News Summary

Founders Fund, established by Peter Thiel, is nearing the conclusion of raising its third growth fund, targeting $3 billion by the end of March. The fund aims to support late-stage portfolio companies and is expected to be oversubscribed. Previous investments include Rippling, Anduril, SpaceX, Stripe, OpenAI, and Figma. The firm will not raise a ninth core fund for early-stage investments, as it effectively raised it three years ago. Founders Fund has reportedly reduced its eighth venture fund from $1.8 billion to $900 million, reallocating the remainder to the ninth core fund. Despite the trend of larger multi-stage funds, Founders Fund is intentionally limiting fund sizes.