Founders Fund nears $6B close for latest growth fund, sources say

Peter Thiel’s Founders Fund is nearing the close of its fourth growth fund, Founders Fund Growth IV, with $6 billion in capital commitments, per sources close to the firm. As with most of the firm’s fundraises, demand from outside investors exceeds the fund’s capacity, according to those sources. Additionally, about $1.5 billion of the capital is coming from the Founders Fund’s partners, one of the sources told TechCrunch. The fresh fundraise comes less than a year after Founders Fund closed its third growth fund, a $4.6 billion vehicle intended primarily for follow-on investments in its successful late-stage companies. The 21-year-old firm has an impressive portfolio of winning startups. Founders Fund was an early investor in AI cloud computing company Crusoe, workforce management platform Rippling, and fintechs Stripe and Ramp. The firm was also the first institutional investor in data analytics giant Palantir Technologies and holds stakes in numerous other defense tech companies, including SpaceX, Flock Safety, and Anduril, which Founders Fund partner Trae Stephens co-founded and that the firm backed from its first seed round. (Nine-year-old Anduril is currently reported to be raising a massive $4 billion round at a $60 billion valuation.) Founders Fund’s growth-stage capital ambitions are not limited to its existing portfolio alone. Last month, for example, the San Francisco-based firm made its first direct investment in Anthropic. Founders Fund, along with D. E. Shaw Ventures, Dragoneer, ICONIQ, and MGX, co-led a $30 billion investment into the AI company at a $380 billion post-money valuation. The investment makes Founders Fund one of the few firms with significant stakes in both of the leading AI labs — it’s also an investor in OpenAI.

Although Founders Fund is aggressively raising growth capital, the firm has not raised a new early-stage fund since early 2022, when it announced its eighth early-stage fund with $1.8 billion in capital commitments. Techcrunch event Disrupt 2026: The tech ecosystem, all in one room Your next round. Your next hire. Your next breakout opportunity. Find it at TechCrunch Disrupt 2026, where 10,000+ founders, investors, and tech leaders gather for three days of 250+ tactical sessions, powerful introductions, and market-defining innovation. Register now to save up to $400. Save up to $300 or 30% to TechCrunch Founder Summit 1,000+ founders and investors come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediatelyOffer ends March 13. San Francisco, CA | October 13-15, 2026 REGISTER NOW In 2023, the firm cut that fund in half to $900 million in response to worsening conditions. Founders Fund reallocated the remaining $900 million into a separate early-stage fund that officially launched last October, according to a regulatory filing. Founders Fund declined to comment. Topics Exclusive, Founders Fund, growth stage, Peter Thiel, Venture Marina Temkin Reporter, Venture Marina Temkin is a venture capital and startups reporter at TechCrunch. Prior to joining TechCrunch, she wrote about VC for PitchBook and Venture Capital Journal. Earlier in her career, Marina was a financial analyst and earned a CFA charterholder designation. You can contact or verify outreach from Marina by emailing marina.temkin@techcrunch.com or via encrypted message at +1 347-683-3909 on Signal.

View Bio June 9 Boston, MA Actively scaling? Fundraising? Planning your next launch?TechCrunch Founder Summit 2026 delivers tactical playbooks and direct access to 1,000+ founders and investors who are building, backing, and closing.Register by March 13 to save up to $300. REGISTER NOW Most Popular OpenAI hardware exec Caitlin Kalinowski quits in response to Pentagon deal Anthony Ha Cluely CEO Roy Lee admits to publicly lying about revenue numbers last year Julie Bort Cursor is rolling out a new kind of agentic coding tool Russell Brandom Meta sued over AI smart glasses’ privacy concerns, after workers reviewed nudity, sex, and other footage Sarah Perez Jensen Huang says Nvidia is pulling back from OpenAI and Anthropic, but his explanation raises more questions than it answers Connie Loizos Anthropic CEO Dario Amodei calls OpenAI’s messaging around military deal ‘straight up lies,’ report says Amanda Silberling Father sues Google, claiming Gemini chatbot drove son into fatal delusion Rebecca Bellan