Foundry Group Next, LP
Foundry Group · adviser of record: Foundry Group, LLC · 2015 vintage
Foundry Group Next, LP is a 2015 venture fund managed by Foundry Group, with $500mm raised (Form D target). It reported $610mm in gross assets at year-end 2025, 1.22x its size, against a peak of $1.21bn in 2021.
- Latest value held
- $610mm year-end 2025
- Peak
- $1.21bn year-end 2021
- Fund size
- $500mm Form D target
- Held vs. size
- 1.22x peak 2.42x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $610mm | 1.22x | -21% over 2 yrs |
| 2023 | $769mm | 1.54x | -19% |
| 2022 | $952mm | 1.90x | -21% |
| 2021 | $1.21bn | 2.42x | +52% |
| 2020 | $797mm | 1.59x | +29% |
| 2019 | $616mm | 1.23x | +1% |
| 2018 | $613mm | 1.23x | +11% |
| 2017 | $554mm | 1.11x | +9% |
| 2016 | $509mm | 1.02x | – |
| 2015 | $0k | 0.00x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| Colorado PERA | 2025-12-31 | $50mm | 0.35x | – | – |
| UTIMCO | 2025-08-31 | – | – | – | $16.4mm |
Latest report from each pension, as multiples of paid-in capital. Where a pension reports only the value it holds, that value is shown in dollars under Still held. Linked dates go to the pension’s report.
Other funds from Foundry Group
- Foundry 2022, L.P. 2022
- FG Next Flatirons I, LP 2020
- FGSF TS II SPV, LP 2019
- Foundry Group Next 2018, LP 2018
- Foundry Group Next 2018 Partner Fund, LP 2018
- FGSF Obtx II SPV, LP 2017
- FGSF TS SPV, LP 2016
- Foundry Venture Capital 2016, LP 2015
- Foundry Venture Capital 2010 Annex, LP 2015
- FGSF BBND SPV, LP 2015
- FGSF Obtx SPV, LP 2015
- FVC13 LBTS SPV, LP 2015
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-4980640566. Data updated October 13, 2026.
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