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Foundry’s Latest Fund Comes on Heels of Several Exits

Less than a year after closing its third fund, Boulder, Colo.-based Foundry Group has raised $218 million toward another venture fund, according to a regulatory filing.

It is unclear whether the fund, Foundry Group Select Fund, will pursue the same strategy as prior ones, which have focused on early-stage Internet and software startups. Foundry partners declined to discuss additional details.

Notably, the new filing comes close on the heels of Foundry’s last fund, which closed in September. That fund, Foundry Group III, was exactly the same size—$225 million—as Foundry’s second and first funds.

To date, the four-person partnership has posted a number of high-multiple exits. Its most recent huge hit, achieved earlier this year, was MakerBot, a maker of 3D printers that announced in June that it will sell to Stratasys in a transaction then valued at up to $617 million. Foundry also was an early-stage investor in social game developer Zynga, which delivered a high return for initial backers in its December 2011 IPO, though it has struggled since as a public company.

VCJ subscribers can read more here about recent Foundry exits.

Photo: Foundry Group Managing Directors (left to right) Ryan McIntyre, Seth Levine, Jason Mendelson and Brad Feld in 2011 during the making of their video spoof “I’m a VC.” Image courtesy of Foundry Group.