Founders Fund Nears $6 Billion Close for Latest Growth Fund

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Peter Thiel's Founders Fund is nearing the close of its fourth growth fund, Founders Fund Growth IV, with $6 billion in capital commitments, according to sources close to the firm. The fresh fundraise comes less than a year after the firm closed its previous $4.6 billion growth fund. Founders Fund has an impressive portfolio of successful startups, including AI cloud computing company Crusoe, workforce management platform Rippling, and fintechs Stripe and Ramp.

Why it matters

Founders Fund's ability to raise large growth funds demonstrates the firm's success in identifying and backing high-growth startups. The firm's growth capital ambitions extend beyond its existing portfolio, as evidenced by its recent $30 billion investment in leading AI lab Anthropic.

The details

The $6 billion Founders Fund Growth IV will primarily be used for follow-on investments in the firm's successful late-stage portfolio companies. About $1.5 billion of the capital is coming from Founders Fund's own partners. The firm was an early investor in several prominent startups, including AI cloud computing company Crusoe, workforce management platform Rippling, and fintechs Stripe and Ramp. Founders Fund was also the first institutional investor in data analytics giant Palantir Technologies and holds stakes in numerous defense tech companies.

• Founders Fund closed its previous $4.6 billion growth fund less than a year ago.
• Founders Fund announced its eighth early-stage fund with $1.8 billion in capital commitments in early 2022.
• Founders Fund reallocated the remaining $900 million from its 2023 early-stage fund into a separate early-stage fund that officially launched last October.