Mobius Venture Capital

Mobius was co-founded by Heidi Roizen and Brad Feld, both of whom drove investment decisions during the firm's most active years. Roizen brought enterprise operating experience from Apple and her own software company, T/Maker, while Feld was the deeply technical investor who later co-founded Foundry Group. Neither Roizen nor Feld has publicly discussed the firm's current decision-making structure, and Mobius has not announced a formal successor or GP transition.

Mobius invested a $300,000 seed round in Co-Star, the astrology app, well before the app's viral growth among millennial and Gen Z users. The bet exemplifies the firm's willingness to back consumer software with a quasi-spiritual user experience — content this was not an obvious enterprise-software play for a firm founded by a former Apple executive. By 2021, Co-Star had 20 million downloads and a reported valuation above $200 million, validating that outlier bet (per The New York Times, 2021).

Mobius has not announced a new fund close in recent years, and its most high-profile portfolio activity has involved the maturation of existing investments rather than new capital deployment. Brad Feld's full-time transition to Foundry Group and the lack of public communication about new vehicle formation suggest the firm is in a harvest-and-distribute phase. The firm's website and public filings have not indicated new fundraising activity.

Brad Feld is the connective tissue between Mobius Venture Capital and Foundry Group. Feld co-founded Mobius in 1996 and later co-founded Foundry Group in 2007, eventually transitioning his primary investment activity to the newer firm. Foundry Group operates independently with its own fund family, while Mobius continues to manage its legacy portfolio. There is no publicly disclosed GP overlap between the two entities beyond Feld's founding role at both.

Mobius historically participated in syndicates, including with Softbank Venture Capital in the early 2000s, but did not build a co-investment vehicle or formal club structure. The firm's small partnership and seed-stage focus made it a natural co-investor alongside other boutique funds and angel syndicates. No formal co-investment program or LP-led co-investment offering has been disclosed.