Peter Thiel’s Founders Fund Closes $4.6B Growth Fund
Even as liquidity from exits remains stalled, it hasn’t stopped some firms from raising massive new growth funds.
The most recent example is Peter Thiel’s Founders Fund, which has closed a $4.6 billion late-stage venture fund, according to a filing with the U.S. Securities and Exchange Commission.
The new fund, Founders Fund Growth III, had been reported back in December as being about $3 billion.
Going big
The San Francisco-based firm is best known for its investments over the years which include Airbnb, Palantir and Stripe, and recently invested heavily in defense tech — including co-leading Costa Mesa, California-based Anduril Industries’ huge $1.5 billion Series F along with Sands Capital Ventures that valued the company at $14 billion.
News of the new fund comes just as several companies halt their IPO process and the M&A market remains murky as stock market tumult and threats of a possible trade war make many investors uneasy.
The stall in exits has been a cause for concern among VCs, as DPI — distributed to paid-in capital, or the capital paid to funds’ LPs after exits by those funds’ portfolio companies — remains their top issue.
Despite that, Founders has been quite active this year, per Crunchbase data. In the first three-and-a-half months, the firm has made 20 investments into startups.
Late last year, Founders led a $600 million round for Crusoe Energy Systems that valued the energy firm at $2.8 billion.
Related Crunchbase Pro list:
Related reading:
- Defense Tech Venture Funding Gains Traction
- Founders Fund’s Investment Pace Slowed Ahead Of Fund Cut
Illustration: Dom Guzman
Peter Thiel’s Founders Fund Closes $4.6B Growth Fund
Even as liquidity from exits remains stalled, it hasn’t stopped some firms from raising massive new growth funds.
The most recent example is Peter Thiel’s Founders Fund, which has closed a $4.6 billion late-stage venture fund, according to a filing with the U.S. Securities and Exchange Commission.
The new fund, Founders Fund Growth III, had been reported back in December as being about $3 billion.
Going big
The San Francisco-based firm is best known for its investments over the years which include Airbnb, Palantir and Stripe, and recently invested heavily in defense tech — including co-leading Costa Mesa, California-based Anduril Industries’ huge $1.5 billion Series F along with Sands Capital Ventures that valued the company at $14 billion.
News of the new fund comes just as several companies halt their IPO process and the M&A market remains murky as stock market tumult and threats of a possible trade war make many investors uneasy.
The stall in exits has been a cause for concern among VCs, as DPI — distributed to paid-in capital, or the capital paid to funds’ LPs after exits by those funds’ portfolio companies — remains their top issue.
Despite that, Founders has been quite active this year, per Crunchbase data. In the first three-and-a-half months, the firm has made 20 investments into startups.
Late last year, Founders led a $600 million round for Crusoe Energy Systems that valued the energy firm at $2.8 billion.
Related Crunchbase Pro list:
Related reading:
- Defense Tech Venture Funding Gains Traction
- Founders Fund’s Investment Pace Slowed Ahead Of Fund Cut
Illustration: Dom Guzman