Venture capital in Colorado
46 venture firms are based in Colorado, from SEC filings and the fund index. Below them are Colorado’s other sources of capital, the LPs based here that report holding venture funds, and its SEC-registered family offices. How Colorado ranks for startup raises and new funds: its Venture Ecosystem Index page.
On this page: 46 venture firms 5 new funds 28 other sources of capital 43 LPs 6 family offices.
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Venture firms based in Colorado
7 firms in the Venture Capital Fund Index, by latest fund, then 39 advisers that report a venture fund on Form ADV, largest estimated venture assets first, from the Venture Adviser Directory. Each one’s page has its funds and, where an LP reports holding them, its LPs.
| # | Firm | Headquarters | Latest fund | Fund size | AUM |
|---|---|---|---|---|---|
| 1 | Foundry GroupFoundry | Boulder | Foundry 2022 | $503M | — |
| 2 | Boulder Ventures | Boulder | Boulder Ventures VIII | $58M | — |
| 3 | Matchstick Ventures | Boulder | Matchstick Ventures Fund III | $55M | — |
| 4 | Range Ventures | Denver | Range Ventures Fund II | $39M | — |
| 5 | FirstMile VenturesPV Ventures | Colorado Springs | FirstMile Ventures Fund III | $25M | — |
| 6 | Denver Ventures | Denver | Denver Ventures Seed Fund I | $20M | — |
| 7 | Bufficorn Ventures | Denver | — | — |
| # | Adviser | Location | Venture funds | Private fund assets | Registered |
|---|---|---|---|---|---|
| 1 | Caffeinated Capital Management, LLC | Aspen | 52 | $3.9B | 2014 |
| 2 | Altira Group LLC | Denver | 6 | $688M | 2012 |
| 3 | Bow River CapitalBow River Asset Management, LLC | Denver | 9 | $3.6B | 2011 |
| 4 | KonvoyKonvoy Capital LLC | Denver | 7 | $338M | 2022 |
| 5 | BCM Advisor, LLC | Denver | 1 | $253M | 2018 |
| 6 | Boulder Food Group, LLC Emerging | Boulder | 3 | $243M | 2014 |
| 7 | Volo Earth Ventures Management, LLC Emerging | Snowmass Village | 9 | $238M | 2021 |
| 8 | Kingfisher Investment Advisors, LLC Emerging | Niwot | 6 | $223M | 2023 |
| 9 | Newvale Capital LLC Emerging | Boulder | 5 | $208M | 2024 |
| 10 | Varana Capital, LLC Emerging | Denver | 3 | $185M | 2022 |
| 11 | Moxxie Management, LLC Emerging | Boulder | 4 | $181M | 2021 |
| 12 | Access Venture Partners EmergingAccess Management Company, Inc. | Westminster | 4 | $160M | 2017 |
| 13 | Gatemore EmergingGatemore Capital Management LP | Aspen | 8 | $239M | 2024 |
| 14 | Helios Climate Ventures, LLC Emerging | Denver | 38 | $139M | 2024 |
| 15 | Blackhorn Ventures Management II, LLC Emerging | Denver | 3 | $133M | 2023 |
| 16 | Blackhorn Ventures Management, LLC Emerging | Denver | 11 | $131M | 2020 |
| 17 | Spruceview Capital Partners LLC | Denver | 1 | $1.8B | 2014 |
| 18 | Cu Healthcare Innovation Management, LLC Emerging | Aurora | 2 | $101M | 2020 |
| 19 | Asset Management Group Investment Corp. Emerging | Greenwood Village | 10 | $151M | 2013 |
| 20 | Unless Management LP Emerging | Boulder | 1 | $247M | 2026 |
| 21 | Markd VC LLC Emerging | Boulder | 1 | $81M | 2022 |
| 22 | Loft Growth Partners Emerging2x CPGP Management Company LLC | Boulder | 8 | $67M | 2018 |
| 23 | Trailhead Capital EmergingTrailhead Capital Management LLC | Denver | 2 | $55M | 2024 |
| 24 | Stormbreaker Venture Group, Inc. Emerging | Arvada | 4 | $55M | 2024 |
| 25 | Denver Angels EmergingDenver Angels Management, LLC | Denver | 57 | $54M | 2019 |
| 26 | Unifi Ventures, LLC Emerging | Louisville | 10 | $61M | 2025 |
| 27 | Equitage Ventures, L.L.C. Emerging | Denver | 1 | $46M | 2024 |
| 28 | Moxxie Ventures Management, LLC Emerging | Boulder | 2 | $40M | 2020 |
| 29 | Key Investment Partners LLC Emerging | Denver | 14 | $40M | 2019 |
| 30 | Service Provider Capital EmergingService Provider Capital, LLC | Vail | 25 | $39M | 2014 |
| 31 | Bigr Ventures GP LLC Emerging | Boulder | 2 | $39M | 2023 |
| 32 | 3lines, LLC Emerging | Greenwood Village | 11 | $38M | 2022 |
| 33 | Colorado Impact GP LLC Emerging | Denver | 2 | $34M | 2020 |
| 34 | Vault Fund LP Emerging | Boulder | 2 | $30M | 2026 |
| 35 | Rockies Venture Adviser, LLC EmergingRockies Venture Adviser, LLC. | Denver | 47 | $27M | 2017 |
| 36 | Meritage Holdings II, LLC Emerging | Glendale | 7 | $24M | 2024 |
| 37 | Insightquant-Ai Technologies Inc Emerging | Denver | 1 | $1M | 2025 |
| 38 | Jsi Manager LLC Emerging | Timnath | 1 | $517K | 2025 |
| 39 | Sweater Industries LLC Emerging | Boulder | 1 | $236K | 2022 |
New funds raising from Colorado
5 venture funds managed from Colorado started raising in 2025 or later and filed a Form D since October 2025: managers with new money to invest. Amounts are as each fund’s latest Form D reports them, newest filing first.
| Fund | Manager | Started | Raised so far | Target | Latest filing |
|---|---|---|---|---|---|
| Blackhorn Ventures Industrial Impact Fund III, LP | Blackhorn Ventures Management, LLC | 2026 | — | $150M | March 30, 2026 |
| Caffeinated Capital Seed Fund VI, LP | Caffeinated Capital Management, LLC | 2026 | $205M | $250M | February 4, 2026 |
| Caffeinated Capital Growth Fund I, LP | Caffeinated Capital Management, LLC | 2026 | $82M | $500M | February 4, 2026 |
| Vault Fund II LP | Vault Fund LP | 2025 | — | $50M | October 3, 2025 |
| Service Provider Capital Pacific Northwest Fund I, LP | Service Provider Capital | 2025 | — | $5M | October 1, 2025 |
Other sources of capital in Colorado
13 community development lenders, 5 SBA lenders, 3 placement agents, 1 angel group, 1 revenue-based financing, 1 university venture fund, 1 corporate pension plan, 1 SBIC, 1 union pension plan, and 1 pension master trust. From public registers and what each organization publishes; see Capital Sources for every state.
| Source | Location | On the record |
|---|---|---|
| Rockies Venture Club | Denver | Colorado angel investing network backing seed to Series A companies in technology, cleantech and life sciences, with nationwide syndication. |
| Bigfoot Capital | CO | Provides non-dilutive loan facilities of $1M to $5M to established B2B software businesses. |
| Hamilton Miller Investments, LLC | Centennial | 5 venture funds, 2013–2018 |
| LOHI Securities | Denver | 1 venture fund since 2021 |
| Weild & Co. | Boulder | 2 venture funds since 2021 |
| Buff Gold Ventures | Boulder | Venture fund that invests in University of Colorado founders and in startups licensing the university's intellectual property. |
| Employees' and Agents' Pension Benefits Plan Empower Holdings, LLC. | Greenwood Village | In partnerships and joint ventures: $26M |
| ONE Bow River National Defense Fund, LP | Colorado Springs | Growth Equity |
| Rocky Mountain UFCW Unions and Employers Retail and Meat Pension Plan | Arvada | In partnerships and joint ventures: $182M |
| Ball Corporation Master Pension Trust | Westminster | In partnerships and joint ventures: $54M |
| B:Side Fund | Denver | Community development loan fund in Denver, CO, certified by the US Treasury’s CDFI Fund. |
| Colorado Enterprise Fund, Inc. | Denver | Community development loan fund in Denver, CO, certified by the US Treasury’s CDFI Fund. |
| Community Enterprise Development Services | Aurora | Community development loan fund in Aurora, CO, certified by the US Treasury’s CDFI Fund. |
| Energize Colorado Inc. | Boulder | Community development loan fund in Boulder, CO, certified by the US Treasury’s CDFI Fund. |
| First Southwest Bank | Durango | Community development bank or thrift in Durango, CO, certified by the US Treasury’s CDFI Fund. |
| Greenline Community Development Fund, LLC | Denver | Community development loan fund in Denver, CO, certified by the US Treasury’s CDFI Fund. |
| HomesFund | Durango | Community development loan fund in Durango, CO, certified by the US Treasury’s CDFI Fund. |
| Impact Development Fund | Loveland | Community development loan fund in Loveland, CO, certified by the US Treasury’s CDFI Fund. |
| Mercy Community Capital | Denver | Community development loan fund in Denver, CO, certified by the US Treasury’s CDFI Fund. |
| Native American Bank, N.A. | Denver | Native community development bank or thrift in Denver, CO, certified by the US Treasury’s CDFI Fund. |
| Oweesta Corporation | Longmont | Native community development loan fund in Longmont, CO, certified by the US Treasury’s CDFI Fund. |
| Rocky Mountain MicroFinance Institute | Denver | Community development loan fund in Denver, CO, certified by the US Treasury’s CDFI Fund. |
| Triple Bottom Line Foundation | Lakewood | Community development loan fund in Lakewood, CO, certified by the US Treasury’s CDFI Fund. |
| 5Star Bank | Colorado Springs | 7(a) loans approved, fiscal year 2026: $5.1M |
| Community Banks of Colorado, A Division of NBH Bank | Greenwood Village | 7(a) loans approved, fiscal year 2026: $28M |
| FMS Bank | Fort Morgan | 7(a) loans approved, fiscal year 2026: $14M |
| Fortis Bank | Denver | 7(a) loans approved, fiscal year 2026: $25M |
| Integrity Bank & Trust | Monument | 7(a) loans approved, fiscal year 2026: $7.7M |
LPs based in Colorado
Foundations, pension plans, and other LPs here that report the venture funds they hold, by the number they hold. Local LPs often back local managers.
Family offices in Colorado
Family offices registered with the SEC as investment advisers, from the Family Office Index. Most family offices are exempt from registering and aren’t on this list.
| Family office | City | Regulatory assets |
|---|---|---|
| JFG Family Office | Denver | $4.5B |
| Cherry Creek Family Offices | Denver | $2B |
| Class VI Family Office, LLC | Denver | $1.5B |
| Alpha Capital Family Office, LLC | Greenwood Village | $296M |
| Exceptional Wealth & Family Office | Colorado Springs | $292M |
| Pulliam Family Office, LLC | Crested Butte | $142M |
About the data
An adviser’s state is where its Form ADV says its main office is. A fund-index firm is placed by the headquarters city the index lists, or by its Form ADV when the city doesn’t tell. Capital sources, LPs, and family offices are placed by the address their own register gives. Angel investors who list themselves are at hottub.vc/investors. Organizations only: no individuals are listed here, and a listing is a public record, not a recommendation. See the methodology.