The firm was organized by Peter Thiel, Ken Howery, and Luke Nosek in early 2005 and raised its first fund of $50 million from individual entrepreneurs and angel investors in January of that year.[6]Sean Parker, co-founder of Napster and ex-president of Facebook, joined in 2006.[6] In 2007, the firm raised a new fund of $220 million.[7]
In 2010, the firm raised its third fund, with $250 million in committed capital,[8] and in 2011, a fourth fund with $625 million of committed capital was raised.[9][10]
In 2014, Founders Fund raised a $1 billion fifth suite of funds, bringing the firm's aggregate capital under management to more than $2 billion.[11]
In 2016, Founders Fund raised a sixth, $1.3 billion fund, bringing the firm's aggregate capital under management to more than $3 billion.[12]
In 2020, Founders Fund raised a seventh flagship fund and its first growth fund, representing $3 billion in new capital and bringing the firm's aggregate capital under management to more than $6 billion.[13]
In 2022, Founders Fund raised an eighth flagship fund and its second growth fund, representing over $5 billion in new capital and bringing the firm's aggregate capital under management to more than $11 billion.[14]
In 2023, Founders Fund advised companies to withdraw money from Silicon Valley Bank upon announcement of their attempt to raise capital, helping to spur a bank run on the bank and inducing the FDIC to take over.[15]
In March 2023, Founders Fund cut the size of its eighth venture capital fund in half, from around $1.8 billion to around $900 million, to adapt to uncertain market conditions.[16]
Partners
As of winter 2023, the firm had thirteen Partners:
^Founders Fund raises $250M vehicle (July 19, 2010). "Founders Fund raises $250M vehicle". San Francisco Business Times. Retrieved August 27, 2013.{{cite news}}: CS1 maint: numeric names: authors list (link)
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