Foundry Group, an early investor in Zynga, Jiraffe, Awe.sm, Modular Robots, and many more, has today announced that it has closed another $225 million fund. The news was announced in a blog post, which founders Jason Mendelson, Brad Feld, Seth Levine and Ryan McIntyre note was the exact same one it used to announced its last fund, also for $225 million. (No use in breaking things that work, right?) This is the third fund raised by the group.
Fortune also reported the news and writes that, because there is still money left in that previous fund, Foundry won’t be drawing from the new fund probably until late this year or Q1 of next year.
The Foundry Group invests in early-stage North American-based software and IT companies, following a philosophy it outlined back in 2008, “thematic investing.”
“The themes we pursue tend to be horizontal in nature and are often driven by underlying technology protocols and standards or emerging market trends and customer needs. Rather than looking for short-term hits, we focus on themes that have the ability to drive a cycle of innovation (and hence provide multiple investment opportunities) over a period of five to ten years or more,” they write in their sort-of manifesto.
These are not exactly product categories but concepts and cover areas like Human Computer Interaction, Implicit Web, Email, Glue, and Digital Life, they noted at the time. (In other words, all interesting stuff.)
This will remain the focus of investing for the company in this newest fund.
For those who ponder questions of whether the tech world is in an investment bubble, and whether it will be popping soon, from the VC perspective at least there is still a lot of interest in funding good ideas. The Foundry Group news follows Nexus Venture Partners’ news earlier this month that it had raised $270 million; and Sequoia closing a $975 million round. Although Foundry Group is eyeing up opportunities in North America; these latter two are looking at India and further afield.