Venture capital firm Founders Fund is raising about $3 billion for its third growth equity fund

According to multiple sources, Founders Fund, the venture capital firm co-founded by Peter Thiel, is raising around $3 billion for its third growth equity fund. Founders Fund has not yet provided the official target size for this new fund raise to potential investors, but has indicated that $3 billion will be the approximate size. Founders Fund has invested in some of the world's most valuable tech startups, including SpaceX and Stripe.

Due to Thiel's long-term support for President-elect Trump, and the firm's multiple investments with Musk, it will also have the opportunity to enter the incoming White House. Founders Fund has also invested in various crypto projects, including Igloo, Inc., the parent company of Pudgy Penguins, the Bitcoin lending platform Lava, and the Bitcoin rollup project Citrea. In 2022, Founders Fund successfully raised $3.4 billion for its second growth equity fund and $1.8 billion for its eighth early-stage fund. However, at the beginning of last year, they decided to split the early-stage fund in two, as they perceived relatively fewer investment opportunities in the market. But as of now, they have not yet started investing in what they are calling the "ninth fund". Additionally, while there have been discussions about splitting the growth fund, this has not been implemented. The majority of the fund's capital has now been deployed, including investments in capital-intensive AI companies.