According to those close to the company, Founders Fund is on track to wrap up the fundraising of its third expansion fund by the end of March. According to a source who spoke to TechCrunch, the organization formed by Peter Thiel is raising $3 billion, as reported by Axios.
It is anticipated that the fund will be heavily oversubscribed, mainly for further investments in its profitable late-stage portfolio firms.
The Founders Fund is entirely invested in businesses like Rippling, which raised $200 million in April, and its last $3.4 billion expansion fund closed in early 2022. According to CNBC, Founders Fund is spearheading Anduril’s most recent fundraising round, which is expected to reach up to $2.5 billion at a $28 billion value. The company’s reported $1 billion investment in Anduril would come from the $3.4 billion fund in 2022 is unknown.
Since the ninth core fund for early-stage enterprises was virtually raised three years ago, the firm will not be raising it again. According to reports, Founders Fund cut their ninth venture capital fund in half.
This is one of the factors contributing to the excitement surrounding this new growth fund. Founders Fund is restricting its fund sizes, whereas the majority of multi-stage venture companies are raising larger funds, or at the very least, attempting to retain their peak ZIRP-era numbers.
Investors are motivated to participate. In addition to Anduril and SpaceX, Founders Fund’s portfolio of growing businesses also includes Stripe, OpenAI, and Figma.
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