The phrase “frog in a blender” was in my head all afternoon. Earlier in the day, one of my partners described a situation as the cliche-ish “boil a frog slowly ” and I responded with “We’d all be better off if we just put the frog in a blender.” That generated grimaces. I couldn’t find any “Will it Blend” for frogs, but I found the next best thing – Pickled Pigs Feet. ...
We describe Foundry Group ‘s behavior as “syndication agnostic.” When we make an investment, we are completely agnostic as to whether or not we have a co-investor. This is true at early stages but also true at later stages. We make our own decisions to invest, or not to invest, independent of what other investors are thinking. As part of this philosophy, we’ll lead follow-on rounds for companies we’ve already invested in, including those making great progress where we will lead an up round that we price. We aren’t looking for outside validation from other investors of any sort – either positive or negative. Because we are syndication agnostic, we are delighted to work with great co-investors and welcome and encourage the interaction and partnership. But we don’t have any dependency on it for our decision making. ...