Founders Fund

Activity from announced rounds

Activity in this selectionUnited States

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
31
Confirmed lead rounds
1
24 roles undisclosed
New companies
29
First participation on record · 2 follow-on
Funding in participating rounds
$10B
29 disclosed · full round size, not this investor’s share

By stage

Series C+11
Series A7
Series B7
Undisclosed3
Seed2
1 more
Growth1

By primary sector

AI7
Defense tech7
Biotech3
Climate tech3
Mobility2
8 more
Space tech2
Ecommerce1
Enterprise software1
Fintech1
Hardware1
Healthtech1
Industrial tech1
Robotics1

By country

United States31

Rounds

31 in this selection
Multiply Labs

Multiply Labs builds robotics for manufacturing personalized medicines, helping drug makers produce individualized treatments with less manual work.

$75MSeries B
Participant
Varda

Varda builds spacecraft that manufacture materials in low Earth orbit and return them to Earth. Its capsules support microgravity pharmaceutical development and materials processing, followed by controlled reentry and post-flight analysis of returned payloads.

$251MSeries D
Participant
Crusoe

AI infrastructure combining GPU cloud services, managed AI tools, large-scale data centers and modular AI factories for model developers and enterprises.

$3.9BSeries F (initial close; anticipated total)
Participant
Cognition

Cognition develops Devin, an autonomous software-engineering system, and the Windsurf AI code editor.

>$2BSeries E
Participant
Regent

All-electric Seaglider vessels for fast, zero-emission coastal transportation.

$240MSeries B
Participant
Voya Energy

Develops aluminum-based fuel and electrochemical generator for clean firm power

$35MSeries A
Role not disclosed
Network Bio

Builds AI models trained on patient tissue and clinical data for disease diagnostics

$50MStrategic
Role not disclosed
Gamgee

Gamgee develops personalized mRNA vaccines for dogs with cancer, designed from the genetic profile of each dog’s tumor.

$4MSeed
Lead
Hadrian

Builds highly automated factories producing defense and aerospace systems

$1.4BSeries D
Participant
Senra Systems

Software-driven manufacturing company modernizing wire harness production

$65MSeries B
Role not disclosed
State Affairs

AI platform for policy and regulatory intelligence

$70MUndisclosed
Role not disclosed
Hydra Host

Operates an AI data center operating system and GPU compute offtake network connecting data center operators with AI builders

$100MSeries A
Role not disclosed
Poetic

Automates complex enterprise processes for finance and insurance with reliable AI

$50MSeries A
Role not disclosed
Ramp

Provides financial infrastructure for corporate cards, invoicing, and expense management

$750MSeries F
Role not disclosed
Layup Parts

Provides on-demand composite parts manufacturing for aerospace, defense, and motorsports customers

$42MSeries A
Role not disclosed
Impulse Space

Builds highly maneuverable orbital transfer vehicles and kick stages for in-space mobility and satellite logistics

$500MSeries D
Role not disclosed
Westmag

American manufacturer of drone motors and robot actuators

$11MSeed
Role not disclosed
Garner Health

Helps patients choose healthcare providers using data and financial incentives.

$100MSeries E
Role not disclosed
Cognition

Cognition develops Devin, an autonomous software-engineering system, and the Windsurf AI code editor.

$1BGrowth
Role not disclosed
Stord

Provides fulfillment network, software, and AI helping independent brands compete on direct consumer experience

$250MSeries F
Role not disclosed
Armada

Builds modular edge AI data centers for remote, industrial, and defense environments

$230MSeries B
Role not disclosed
Panthalassa

Deploys autonomous wave-powered floating nodes that perform AI inference computing offshore

$140MSeries B
Role not disclosed
Loop

Loop provides an AI platform for logistics and supply-chain operations.

$95MSeries C
Role not disclosed
Alloy Therapeutics

Drug discovery platforms and integrated development services for biotechnology and pharmaceutical partners.

$40MSeries E
Role not disclosed
Hermeus

Develops high-Mach unmanned aircraft for national security missions

$350MSeries C
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
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