Friday, April 11, 2014

Founder's Co-op Gets First Close On $25M Fund

Seattle-based Founder's Co-op, the investment fund of Andy Sack, Chris DeVore, and Rudy Gadre, is looking to raise up to $25M for a new fund, called Founder's Co-Op III, according to a regulatory filing from the investment firm. The filing says that so far, the fund has raised $10M from limited partners in the fund. Source of the funding was not disclosed, however, the filing indicates that there are currently 46 investors in the fund. Founder's Co-op has invested in such companies as Appature (acquired by IMS Health), AppFog (acquired by CenturyLink), Clipboard (acquired by Salesforce), Cooler Planet (acquired by PURE Energies), Frame (acquired by Sailthru), oneForty (acquired by Hubspot), Sparkbuy (Google), SPARQ.me (Yahoo), and Thinkfuse (Salesforce).