Foundation Capital, now 24 years old, just closed its ninth fund with $350 million in capital commitments
Not all venture firms are long for this world. Though they tend to shut down exceedingly quietly, it sometimes happens when the returns just aren’t compelling or a firm grows too fast or there’s infighting or there’s not a solid succession plan.
Foundation Capital, founded in 1995, had its own kind of reckoning in the aftermath of the 2008 financial crisis owing to a little bit of all of these things.
Like a lot of firms that had begun to raise ever-bigge...