May 3, 2001 USA: Foundation Capital Closes on $595 MLN Fund NEW YORK, May 3 (Reuters) - Foundation Capital, a Menlo Park, California-based venture capital fund, said it just closed on a new $595 million fund to invest in telecoms and networking companies. Called Foundation Capital Fund IV, the fund has signed up partners including Harvard, Yale and the University of Texas endowment funds, it said.