Founders Fund, the renowned venture capital firm, is redirecting its focus by choosing not to raise a ninth core fund for early-stage companies. Instead, the firm is steering its resources towards larger growth investments. Notably, Founders Fund is leading Anduril‘s latest funding round, which estimates to reach up to $2.5 billion, valuing Anduril at a staggering $28 billion. This marks the largest check Founders Fund has ever written.
The firm's strategic shift includes raising $3 billion, with $900 million allocated to its now-concluded core ninth fund. The decision represents a significant move in the venture capital landscape, as Founders Fund chooses to limit fund sizes, a contrast to most multi-stage venture firms. Despite this, the firm maintains a robust portfolio, including stakes in prominent companies such as SpaceX, Stripe, OpenAI, and Figma.
While Founders Fund declined to comment on this development, it is evident that the firm is making calculated decisions to bolster its growth fund strategy. Its previous $3.4 billion growth fund closed in early 2022 and has been entirely invested in high-potential companies like Rippling, which secured $200 million in April.
Interestingly, earlier this year, Founders Fund reportedly reduced the size of its eighth venture capital fund by half, which initially stood at about $1.8 billion. This strategic reduction is part of the firm's broader objective to concentrate on more substantial growth opportunities.
The firm's current fundraising efforts for its third growth fund are expected to conclude by the end of March. However, specifics regarding the size of this fund remain undisclosed. The investment in Anduril may originate from the $3.4 billion fund closed in 2022, though this remains uncertain.
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