
The Bear Roars Colorado Innovators: Seth Levine, Co-Founder and Partner at Foundry
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Sep 15, 2025 Seth Levine, co-founder and Partner at Foundry, is a key figure in Colorado's venture landscape, shaping its startup ecosystem. He discusses his journey from telecom in the 1990s to the rise of collaborative ventures post-dot-com bust. Seth highlights upcoming opportunities in defense tech, quantum research, and advanced energy, emphasizing Colorado's unique role in these areas. He also addresses the balance between local and outside capital, dives into AI's impact on GovTech and healthcare, and shares insights on the state’s ambitions as an innovation hub.
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First Foundry Deal Turned Big
- Foundry's first partner deal was a $1M ad-tech investment at a $3M post-money in 2007.
- Google later bought that startup for $500M, illustrating the timing advantage of fresh funds in downturns.
Colorado Suits Physics AI And Defense Tech
- The next decade favors ‘physics AI’ and American dynamism across defense tech, energy, quantum, and space.
- Colorado holds comparative advantages in multiple of these infrastructure-heavy domains.
Government Funding Can Be An Enabler
- Government R&D historically jump-started major tech industries and can enable frontier areas like quantum.
- Strategic, less-stringent public investment can accelerate commercialization.



