More capital for Pacific Northwest startups: Founders’ Co-op raises $50M fund, its largest yet
March 1, 2021 at 10:47 am
Founders’ Co-op Managing Partner Chris DeVore (left) and General Partner Aviel Ginzburg. (Founders’ Co-op Photo)
Seattle venture capital firm Founders’ Co-op, an early backer of billion-dollar companies such as Remitly, Outreach, and Auth0, has raised a $50 million fund to help fuel another batch of Pacific Northwest startups.
It’s the firm’s fifth and largest fund to date since launching in 2008, and is double the size of the fourth fund raised in 2018.
Founders’ Co-op will continue betting on early-stage startups across Seattle, Portland, Vancouver B.C. and elsewhere. It raised a larger fund in part to write bigger checks, given increasing round sizes and the firm leading more rounds, said Chris DeVore, managing partner at Founders’ Co-op. It plans to invest in 20-to-25 companies out of the fund.
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