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Hi, I’m Brad Feld, a managing director at the Foundry Group who lives in Boulder, Colorado. I invest in software and Internet companies around the US, run marathons and read a lot.

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Foundry Group Joins the Entrepreneurs Foundation of Colorado

Comments (4)

Today we announced that Foundry Group has joined the Entrepreneurs Foundation of Colorado.  We’ve contributed 1% of our carried interest (the functional equivalent of 1% of our equity) to the Community Trust Endowed Fund of the Community Foundation Serving Boulder County.

When I co-founded the Entrepreneurs Foundation of Colorado (EFCO), we explained what we were trying to accomplish in the post titled Entrepreneurs Foundation of Colorado Encourages Early Stage GivingFifteen months later, with the addition of Foundry Group, we now have 19 member companies.

To everyone that has supported and/or participated in EFCO, thank you!  If you are a founder or an employee of a Colorado-based company (or venture capital firm) that is interested in participating in EFCO, just drop me an email.

  • http://chemorocks.blogspot.com Michael Birdsong

    I have been very interested in this program since you first told me of it last August, Brad. We had a few spirited exchanges on the topic of Boulder-area high tech philanthropy over the months. :-) I even touted the EFCO in entries I've posted to various blogs in that time.

    What is the current estimated value of all funds of the EFCO?

    How much money has been / will be donated to the ” Community Trust Endowed Fund” through the 1% from Foundry Groups (ball park figures, of course)?

    Who have been the recipients of awards from either of these efforts by EFCO and Foundry Group “1% carried interest” to the ” Community Trust Endowed Fund”? (again, ball park figures, I understand)

    Thanks

    • http://www.feld.com Brad Feld

      As EFCO is a new program, there is no current estimated value. The equity only has value in a liquidity event (when a company gets acquired or goes public) so given that we are a year into the program with early stage companies, we don’t have any near term expectations. Our goal right now is to get as many companies as we can into the program, build a nice portfolio of equity, and engage the companies, their employees, and investors in local philanthropy.

      That said, I know of one company (of the 19) in the program that has the possibility of a near term liquidity event that would represent a gift in the $50,000 to $100,000 range. I know of several others that have also had M&A interest that would result in similar sized gifts.

      For historical perspective, one of our portfolio companies – Postini – that participated in this program in the Entrepreneurs Foundation in the Bay Area resulted in a $500,000 gift when they were acquired by Google last year for $625m.

      As the Foundry Group fund is brand new (we closed it last year), we don’t expect to be generating carry for several years. But when we do, we (and our investors) hope that it is substantial.

      • http://austin08.livestrong.org/michaelbirdsong Michael Birdsong

        Awesome results already, a great program, and I love the overall goals.

        Thank you for the numbers, plans and details.

  • http://www.texasstartupblog.com/2008/05/07/outsourced-philanthropy-for-startups/ Alexander Muse

    We joined the North Texas affiliate of the Entrepreneurs Foundation back in 2003. Besides providing a vehicle for financial philanthropy, Pam Gerber and her team have sought to use the organizations various talents and resources (i.e. member company's employees) to provide actual community outreach. One event Pam organizes is the annual Freedom Day where we select a worthy cause and donate our time. Last year more than 300 employees of more than 40 companies participated. Anyway, great work starting EFCO! (FYI – I am a user of intense debate, but it rarely lets me log in)

  • http://intensedebate.com/people/bfeld bfeld

    As EFCO is a new program, there is no current estimated value. The equity only has value in a liquidity event (when a company gets acquired or goes public) so given that we are a year into the program with early stage companies, we don’t have any near term expectations. Our goal right now is to get as many companies as we can into the program, build a nice portfolio of equity, and engage the companies, their employees, and investors in local philanthropy.

    That said, I know of one company (of the 19) in the program that has the possibility of a near term liquidity event that would represent a gift in the $50,000 to $100,000 range. I know of several others that have also had M&A interest that would result in similar sized gifts.

    For historical perspective, one of our portfolio companies – Postini – that participated in this program in the Entrepreneurs Foundation in the Bay Area resulted in a $500,000 gift when they were acquired by Google last year for $625m.

    As the Foundry Group fund is brand new (we closed it last year), we don’t expect to be generating carry for several years. But when we do, we (and our investors) hope that it is substantial.

  • Michael Birdsong

    I have been very interested in this program since you first told me of it last August, Brad. We had a few spirited exchanges on the topic of Boulder-area high tech philanthropy over the months. :-) I even touted the EFCO in entries I've posted to various blogs in that time.

    What is the current estimated value of all funds of the EFCO?

    How much money has been / will be donated to the " Community Trust Endowed Fund" through the 1% from Foundry Groups (ball park figures, of course)?

    Who have been the recipients of awards from either of these efforts by EFCO and Foundry Group "1% carried interest" to the " Community Trust Endowed Fund"? (again, ball park figures, I understand)

    Thanks

  • Alexander Muse

    We joined the North Texas affiliate of the Entrepreneurs Foundation back in 2003. Besides providing a vehicle for financial philanthropy, Pam Gerber and her team have sought to use the organizations various talents and resources (i.e. member company's employees) to provide actual community outreach. One event Pam organizes is the annual Freedom Day where we select a worthy cause and donate our time. Last year more than 300 employees of more than 40 companies participated. Anyway, great work starting EFCO! (FYI – I am a user of intense debate, but it rarely lets me log in)

  • Michael Birdsong

    Awesome results already, a great program, and I love the overall goals.

    Thank you for the numbers, plans and details.

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