Boulder Ventures is a Boulder, Colorado-based early-stage venture capital firm with nearly three decades of investing history, specializing in information technology and biotechnology companies across the Colorado Front Range and the Mid-Atlantic region. Founded by Kyle Lefkoff and Peter Roshko, who first partnered together in 1999 for Boulder Ventures III, the firm has raised nine consecutive funds and returned a multiple of invested capital across its history. Its two most recent funds, BV VII and BV VIII, are top decile performers for DPI in their respective vintages.
Boulder Ventures invests in high-potential information technology and biotechnology companies across four categories: software and applications, storage and communications, IT services, and life sciences. The firm operates across two geographies exclusively, the Colorado Front Range and the Mid-Atlantic, leveraging decades-long relationships with entrepreneurs and investors in those markets.
Boulder Ventures IX announced in May that it closed at $55 million on April 15, 2026, after 120 days of fundraising. 27 new investors joined 100 long-time Boulder Ventures limited partners in the 2026 vintage partnership.
Leadership
Kyle Lefkoff is General Partner and co-founder, based in Boulder, CO. Peter Roshko is General Partner and co-founder, based in Boulder, CO. Jonathan Perl is General Partner, based in the Mid-Atlantic, who joined for Boulder Ventures IV in 2002 after a run at Intersouth Partners. Kishen Mangat is General Partner, based in Boulder, CO; he was backed by Peter Roshko as a serial entrepreneur at BroadHop in 2008, which was acquired by Cisco Systems in 2013. After ten years growing Cisco's global 4G software business, Kishen joined as a General Partner in 2022 for Boulder Ventures VIII. Matthew Paul serves as Chief Financial Officer.
Investment Strategy
Boulder Ventures leads or participates in early-stage rounds in IT and biotech companies, maintaining deep geographic focus on Colorado and the Mid-Atlantic. The firm has an explicit preference for backing serial entrepreneurs and leverages a dense network of repeat relationships with founders and co-investors in both markets. Fund IX continues the firm's consistent fund cadence, which has produced nine consecutive vintage funds since the late 1990s.
Notable Investments
Active portfolio includes: Althea Technologies, Ambrosia Biosciences, Antithesis, Brief, Comeryx, DMC Biotechnologies, ng-voice, Opanga Networks, PeopleReign, PlayMetrics, RapidFort, Sovrn Holdings, Spectrum Effect, Stardog, Symmera, Synaptic Era, TerraGo, Travel Curious.
Notable Exits
Realized portfolio includes: Array BioPharma, ArcherDX, BroadHop (acquired by Cisco), Clarabridge, Cogent Communications, Dharmacon, LeftHand Networks, Lightdeck, Mineralys, miRagen Therapeutics, Rally Software, SafeRent, Wall Street on Demand, Xifin, Youreka, Zenoss, and others.
Phone: 303-444-6950
kyle@boulderventures.com
Kyle Lefkoff — General Partner & Co-Founder
Peter Roshko — General Partner & Co-Founder
Jonathan Perl — General Partner
Kishen Mangat — General Partner
United States
