Founders Fund

Activity from announced rounds

All recorded activity

Founders Fund is a technology venture firm with partners working in engineering-led businesses across energy, infrastructure, manufacturing, transport, biotechnology and defence.

The partnership combines investing with direct company creation. Trae Stephens co-founded Anduril and serves as its executive chairman; Delian Asparouhov co-founded Varda Space Industries; Scott Nolan founded uranium-enrichment company General Matter. These roles put investors inside the work of building industrial and defence businesses.

Nolan’s investing focus includes engineering-driven startups in energy, infrastructure, manufacturing, transportation and biotechnology. Stephens brings experience developing products and expanding government business at Palantir, including in intelligence and defence.

Sources
Rounds participated in
38
Confirmed lead rounds
1
29 roles undisclosed
New companies
36
First participation on record · 2 follow-on
Funding in participating rounds
$10.8B
35 disclosed · full round size, not this investor’s share

By stage

Series C+12
Series B11
Series A7
Undisclosed4
Seed3
1 more
Growth1

By primary sector

Defense tech8
AI7
Biotech3
Climate tech3
Space tech3
10 more
Agritech2
Enterprise software2
Hardware2
Mobility2
Ecommerce1
Fintech1
Healthtech1
Industrial tech1
Proptech1
Robotics1

By country

United States31
United Kingdom2
Brazil1
Bulgaria1
Germany1
2 more
Netherlands1
New Zealand1

Rounds

38 in all activity
Halter

Develops GPS-enabled cattle collars using sensors, software and AI.

$220MSeries E
Role not disclosed
Swarm Aero

Develops large uncrewed aerial vehicle swarms and command and control software

$35MSeries A
Role not disclosed
Nominal

Offers software for hardware engineers to test designs

$80MSeries B+
Role not disclosed
Freeform

Develops AI-native 3D-printing systems for metal components using real-time simulations

$67MSeries B
Role not disclosed
Onodrim Industries

Develops defence industrial platform for Europe's security and resilience

€40MSeed
Role not disclosed
Avalanche Energy

Develops modular compact fusion machines for clean energy applications

$29MSeries A
Role not disclosed
Hadrian

Builds highly automated factories producing defense and aerospace systems

UndisclosedUndisclosed
Role not disclosed
Valinor Enterprises

Builds and buys critical defense and government technology solutions

$54MSeries A
Role not disclosed