Founders Fund is announcing this evening that it has raised $1 billion for its fifth fund, which will be led by partners Ken Howery, Luke Nosek, Brian Singerman, Peter Thiel, Lauren Gross, Geoff Lewis, and Scott Nolan.
Since 2005, Founders Fund has raised over $2 billion and invested in a number of sectors, including aerospace, artificial intelligence, advanced computing, energy, health, and consumer. The firm says that Fund V will have a similarly broad investment strategy.
The firm’s portfolio includes Facebook, SpaceX, Palantir Technologies, Airbnb, Counsyl, Knewton, Lyft, Oculus, SolarCity, Spotify, Stripe, and ZocDoc. Recent portfolio company exits include The Climate Corporation, DeepMind, and Yammer.
As reported earlier this year, the firm was rumored to be raising $750 million for the fund. At the time, two-thirds of the fund would be used towards new investments, with the remaining capital devoted to follow-on rounds in existing investments. It’s unclear what the breakdown will be for this new amount.
Andreessen Horowitz is also reportedly raising a big $1.5 billion fourth fund.