Foundry closes on $225M

The Foundry Group has closed its debut fund with $225 million in capital commitments.

The Boulder, Colo.-based venture capital firm was formed late last year by the Colorado team of Mobius Venture Capital, including Jason Mendelson, Brad Feld, Seth Levine, Ryan McIntyre and Chris Wand.

Mendelson told VentureWire that fund-raising went smoothly because its partners have worked together for at least seven years and have a proven record from Mobius. This year, the group has realized several exits, including the sale of email-security provider Postini Inc. to Google $625 million, and Internet-television company Sling Media Inc. has agreed to be bought by EchoStar Communications Corp. for $380 million.

Limited partners in the early stage Foundry fund include Guardian Life, Morgan Stanley, Parish Capital and University of Texas Investment Management Co. —Alastair Goldfisher