San Francisco-based is the latest VC firm to raise large new funds, .
According to the report, the firm has closed more than $5 billion in two new funds that will be dedicated to both early- and late-stage investing. The funds increase Founders Fund鈥檚 assets under management to $11 billion.
The new funds are broken down into a $1.9 billion venture fund and a $3.4 billion growth fund.
Founders Fund鈥攁 highly recognized firm whose investments over the years include , and 鈥攋oins a growing list of big-name firms raising new monster funds. In January, raised $9 billion聽for three new funds, and announced last month it had closed a $20 billion fund. And this week, San Francisco-based crypto asset management firm announced the close of a new $1 billion fund.
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Much has been made of the slowdown in venture funding announcements since global tensions and Russia鈥檚 invasion of Ukraine ratcheted up. If there is an actual slow down鈥攔ight now it is likely many companies are holding back news so it is not buried under more pressing headlines鈥擵Cs have mentioned there could be a slowdown in funds being raised.
That would be a large reversal of what has occurred in the past few years. One venture capitalist even mentioned that if a real correction occurs, it is possible for firms to decrease fund size and give money back to LPs.
It鈥檚 nearly a certainty a firm such as Founders Fund will not be doing that, but it is eye-catching to see fund announcements of this size at the same time that actual funding seems to be slowing down.
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