- According to a regulatory filing, Founders Fund has raised $1.5 billion for a new fund called Founders Fund VII, LP
Founders Fund has raised $1.5 billion for a new fund called Founders Fund VII, LP to invest in both early- and later-stage companies, according to a regulatory filing with the US Securities and Exchange Commission spotted by Deal Street Asia.
Specifically, Founders Fund secured $1.496 billion in commitments from 203 investors shortly after the fund launched.
About 20% of the new fund is reportedly coming from Founders Fund head Peter Thiel and other Founders Fund partners.
And the closing of Founders Fund VII is coming about three years after Founders Fund raised $1.3 billion for Founders Fund VI in March 2016. Founders Fund originally launched in 2005. And the company’s partners and investors are known to be early employees of technology companies like PayPal, Facebook, SpaceX, and Palantir.
With this recent fund, Founders Fund has set up seven funds with about $5 billion in capital under management. And the firm has made 500 investments, including 135 as the lead investor. Some of Founders Fund’s portfolio companies include Eight Sleep, Ghost, Faire, Literati, GreenPark Sports, Tempest, OSARO, Wanderjaunt, and Superplastic.
Founders Funds’ partners include Peter Thiel, Brian Singerman, Lauren Gross, Scott Nolan, Trae Stephens, Cyan Banister, and Napoleon Ta. And Founders Fund principals include Aaron VanDevender, Zachary Hargreaves, John Luttig, Eric Scott, Matias Van Thienen, and Delian Asparouhov.
Featured photo credit: Peter Thiel of Founders Fund
