The Bear Roars Colorado Innovators: Seth Levine, Co-Founder and Partner at Foundry
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Sep 15, 2025 Seth Levine, co-founder and Partner at Foundry, is a key figure in Colorado's venture landscape, shaping its startup ecosystem. He discusses his journey from telecom in the 1990s to the rise of collaborative ventures post-dot-com bust. Seth highlights upcoming opportunities in defense tech, quantum research, and advanced energy, emphasizing Colorado's unique role in these areas. He also addresses the balance between local and outside capital, dives into AI's impact on GovTech and healthcare, and shares insights on the state’s ambitions as an innovation hub.
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Venture Roots Stretch Back Decades
- Colorado's venture roots predate 2006 and trace back to IBM's memory plant and StorageTek spinouts.
- Early local firms like HillCarman and Colorado Venture Management seeded a durable investor base.
2006 Catalyzed A Collaborative Resurgence
- The 2001–2006 shakeout left local venture on life support until a collaborative resurgence.
- Foundry and Techstars catalyzed a new era by arriving with fresh capital and a give-first ethos.
First Foundry Deal Turned Big
- Foundry's first partner deal was a $1M ad-tech investment at a $3M post-money in 2007.
- Google later bought that startup for $500M, illustrating the timing advantage of fresh funds in downturns.
