According to an SEC filing, Peter Thiel's Founders Fund has completed a salary increase for the third Growth Fund. This is beyond the total, a major step from the previous $3.4 billion growth fund that closed in early 20222, but there are a few other interesting things to consider about this salary increase.
One is reportedly the company is raising more than the $3 billion growth fund, according to a report from February. The Founders Fund is so big and successful that you can always raise an over-supported fund whenever you choose. According to the filing, 270 LPs have actually been stacked on the fund. Sources told CNBC that a significant amount of capital also came from the company's general partners.
In 2023, while the venture market was in bare mode, Thiel was slow to invest, and ostensibly chose to reduce the size of the new fund. So this is another indication that venture investments have moved from Bear to Bull again.
Beyond that, so many VCs are chasing all of the AI, but Founders Fund also sits in another hot market sweet spot, Defense Tech. This has long tendrils within the Trump administration. Trae Stevens, a partner in the fund and co-founder of Andrill, also wrote a manifesto about the “ethics” of backing and defense technology startups.
The Founders Fund is a backer of many AI startups, including Openai, but holds perhaps the most frightening defence technology portfolio in the valley, including Anduril, SpaceX, Flock Safety, Biofire and more.
The Founders Fund did not immediately respond to requests for comment.