Foreword Fund Research
Overview
Foreword Fund is an early-stage venture capital firm led by solo GP Declan Kelly (known as "Dec"). The fund backs daring founders in their "first chapters" — typically at pre-seed or seed stage, often as the first check in. The fund's name reflects its mission: to write the foreword to a founder's story, supporting them at the very beginning of their journey.
Declan Kelly is an early Web Summit employee who built his network through years of working with founders at one of Europe's largest technology conferences. Based in San Francisco, he has cultivated a community of over 200 founders and operators who have built world-class technology companies. This community forms the backbone of Foreword's value-add model, providing portfolio companies with access to deep operational expertise and networks across multiple sectors and geographies.
Kelly's LinkedIn bio succinctly captures his approach: "Solo GP. First check. Europe & US." He has 6K+ followers and is educated at Dublin City University.
Investment Thesis
Foreword works with daring founders at their earliest stages, often first-check or first-round. The fund seeks out exceptionally focused teams with large ambitions, partnering with approximately 10 companies annually.
The fund's philosophy centers on being more than just capital. As a solo GP operation, Foreword can move quickly and make decisions without bureaucratic delays. The 200+ founder/operator community provides portfolio companies with mentorship, customer introductions, hiring help, and strategic guidance.
The fund particularly loves helping founders shape their rounds — being the first check in and helping to bring together the right syndicate of investors for each company's specific needs.
Fund Details
- Fund Size: €6M (micro-fund)
- Check Size: $100K - $250K
- Stage: Pre-seed, Seed
- Investment Pace: ~10 companies annually
- Founded: 2021
- Location: San Francisco, CA (invests globally)
- Contact: dec@foreword.vc, info@foreword.vc
- Twitter/X: @deckelly, @forewordvc
Portfolio
Foreword has invested in 43+ companies across diverse sectors including AI/ML, fintech, developer tools, enterprise software, and consumer applications. The portfolio spans both Europe and the United States.
Notable Portfolio Companies:
AI & Automation:
- Fyxer (fyxer.com) — AI-powered email and productivity tool
- Gradient Labs (gradient-labs.ai) — AI research and infrastructure
- Peec AI (peec.ai) — AI-powered analytics
- Bottlecap AI (bottlecapai.com) — AI automation platform
- Plato App (platoapp.ai) — AI-powered coaching/mentoring
- Kernel AI (kernel.ai) — AI infrastructure
- Turba (turba.ai) — AI-powered platform
- Alchemi (alchemi.bio) — AI for biology/biotech
Developer Tools & Infrastructure:
- Aikido (aikido.dev) — Security platform for developers
- Speckle (speckle.systems) — Data platform for AEC industry
- GitButler (gitbutler.com) — Git client and version control
- Anytype (anytype.io) — Decentralized knowledge management
- Evervault (evervault.com) — Data privacy infrastructure
- Trace Space (trace.space) — Space industry software
- Superlinked (superlinked.com) — Vector computing infrastructure
Fintech:
- Deblock (deblock.com) — Financial services platform
- Yuno (y.uno) — Latin American fintech
- Orus (orus.eu) — Insurance technology
- Swypex (swypex.com) — Corporate cards and spend management
- Loctax (loctax.com) — Tax technology
- Flint (withflint.com) — Financial infrastructure
Enterprise & B2B:
- Delphi (delphi.ai) — AI knowledge platform
- Kota (kota.io) — Employee benefits platform
- Complyance (complyance.com) — Compliance automation
- Jeeves (tryjeeves.com) — Global financial stack
- Isembard (isembard.com) — Infrastructure for manufacturing
- Graneet (graneet.com) — Construction management
- Rollee (getrollee.com) — Income verification
- Outverse (outverse.com) — Knowledge base platform
- Handly (handly.app) — Service business management
Consumer & Marketplace:
- Sorare (sorare.com) — Fantasy sports NFT platform (unicorn)
- Wayflyer (wayflyer.com) — E-commerce financing
- Localyze (localyze.com) — Relocation platform
- Mercaso (mercaso.com) — Marketplace
- Allo (allo.restaurant) — Restaurant technology
Hardware & Climate:
- Starcloud (starcloud.com) — Space technology
- Infinite Machine (infinitemachine.com) — Electric vehicles
- Zero (zero.inc) — Climate/sustainability
- Nodal (nodal.io) — Climate technology
- Saris (saris.ai) — AI for climate
Other Notable:
- Lette (lette.ai) — Communication platform
- Roadie (roadie.io) — Logistics and delivery (acquired by UPS)
Lead Tendency & Decision Process
Lead Tendency: Both — Foreword is comfortable leading rounds or participating alongside other investors. The fund often helps founders shape their rounds from scratch.
Decision Process: Solo GP — Declan Kelly makes all investment decisions independently, allowing for fast decisions without committee delays.
Decision Timeline: Typically 2 weeks or less, reflecting the fund's ability to move quickly when conviction is established.
Approach: First-check investor who loves helping founders shape their rounds. Takes a collaborative, community-driven approach leveraging the 200+ founder/operator network.
Founder Preferences
- Daring founders — those with large ambitions and the drive to achieve them
- Focused teams — exceptionally focused on their problem space, not scattered across multiple opportunities
- Early-stage preference — first-check or first-round situations preferred
- Global mandate — invests in exceptional talent wherever found, with focus on Europe and US
- Both B2B and Consumer — no sector dogma, focuses on the quality of the founder and opportunity
Sector Focus
- AI/ML Applications — Applied AI across sectors (strongest cluster in portfolio)
- Developer Tools — Tools that help developers build faster
- Fintech — Financial infrastructure and services
- Enterprise Software — B2B SaaS and platforms
- Climate Technology — Sustainability and clean tech
- Consumer Technology — Selective consumer plays
Geographic Focus
- Primary: Europe, United States
- Approach: Global mandate — supports exceptional talent wherever it's found
Recognition
- Featured in Sifted's "Meet Europe's growing crowd of solo GPs" (November 2022)
- Listed in Signature Block's Emerging 50, recognizing rising fund managers
- Partner fund with Seedcamp portfolio
Contact
- Email: dec@foreword.vc, info@foreword.vc
- Website: foreword.vc
- LinkedIn: linkedin.com/in/kellydeclan/
- Twitter/X: @deckelly, @forewordvc