Denver, CO
Denver Ventures says ‘far-fetched’ lawsuit ‘nothing more than a smear campaign’
David Prichard at Denver Ventures’ annual meeting in May 2025. (Courtesy Denver Ventures/Kalen Jesse)
Denver Ventures, the investing firm previously known as Denver Angels, is asking a judge to reject a lawsuit by Angels co-founder Paul Foley, calling it “far-fetched,” “untethered to the facts or the law,” and “an imaginary and elaborate conspiracy theory” designed to harm it.
“Despite its salacious accusations and egregious claims,” it says, “(Foley)’s complaint amounts to nothing more than a disgruntled minority member who is unwilling to accept his lone objection was insufficient to unwind a business deal he originally approved but now regrets.”
Foley, a Boulder-area startup founder and investor, was one of the four managers of Denver Angels between 2019 and 2022 and is still a 20% owner of that firm alongside fellow co-founders Kenneth Monfort of Monfort Cos., David Prichard and Zachary May.
In a March lawsuit, he accused his business partners of conspiring with Jackson Killion, in-house lawyer for Denver Angels, “to siphon all of the value and success of Denver Angels for their personal benefit” by moving its assets to Denver Ventures, which he does not co-own.
In a series of motions to dismiss last week, the nine defendants in the case all asked Denver District Judge Sarah Wallace to end that high-dollar lawsuit in its entirety.
“Contrary to (Foley)’s allegations, the license agreement did not siphon all value from Denver Angels or otherwise convey Denver Angels’ assets to Denver Ventures. Nor did the license agreement somehow divert funds from Denver Angels,” their motions claimed.
“The license agreement merely permitted Denver Ventures to use Denver Angels’ brand and assets to promote its new investment fund in exchange for monetary compensation.”
Paul Foley (LinkedIn)
The company took on the Denver Ventures branding around this time last year.
“Despite agreeing that a new investment fund was in Denver Angels’ best interests and being involved in that process, Foley at some later point became displeased,” Denver Ventures says.
Foley’s lawsuit, which seeks eight figures in damages, accuses the many defendants of theft, securities fraud, racketeering and more. Foley claims that the once-thriving Denver Angels is about worthless, meaning his 20% stake in the firm is, too.
“The record here is extensive, and I’m confident the documents and agreements support my claims,” Foley said in a statement to BusinessDen on Friday. “Not only did I not approve the fund and structure, but they also removed me as manager because I wouldn’t approve.
“The motions to dismiss were an anticipated litigation tactic meant to delay and distract, and I look forward to moving on to demonstrate the merits of the complaint in court.”
The individual defendants — Monfort, Prichard and May — say they cannot be sued because their entities, not themselves as individuals, own Angels and made the decisions that Foley disapproves of. Denver Ventures similarly argues that it cannot be sued because it only signed a licensing agreement with Denver Angels and there is nothing improper about that.
Foley “lumps (all) defendants … into a wild conspiracy theory alleging all defendants have attempted to steal Denver Angels’ assets and profits,” last week’s motions complain.
Denver Ventures and its owners are represented by four lawyers from Garnett Powell Maximon Barlow & Farbes in Denver: The father-son duo of Stan and Andrew Garnett, plus Nicholas Eaton and Kate Leisner. Denver Ventures’ lawyer, Killion, and his firm Caddis Consulting are represented by Derek Anderson at Winget Spadafora and Schwartzberg in Boulder.
“We look forward to the complete facts coming to light and are confident they will show that (Foley’s) claims are unfounded,” Andrew Garnett said on behalf of his clients Friday.
“We feel strongly about these motions (to dismiss) and even stronger that at the conclusion of this full legal process, defendants will be fully vindicated, and it will be shown that the defendants acted appropriately, in good faith, and consistent with their obligations,” he added.
Foley’s lawyers are Lauren Thompson and Elliot Fladen of Foster Graham Milstein & Calisher.
The Denver Nuggets are running it back with at least one free agent from last year’s team. According to Shams Charania of ESPN, the Denver Nuggets have re-signed point guard Tyus Jones.
Free agent guard Tyus Jones has agreed to a one-year deal to return to the Denver Nuggets, sources tell ESPN. Jones played a reserve role after joining Denver on the buyout market last season, and enters his 12th NBA season as his agent Kevin Bradbury of LIFT Sports Management… pic.twitter.com/OxPTfX8C7l
— Shams Charania (@ShamsCharania) July 2, 2026
Jones played 11 regular season games for Denver last year and got into 3 post-season contests as well. The Nuggets are desperately lacking in point guards who can handle the rock, especially after they decided not to pick up the fourth-year option on fellow point guard Jalen Pickett. Denver liked Jones and his ability to handle on-ball pressure better in the playoffs, and obviously feel there is utility in having him on the 15-man roster for his passing acumen and mistake avoidance despite being a target at just 6 feet tall. They did not draft a point guard, so it’s possible Jones is the first PG off the bench for the Nuggets – but in recent years they’ve relied on players like Bruce Brown to shoulder some of those duties as well even if they’re not pure point guards, so it remains to be seen just how much court time Jones is going to get.
His 5:1 assist-to-turnover ratio in his career points to his high floor in ball security though, and the Nuggets have proven time and again over the past several years that they can be truly great if they don’t have silly turnovers. Jones comes back to the Mile High looking to help the Nuggets minimize their mistakes so they can maximize their talent.
Welcome back, Tyus!
The Fourth of July weekend is one of the biggest celebrations of the summer, and Denver is delivering a packed lineup of events for every kind of adventurer. Whether you’re looking to watch fireworks light up the Colorado sky, catch a live concert at Red Rocks, enjoy rooftop parties, indulge in seasonal food and drinks or explore the city’s thriving arts and culture scene, there’s no shortage of ways to celebrate Independence Day.
Here’s your guide to the best music, food, fireworks, nightlife, arts, and cultural events happening across Denver this Fourth of July weekend.
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Read: Best Rooftops to Watch 4th of July Fireworks + Sip Cocktails in Denver
Read: The Ultimate 4th of July Outdoor Colorado Music Guide
FASHION EVENTS
Denver Fashion Week Fall 2026 Second Model Auditions
Where: TBA
Cost: $10+
The Lowdown:
Following overwhelming demand from aspiring models across Colorado, Denver Fashion Week (DFW) has announced a second round of model auditions for its upcoming Fall/Winter 2026 runway season.
MUSIC EVENTS
Read: The Ultimate 4th of July Outdoor Colorado Music Guide
Gillian Grogan and EMMA ROSE
Where: Skylark Lounge – 140 S. Broadway
Cost: $18+
The Lowdown:
Zeds Dead with Sippy, Baauer, Holly, HYDRAULIX & LUMBERJVCK
Where: Red Rocks Amphitheatre – 18300 W Alameda Pkwy, Morrison
Cost: $205+
The Lowdown:
Flobots
Where: Levitt Pavilion Denver – 1380 W Florida Ave
Cost: $0+
The Lowdown:
Don Toliver with SahBabii, SoFaygo, Chase B
Where: Ball Arena – 1000 Chopper Cir
Cost: $105+
The Lowdown:
FOOD EVENTS
Read: Best Rooftops to Watch 4th of July Fireworks + Sip Cocktails in Denver
Dumpling Love: Dim Sum Party
Where: Stir Cooking School Highlands – 3215 Zuni St.
Cost: $120 per person
The Lowdown:
Join the dumpling party and learn how to make pork bao buns, shrimp shumai, pan-fried gyoza, and crab cheese rangoons. All classes include a full bar with beer, wine, and house-curated cocktails for purchase.
Stars, Stripes, and Deck Nights
Where: Woodie Fisher Kitchen & Bar – 1999 Chestnut Pl.
Cost: Free
The Lowdown:
Celebrate America’s 250th with our festive Bomb Pop Drinks, featuring real Bomb Pops and High Noon buckets!
4th of July Rooftop Fiesta at Cimera
Where: The Source Hotel – 3330 Brighton Blvd.
Cost: $60+
The Lowdown:
The experience is an open rooftop gathering featuring live-fire cooking, craft cocktails, and skyline views throughout the evening. Guests will enjoy Peruvian street skewers, duck & chorizo paella, and ceviche prepared live on-site.
Farmers Market Central Park
Where: Central Park – 29th Ave & Roslyn
Cost: Free
The Lowdown:
Local vendors provide Colorado-grown produce, tasty baked goods, specialty meats, gourmet food items and more!
LIFESTYLE EVENTS
Mystic Magnolias; A Southern Gothic Cabaret
Where: Colorado Sake Co – 3559 Larimer St
Cost: $25+
The Lowdown:
Saunter yourself out to The Mystic Magnolias, a Burlesque AND Drag Show with chilling charm and dripping in Southern Gothic atmosphere.
America 250 | Colorado 150 Drone Show presented by Visit Denver
Where: DPAC/Denver Performing Arts Complex – 1400 Curtis St.
Cost: Free
The Lowdown:
Following Sunset Cinema’s showing of National Treasure on July 3rd at Sculpture Park, stay to enjoy the 4th of July Drone Show! This special event will be brought to you by Visit Denver, celebrating American 250 | Colorado 150, including an appearance by Mayor Mike Johnston.
Beat The Bomb Summer Mission: America250 Edition
Where: Beat The Bomb – 3863 Steele St, Unit 1273
Cost: $39+
The Lowdown:
Beat The Bomb announces the limited-time-only Summer Mission: America250 Edition – celebrating America’s 250th with five new games, a collectible beach towel, and a red, white, and blue Paint Blast!
Independence Day Concert with Denver Municipal Band (Cheesman Park)
Where: Cheesman Park – 1900 E. 11th Ave.
Cost: Free
The Lowdown:
Price:Free
Join the Denver Municipal Band’s Concert Band for an Independence Day concert at Cheesman Park Pavilion with special guest Denver District 10 City Councilmember Chris Hinds narrating Aaron Copland’s Lincoln Portrait.
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Whether you’re dancing at a concert, enjoying a garden dinner, cheering on your favorite soccer team or exploring a new exhibition, Denver offers plenty of ways to fill your 4th of July weekend calendar. Gather your friends, support local businesses, and discover something new around the city.
After an extended wait of no activity from the Denver Nuggets in this year’s free agency period, the team has finally made its first new signing.
That signing just so happens to be the No. 2 pick from the 2018 NBA Draft, Marvin Bagley III.
According to ESPN‘s Shams Charania, the Nuggets and Bagley have agreed to a one-year, veteran minimum deal for the 2026-27 season, effectively providing some solid depth in the frontcourt.
Free agent center Marvin Bagley III has agreed to a one-year deal with the Denver Nuggets, sources tell ESPN. A critical frontcourt addition for the Nuggets. pic.twitter.com/enHBVxgfYl
— Shams Charania (@ShamsCharania) July 2, 2026
With Denver’s first free agency signing now officially in the books, here’s what the move to bring in Bagley might mean for the Nuggets moving forward into free agency and this offseason, as well as entering next season.
Marvin Bagley Brings Frontcourt Depth to Denver’s Lineup
Bagley split his time between the Washington Wizards and Dallas Mavericks this past season to put together one of his better years of production in recent memory.
In the 60 combined games he played, Watson averaged 10.5 points, 6.1 rebounds, and 1.4 assists while shooting a career-high 61.8% from the field and 46.2% from three on a little less than one attempt per game.
Bagley’s a big who’s game centers more around his offensive skillset. He spent most of his time shooting last season at the rim or in the mid-range, shooting a stout 64.1% on two-pointers last season that can bring a bit of an interior presence into Denver’s frontcourt.
Defensively, he leaves a little bit more to be desired. And he’s still not quite the most impressive three-point shooter, even coming off his most efficient season from deep.
But for the cost of a veteran minimum contract, he acts as a nice budget-friendly addition who can shoulder some of the load offensively, and has shown value as an offensive rebounder as well. It’s tough to find much better for the price Denver’s paying.
While entering the league slotted in primarily as a power forward, it’s been in the past few seasons that Bagley’s settled in more as a full-time five; having spent 95% of his minutes during the 2025-26 campaign playing at the five.
That might give you a bit of a hint as to how the Nuggets plan to use him this next season, though they might also have some stretches where he’s placed alongside Nikola Jokic at the four for a bit of a larger frontcourt lineup.
The Writing’s On the Wall for Jonas Valanciunas
Looking at what Bagley’s addition might mean for the Nuggets’ current roster, no one in the picture gets more impacted by Jonas Valanciunas.
Valanciunas was Denver’s primary backup behind Jokic at the five last season following his trade from the Sacramento Kings, and entered this offseason with an uncertain future because of his contract situation.
The veteran big man has an expiring $10 million contract heading into the 2026-27 season, but one that’s not fully guaranteed, giving the Nuggets the opportunity to release him and save $8 million, while incurring a dead cap hit of $2 million that can be stretched over multiple years.
Such a move can give the Nuggets further cap flexibility that they’ll need this offseason to re-sign key pieces like Peyton Watson and Spencer Jones, which to this point haven’t been done, but becomes a bit easier now that Denver can take that next step in pivoting off of Valanciunas.
Perhaps Denver might also look deeper into a trade involving Zeke Nnaji, now that they’ve got a cheaper option in Bagley that might even sit ahead of him on the initial depth chart. However, it remains to be seen if the Nuggets have any takers on the two years remaining on his contract. To this point, they haven’t found anyone to bite.
When factoring in Valanciunas and Nnaji though, Bagley’s addition now brings the Nuggets to a total of 10 players signed onto traditional contracts for the 2026-27 season.
That leaves them with four open spots left to utilize in the days and weeks ahead. How they decide to use that space remains to be seen, but at the very least, the Nuggets’ long-awaited first offseason signing has now officially come to light.
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