Founders Fund reportedly closes in on $6B growth fund
Founders Fund, the venture capital firm co-founded by Peter Thiel, is nearing the close of a new $6 billion growth vehicle, according to sources cited by TechCrunch. The fund, expected to be named Founders Fund Growth IV, has drawn strong interest, with outside investor demand reportedly exceeding the targeted size. Sources also indicated that roughly $1.5 billion of the total could come from the firm’s partners.
The raise would come less than a year after the firm secured $4.6 billion for its third growth fund, which was primarily aimed at follow-on financing for existing portfolio companies. Founded more than two decades ago, Founders Fund has built a reputation for early and conviction-driven bets across major technology categories.
From fintech to defense technology
The firm’s early investments include payments company Stripe, corporate card and spend platform Ramp, and workforce management company Rippling. It was also the first institutional investor in data analytics company Palantir Technologies.
In recent years, the firm has expanded its footprint in defense technology, with stakes in SpaceX, Flock Safety, and defense startup Anduril Industries. Anduril Industries, co-founded by Trae Stephens—a partner at Founders Fund—is reportedly seeking $4 billion in new funding at a $60 billion valuation, according to recent reports.
Growing exposure to artificial intelligence
Founders Fund has also continued to build positions in leading AI companies. Last month, it participated in a major investment in Anthropic, a deal reported to value the company at $30 billion and place it at a $380 billion post-money valuation. The firm now holds stakes in two of the most prominent AI labs: Anthropic and OpenAI.
While late-stage fundraising remains robust, the firm’s early-stage fundraising has slowed since the market downturn. Its last major early-stage fund was raised in early 2022 at $1.8 billion, later reduced to $900 million amid tougher 2023 conditions, with remaining capital shifted into a separate early-stage fund launched last October, according to regulatory filings.
Related
