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Early Solana backer Foundation Capital raises $600 million for 11th fund

Foundation Capital, a Silicon Valley venture firm and an early investor in Solana Labs, has raised $600 million for its 11th fund, continuing its focus on startups at the earliest stages.

The 30-year-old firm, which invests in crypto, fintech and artificial intelligence, among other sectors, said the new fund will continue its tradition of supporting founders "at day zero" before a product is built or revenue is generated.

Foundation Capital said 80% of its investments happen before a company has generated a single dollar of revenue. "We look for what we call 'zero-billion-dollar markets' — opportunities that don't appear in industry forecasts because they're only visible to those who see beyond what exists today," the firm said.

Early Solana backer Foundation Capital raises $600 million for 11th fund

Foundation Capital, a Silicon Valley venture firm and an early investor in Solana Labs, has raised $600 million for its 11th fund, continuing its focus on startups at the earliest stages.

The 30-year-old firm, which invests in crypto, fintech and artificial intelligence, among other sectors, said the new fund will continue its tradition of supporting founders "at day zero" before a product is built or revenue is generated.

Foundation Capital said 80% of its investments happen before a company has generated a single dollar of revenue. "We look for what we call 'zero-billion-dollar markets' — opportunities that don't appear in industry forecasts because they're only visible to those who see beyond what exists today," the firm said.

https://www.theblock.co/post/344676/solana-backer-foundation-capital-new-fund