Founders Fund

Founders Fund is a San Francisco venture firm founded in 2005 by Peter Thiel, Ken Howery and Luke Nosek, managing approximately $17B in AUM. A $4.6B late-stage fund closed in April 2025. The firm was the first institutional investor in SpaceX (now an $18B+ position) and Palantir (18.5x return). Industrial deep tech holdings include Anduril, where the firm led the $1B Series G at a $30.5B valuation, plus Neuralink, DeepMind, Saronic and Castelion. Trae Stephens leads the defence practice.