We are excited to announce that Chris Moody is joining Foundry Group as a partner.
When we started Foundry Group in 2006, we were very clear that we were not going to build a legacy venture capital firm; one meant to outlive its founders. There would be no generational planning, no transitions to younger partners, and no senior partner hold-outs who would hang onto economics well after they had stopped working. Simply put, when we are done investing, we will drop the mic and shut off the lights.
In 2014, Seth, Jason, Ryan, and I had the first of many conversations about our long-term plans for Foundry Group. These discussions resulted in the creation of Foundry Group Next, the addition of Lindel Eakman to our team, and our first Foundry Group Next fund which we closed in 2016.
The conversation that we started in 2014 has continued on a regular basis, both formally at our quarterly off-sites but also pretty much every time the four of us were together. As part of this, we started an exercise of explicitly looking forward a decade and talking about what Foundry Group looked like from each of our perspectives at that time. With each new fund we raise, we are making at least a ten year forward commitment to each other, our investors, and the founders whose companies in which we invest. For the first seven years, this was easy, since we each had a 20-year view of Foundry Group when we started it in 2006. But as time passed, we realized we needed to start to think more deeply about the future of Foundry Group and how we evolve our investment activities.
The venture business is an inherently challenging one to scale. Leverage — of time, capacity, and capabilities — is hard to achieve. As Foundry Group raised more funds, we realized that our ability to continue to manage our business effectively was becoming limited by our individual time and capacity. Recognizing this, we started to make a list of people we would consider adding as partners, as one of our deeply held beliefs was never to have associates, venture partners, or EIRs as part of our firm.
For a while, the only name on the list was Lindel’s. It took us several years to get our mind around adding someone, but once we did, we added a few more names to the list. It probably won’t be a surprise to anyone reading this that it is a very short list.
Back to Chris Moody. Chris was most recently VP & GM of Data & Solutions at Twitter, running a multi-hundred million dollar enterprise business unit. In addition to running one of Twitter’s fastest-growing business unit, Chris was responsible for leading Twitter’s developer platform and ecosystem involving hundreds of enterprise partners and one of the world’s largest active developer communities. We’ve known Chris since 2007 and worked extremely closely with him when he was the CEO of Gnip and well as a leader in the Boulder Startup Community. Over the years, we also became very close friends with Chris.
After we had raised the first Foundry Group Next fund last September, we started having a serious conversation about having Chris join us at Foundry Group. This was driven by our reflection on our current workload, how we were adjusting what we were doing based on the addition of Lindel to the team — which had re-energized us a lot, and how we were thinking about the next ten years of Foundry Group.
In addition to working closely with Chris as a CEO (I was on the board of Gnip), we all worked with Chris through Techstars (he was one of the original mentors in the 2007 program). After Twitter acquired Gnip in 2014, Chris joined the boards of two of our portfolio companies (Pantheon and mLab) and worked closely with Ryan on these boards as an outside director.
We knew Chris was an extraordinary board member as well as an extremely seasoned CEO. We had a great affinity for each other, and he shared our value system. When the five of us sat around talking about Chris, after each conversation we got more excited about having him join us, especially as we learned about his personal view for the next decade of his life.
For those of you who don’t know Chris, I encourage you to watch this short video of Chris’ commencement address at Auburn University last spring. I think you’ll get a small glimpse of what he is about and why we’re so excited to have him as our partner.
Chris has been burning the candle at both ends for 27 years without ever taking a meaningful break. We insisted that he take the summer off to recharge his batteries and spend focused time with his awesome wife Sarah and his three delightful kids. He’ll officially join us at the end of the summer.
Originally published at Feld Thoughts.