Founders Fund announced has held the closing of a USD1bn fifth suite of venture capital funds.
Founders Fund V will be led by partners Ken Howery, Luke Nosek, Brian Singerman, Peter Thiel, Lauren Gross, Geoff Lewis, and Scott Nolan.
Members of the team have been investors, founders, and early employees of prominent technology companies including PayPal, Facebook, Google, Space Exploration Technologies (SpaceX), and Palantir Technologies.
Since its inception in 2005, Founders Fund has raised over USD2bn. The firm has historically invested in a wide variety of sectors, including aerospace, artificial intelligence, advanced computing, energy, health, and consumer Internet, and Fund V will have a similarly broad investment strategy.
“We have a clear vision of what the world should look like decades from now, and we seek out entrepreneurs that can partner with us to build toward that future,” says Nosek, founder and partner. “We want to find companies across all sectors and stages that are passionate about developing technologies to address the world’s most critical problems.”
Founders Fund was the first institutional investor in SpaceX and Palantir Technologies, and one of the earliest investors in Facebook. The firm is sector and stage agnostic, with a portfolio that includes Airbnb, Counsyl, Knewton, Lyft, Oculus, SolarCity, Spotify, Stripe, and ZocDoc. Recent portfolio company exits include The Climate Corporation, DeepMind, and Yammer.
