Founders Fund Growth III was the latest class of Founders Fund, getting backing for Peter Thiel’s new $4.6 billion growth-stage fund for later stage startups such as artificial intelligence (AI), defense tech and advanced manufacturing. Thiel’s fund also attracted input from 270 investors who will have Trae Stephens and Napoleon Ta and himself managing it.
Since its start in 2005, Founders Fund has established itself as a trusted name in early investments in change makers such as SpaceX, Facebook, and Palantir Technologies. Famous for supporting bold ideas, disruptive startups and being contrarian about technology and market trends, it’s where the firm flexes its disruptive corporate muscle.
The new fund is dedicated to dual use technologies (i.e. technologies with military and civilian uses). It’s in keeping with more general developments for venture capital investors, who are focusing strategic sectors because of geopolitical tensions and national security concerns. According to Reuters, the Anduril Industries AI defense startup will receive a funding round from Founders Fund that would value it at about $28 billion.
This will allow Founders Fund to continue its investment in helping businesses accomplish the long term goal of leading the US in technology. Given that there is also a growing global competition from China, particularly in the area of innovation investment, the company has invested a lot of into innovation that is conducive to national resiliency.
With $4.6 billion in the fund, the Founders Fund is more prepared to support the following generation of high necessity makes a bigGEN startups, i.e. game-altering technologies in fields of artificial intelligence, cybersecurity, and industrial automation. As the investor interest in these areas grows, the fund is well situated to drive growth and create wider influence in key innovation sectors.
