“Given the lifespan of venture funds, we expect to continue this work for at least the next decade,” he wrote. “Our work continues to energize us, and we are as committed as ever to the mission of Foundry"
Weird article. The firm is not "shuttering" it's just publicly announcing that it's not planning to raise another fund.
For people who don't know, venture "firms" are a collection of funds, with different lifetimes, LPs, terms, etc. Sometimes there is one "management company" at the heart, but not always. It's a different structure than a normal corporation.
Each fund eventually reaches its EOL and follows a predefined protocol for what to do with the remaining assets.
Weird article. The firm is not "shuttering" it's just publicly announcing that it's not planning to raise another fund.
For people who don't know, venture "firms" are a collection of funds, with different lifetimes, LPs, terms, etc. Sometimes there is one "management company" at the heart, but not always. It's a different structure than a normal corporation.
Each fund eventually reaches its EOL and follows a predefined protocol for what to do with the remaining assets.