Jump to content

Founders Fund

From Wikipedia, the free encyclopedia

Founders Fund
Company typeVenture fund
IndustryVenture capital
FoundedJuly 2005
FounderPeter Thiel Edit this on Wikidata
Headquarters
Letterman Digital Arts Center
San Francisco, California, U.S.
Key people
Peter Thiel
Ken Howery
Luke Nosek
Brian Singerman
Cyan Banister
Lauren Gross
Scott Nolan
AUMUS$12 billion (2023)
Websitewww.foundersfund.com

Founders Fund is an American venture capital fund formed in 2005 and based in San Francisco. The fund has roughly $12 billion in total assets under management as of 2023.[1] Founders Fund was the first institutional investor in Space Exploration Technologies (SpaceX) and Palantir Technologies, and an early investor in Facebook.[2][3][4] The firm's partners have been founders, early employees and investors at companies including PayPal, Palantir Technologies, Anduril Industries and SpaceX.[5]

History

[edit]
Peter Thiel

The firm was organized by Peter Thiel, Ken Howery, and Luke Nosek in early 2005 and raised its first fund of $50 million from individual entrepreneurs and angel investors in January of that year.[6] Sean Parker, co-founder of Napster and ex-president of Facebook, joined in 2006.[6] In 2007, the firm raised a new fund of $220 million.[7]

In 2010, the firm raised its third fund, with $250 million in committed capital,[8] and in 2011, a fourth fund with $625 million of committed capital was raised.[9][10]

In 2014, Founders Fund raised a $1 billion fifth suite of funds, bringing the firm's aggregate capital under management to more than $2 billion.[11]

In 2016, Founders Fund raised a sixth, $1.3 billion fund, bringing the firm's aggregate capital under management to more than $3 billion.[12]

In 2020, Founders Fund raised a seventh flagship fund and its first growth fund, representing $3 billion in new capital and bringing the firm's aggregate capital under management to more than $6 billion.[13]

In 2022, Founders Fund raised an eighth flagship fund and its second growth fund, representing over $5 billion in new capital and bringing the firm's aggregate capital under management to more than $11 billion.[14]

In 2023, Founders Fund advised companies to withdraw money from Silicon Valley Bank upon announcement of their attempt to raise capital, helping to spur a bank run on the bank and inducing the FDIC to take over.[15]

In March 2023, Founders Fund cut the size of its eighth venture capital fund in half, from around $1.8 billion to around $900 million, to adapt to uncertain market conditions.[16][better source needed]

Partners

[edit]

As of winter 2023, the firm had thirteen Partners:

  • Lauren Gross[14]
  • Scott Nolan[18]
  • Trae Stephens
  • Napoleon Ta[14]
  • Matias Van Thienen[14]
  • Sam Blond
  • Joey Krug
  • Delian Asparouhov
  • Jennifer Campbell
  • Ryan Petersen

Former partners include:

Investments

[edit]

Founders Fund is a generalist firm investing in companies across all sectors, stages and geographies.[citation needed]

The firm's investments include Airbnb, Anduril, Armada,[24] DeepMind, Lyft, Facebook, Flexport, Palantir Technologies, SpaceX, Spotify, Stripe, Wish, Neuralink, Nubank, and Twilio.[25]

References

[edit]
  1. ^ Loizos, Connie (March 5, 2022). "A look inside Founders Fund, as it closes on $5 billion across two new funds". TechCrunch. Archived from the original on March 29, 2025. Retrieved August 2, 2023.
  2. ^ "Thiel's Founders Fund sells remaining Facebook shares". Reuters. August 27, 2019. Archived from the original on August 2, 2023. Retrieved August 2, 2023.
  3. ^ Ha, Anthony (August 6, 2008). "Private rocket company SpaceX gets $20M from The Founders Fund". VentureBeat. Archived from the original on February 24, 2025. Retrieved August 2, 2023.
  4. ^ Griffith, Erin (July 6, 2020). "Palantir Technologies Files to Go Public". The New York Times. ISSN 1553-8095. OCLC 1645522. Archived from the original on March 27, 2025. Retrieved August 2, 2023.
  5. ^ Brehse, Tami; Kirschner, Kylie; Yip, Jaures; Jackson, Sarah (December 7, 2024). "The PayPal Mafia includes tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here's where its members are now". Business Insider. Archived from the original on March 14, 2025. Retrieved August 12, 2020.
  6. ^ a b Guynn, Jessica (December 13, 2006). "The Founders Fund emerges as venture capital 2.0 / How entrepreneurs get money, and time, for startups is changing". SFGate. Archived from the original on January 14, 2025. Retrieved January 20, 2007.
  7. ^ Guynn, Jessica (December 18, 2007). "Facebook backer now a rival to venture capitalists". Los Angeles Times. ISSN 2165-1736. OCLC 3638237. Archived from the original on February 5, 2008. Retrieved November 23, 2007.
  8. ^ Hoge, Patrick (July 19, 2010). "Founders Fund raises $250M vehicle". San Francisco Business Times. American City Business Journals. Archived from the original on July 23, 2010. Retrieved August 27, 2013.
  9. ^ Rusli, Evelyn M. (December 1, 2011). "Peter Thiel's Founders Fund Raises $625 Million". The New York Times. ISSN 1553-8095. OCLC 1645522. Archived from the original on December 18, 2024. Retrieved April 3, 2025.
  10. ^ Tsotsis, Alexia (December 15, 2011). "Want A Piece Of Founders Fund's Latest $625M Fund? Start By Trying To Change The World". TechCrunch. Archived from the original on August 31, 2023. Retrieved August 12, 2020.
  11. ^ Novet, Jordan (March 5, 2014). "Founders Fund raises a big $1B fund to plunk into startups". VentureBeat. Archived from the original on November 29, 2023. Retrieved September 16, 2014.
  12. ^ Martin, Scott (March 25, 2016). "Peter Thiel's Founders Fund Bags $1.3 Billion". The Wall Street Journal. Dow Jones & Company. ISSN 1042-9840. OCLC 781541372. Archived from the original on November 28, 2023. Retrieved July 22, 2017.
  13. ^ "Founders Fund stocks up with $3B across two funds". PitchBook. February 20, 2020. Archived from the original on March 29, 2025. Retrieved November 16, 2020.
  14. ^ a b c d e Roof, Katie (March 3, 2022). "Founders Fund Raises $5 Billion for Early- to Late-Stage Deals". Bloomberg News. Archived from the original on March 28, 2025. Retrieved April 4, 2022.
  15. ^ Hogg, Ryan (March 11, 2023). "Peter Thiel's Founders Fund got its cash out of Silicon Valley Bank before it was shut down, report says". Business Insider. OCLC 1076392313. Archived from the original on March 28, 2025. Retrieved March 13, 2023.
  16. ^ "Founders Fund". Angels Partners. Archived from the original on August 4, 2024. Retrieved February 17, 2024.
  17. ^ a b c Primack, Dan (February 19, 2020). "Peter Thiel's Founders Fund isn't really Peter Thiel's Founders Fund". Axios. Cox Enterprises. Archived from the original on April 22, 2024. Retrieved August 12, 2020.
  18. ^ Schubarth, Cromwell (June 24, 2015). "VC Scott Nolan on using what he learned at SpaceX to invest at Founders Fund". Silicon Valley Business Journal. American City Business Journals. Archived from the original on July 30, 2024. Retrieved August 2, 2023.
  19. ^ Marinova, Polina (June 7, 2018). "Kevin Hartz Is Stepping Down as Partner at Founders Fund". Fortune. ISSN 2169-155X. OCLC 38999231. Archived from the original on January 26, 2025. Retrieved July 24, 2018.
  20. ^ Primack, Dan (March 6, 2014). "Sean Parker formally leaves Founders Fund". Fortune. ISSN 2169-155X. OCLC 38999231. Archived from the original on January 25, 2025. Retrieved April 3, 2025.
  21. ^ Constine, Josh (December 11, 2012). "Founders Fund Partner Bruce Gibney Has Left The Firm". TechCrunch. Archived from the original on November 27, 2024. Retrieved January 17, 2017.
  22. ^ Birkwood, Susannah (October 31, 2012). "Profile: Founders Fund's Bruce Gibney". Asian Venture Capital Journal. Archived from the original on November 7, 2024. Retrieved January 17, 2017.
  23. ^ McBride, Sarah (August 18, 2017). "Founders Fund's Geoff Lewis Leaves to Start His Own Fund". Bloomberg News. Archived from the original on November 16, 2024. Retrieved November 27, 2019.
  24. ^ Konrad, Alex (December 11, 2023). "Startup Armada Is Bringing AI To Remote Places, Using SpaceX Starlink Satellites". Forbes. ISSN 0015-6914. OCLC 6465733. Archived from the original on January 19, 2025. Retrieved January 30, 2024.
  25. ^ "Portfolio". Founders Fund. Archived from the original on March 30, 2025. Retrieved March 9, 2023.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Founders_Fund&oldid=1283757631"