found·er1 • n. a person who manufactures articles of cast metal; the owner or operator of a foundry: an iron founder.found·er2 • v. [intr.] (of a ship) fill with water and sink: six drowned when the yacht foundered off the Florida coast. ∎ fig. (of a plan or undertaking) fail or break down, typically as a result of a particular problem or setback: the talks foundered on the issue of reform. ∎ (of a hoofed animal, esp. a horse or pony) succumb to laminitis.• n. laminitis in horses, ponies, or other hoofed animals.