FG Angels
FG Angels is a seed/angel focused endeavor that we announced in October 2013, with the goal of investing in 50 companies by the end of 2014. The Foundry Group (through our most recent fund) has committed $2.5m to this effort (50 companies at a $50k investment level per company). We believe this $2.5m investment in a portfolio of 50 companies will generate strong returns over time for Foundry Group and for our syndicate members.
We consider AngelList syndicates to be a profoundly important development in the seed funding ecosystem and we felt it was important for Foundry Group to be a part of it.
Since we've started investing with FG Angels through AngelList Syndicates, we've completed 56 investments, raising more than $16,6 million and creating what we believe to be a broad and compelling early stage portfolio. More than 200 people are backing our syndicate, bringing the average investment from the FG Angels Syndicate to $300K. As you know, this early money is often the most difficult money for startups to raise - we're proud of the impact FG Angels has made with your support.
For more in-depth background on our FG Angels activities to date, please refer to the following blog posts and links:
- AngelList: Do or Do Not, There Is No Try
- FG Angels FAQ
- FG Angels Update After 13 Investments
- Foundry Group Portfolio
- FG Angels syndicate page