2010 – so the new vehicle won't begin drawing capital until late this year or early Q1. The investment strategy will remain focused on early-stage IT, Internet and software companies. Recent Foundry deals include Modular Robotics, FullContact and Cloudability.

No word yet on if the firm is planning to shoot another video:

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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