Advent Venture Partners has bought out the management of The Foundry, backing CEO Bill Collis and the original founders in a deal that sees the sale of the shareholdings of previous investors Wyndcrest Holdings.
The Foundry, which makes such popular VFX software packages as Nuke and Furnace, has seen its revenues more than double in the past 18 months to $10 million.
The support from Advent will enable the Foundry to continue an expansion that has seen it more than double its staffing levels from 20 to 50 over the past two years.
‘With the backing of our previous investors, we enjoyed substantial growth and are now in a strong position to take the business forward with our new partners,’ says Bill Collis, CEO of The Foundry. ‘We are ready to realize our further ambitions for Nuke and the rest of our product portfolio, ensuring the company goes from strength to strength whilst maintaining strong customer focus.’
