Founders Fund has led a landmark $2.5bn Series G funding round in US defence tech company Anduril Industries, with the $1bn cornerstone commitment marking the largest single investment in the venture firm’s history, according to a report by Bloomberg.
The round more than doubles Anduril’s valuation to $30.5bn, up from $14bn in 2023, as the firm positions itself at the heart of the next generation of national security and defence innovation. Anduril Executive Chairman Trae Stephens – who is also a Founders Fund Partner – told Bloomberg Television the raise was oversubscribed, with investor demand significantly outpacing the capital taken.
The round also includes a secondary tender component – backed by Thrive Capital – allowing early employees and investors to realise liquidity worth hundreds of millions of dollars, according to sources close to the deal.
The capital injection will support Anduril’s continued push into scalable autonomous defence systems, bolstering its manufacturing capabilities and expanding production of military-grade drones, sensors, and battlefield intelligence software. The firm’s Columbus, Ohio-based Arsenal-1 facility is set to become a hub for mass-producing aerial and maritime autonomous systems.
For Founders Fund, the $1bn lead investment underscores a broader thesis that the US defence industrial base is ripe for disruption – and that venture-style capital can shape the next generation of defence contractors.
“This was about building a company with the scale, capital and capability to solve the biggest problems in national security,” said Stephens. “We saw a critical moment to shore up the balance sheet and prepare for the next phase of production growth.”
