Thiel, a billionaire investor in Facebook and SpaceX and co-founder of PayPal, will remain at the helm, with partners Lauren Gross, Ken Howery, Geoff Lewis, Scott Nolan, Luke Nosek and Brian Singerman.
Founders Fund is known to focus on cutting-edge investments in space, biotech and other fringe areas. The new capital comes at a time when unicorns, mid- and early-stage startups are struggling to raise and get to profitability.
Will the new infusion have a certain area of interest? Not according to a spokesperson for the fund. The team consists of generalists with experience investing in every stage, and the spokesperson told TechCrunch they are “open to looking at all sectors, including areas they haven’t previously invested in.”
“We look to make a material impact with each investment, and that requires investing with conviction,” said Founders Fund partner Singerman in a company statement. “We’re not afraid to go all in when we truly believe in a company. A fund of this size will allow us to put more capital behind our strongest entrepreneurs.”
This is the sixth fund, bringing the total amount of capital raised thus far to more than $3 billion.