PANews, December 25 news, according to Axios from multiple sources, the venture capital firm Founders Fund, co-founded by Peter Thiel, is raising approximately $3 billion for its third growth equity fund. Founders Fund has not provided potential investors with an official target size for this new fundraise, but indicated that $3 billion would be the rough size.
Founders Fund has invested in some of the world's most valuable tech startups, including SpaceX and Stripe. Given Thiel's long-standing support for elected President Trump, and the company's various investments with Musk, it will also have opportunities to enter the upcoming White House. Founders Fund has also invested in several crypto projects, including the parent company of Pudgy Penguins, Igloo, Inc., the Bitcoin lending platform Lava, and the Bitcoin rollup project Citrea.
Founders Fund successfully raised $3.4 billion for its second growth equity fund in 2022, while also raising $1.8 billion for its eighth early-stage fund. However, at the beginning of last year, they decided to split the early-stage fund into two, as they perceived a relatively low number of investment opportunities in the market. As of now, they have not started investing in what they now call the 'ninth fund.' Additionally, although there were discussions about splitting the growth fund, it was not implemented. Currently, a significant portion of the fund's capital has been deployed, including investments in capital-intensive AI companies.