From Mobius Venture Capital ashes, arises Foundry Group with $160M-plus fund
A new venture firm has emerged from ashes of Mobius Venture Capital, a well-known venture firm in Silicon Valley which struggled after it failed to perform after the Internet bubble burst.
A group led by Brad Feld, who was in the Colorado office of Mobius, and who has written a popular blog for the last several years, had formed a new firm called Foundry Group.
PE Wire reports it has raised $158.75 million from limited partners like Guardian Life, Morgan Stanley, Parish Capital and UTIMCO. It had originally been targeting $175 million, but wants to raise a total of $225 million by next month.
Besides Feld, other partners include Seth Levine, Ryan McIntyre, Jason Mendelson and Chris Wand.
Next Story: Zink offers inkless printing, raises $25M
Previous Story: Life sciences briefing: Thursday, Sept. 20, 2007
About the Author, Matt Marshall
Matt Marshall is editor and CEO of VentureBeat. Follow him on Twitter at @mmarshall, and follow VentureBeat on Twitter at @venturebeat.