Founders Fund was founded in 2005 by Peter Thiel, Ken Howery, and Luke Nosek. The firm is headquartered in San Francisco. Founders Fund invests at all stages and across a wide range of industries. The firm has developed a diverse portfolio that includes companies in aerospace, health, artificial intelligence, consumer internet services, and advanced computing. In 2022, Founders Fund kicked off two new funds for a total of $5 billion, bringing the firm's total assets under management to around $11 billion. While convention requires venture capital firms to put up 1% of total capital themselves, 20% of Founders Fund's managed capital is its own, making the firm's employees and partners the fund's largest collective investors.
A number of Founders Fund's portfolio companies have gone public through an IPO including Meta (Facebook), Lyft, Twilio, Spotify, Zynga, Airbnb, and SoFi. Other notable companies in the firm's portfolio include SpaceX, Stripe, Tagomi, Postmates, and Branch.