A Transition in Colorado Tech

Last week, Foundry Group announced that their 2022 fund would be their last. This marks a major transition in Colorado tech. While Foundry has evolved to a more nationally-focused firm over the past number of years, they deserve a tremendous amount of credit for putting Colorado, and especially Boulder, on the map as a top-tier tech hub. 

When I moved here in 2009, Foundry was the one VC fund everyone associated with Colorado tech. They dominated the local mindshare to such a degree that if you had a tech company and were looking for funding, the first question everyone asked was “what does Foundry think?”

The partners, especially Brad Feld, were highly visible, speaking at local events and building community. They also had a significant national presence and almost single-handedly introduced Boulder into the tech industry consciousness. Along with David Cohen at Techstars, they helped pioneer the “Give First” ethos that guides our ecosystem still today. 

To that end, when I was kicking around the idea in 2019 of launching my own fund, Brad was generous enough to make time and serve as a valuable sounding board, sharing his own experience of transitioning from operator to investor. Brad, Seth, Jason, Lindel, and Jaclyn have all been great thought partners to us at various times during our own journey over the last 4 years of building Range. 

They built something impressive and earned the right to go out on their terms. We take seriously our job of carrying on their legacy by continuing to build local community, support great founders, and evangelize the virtues of Colorado. Thanks to the Foundry Group for laying such a strong foundation, we look forward to taking Colorado tech to even greater heights!