Founders Fund raises $6B for largest fund in firm history
Founders Fund, Peter Thiel's, has pulled in a massive $6 billion for its newest investment fund, the biggest in the firm's history.
Most of this cash came from big players like sovereign wealth funds, with the rest put in by the fund's own team.
The fundraising wrapped up less than a year after its predecessor, showing how top startups are leaning toward private funding instead of going public.
Founders Fund backing about 12 startups
The plan is to stick with their usual strategy: making big bets on just a handful of companies.
Founders Fund has previously backed names like Anthropic (AI), Anduril (defense tech), Stripe, and OpenAI.
Over the next couple of years, they'll invest this new capital into about a dozen startups, pretty much following the playbook of other big venture capital firms like Sequoia and Thrive Capital.