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

PANews reported on December 25 that Founders Fund, a venture capital firm co-founded by Peter Thiel, is raising approximately US$3 billion for its third growth equity fund, Axios learned from multiple sources. Founders Fund has not yet provided potential investors with an official size target for the new fund, but said $3 billion would be a rough estimate.

Founders Fund has invested in some of the world's most valuable technology startups, including SpaceX and Stripe. Thiel will also have access to the incoming White House due to its longstanding support of President-elect Trump and the company's multiple investments with Musk. Founders Fund has also invested in multiple crypto projects, including Igloo, Inc., the parent company of Pudgy Penguins, Bitcoin lending platform Lava, Bitcoin rollup project Citrea, etc.

Founders Fund successfully raised $3.4 billion for its second growth equity fund in 2022, while raising $1.8 billion for its eighth early-stage fund. However, early last year, as they sensed relatively few investment opportunities in the market, they decided to split the early-stage fund into two. But as of now, they have not started investing in what is now known as the "ninth fund." In addition, although there was discussion of splitting up the growth fund, it was never implemented. Now, most of the fund's capital has been deployed, including investments in capital-intensive AI companies.