Founders Fund

Activity from announced rounds

Activity in this selectionAI

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
23
Confirmed lead rounds
0
20 roles undisclosed
New companies
21
First participation on record · 2 follow-on
Funding in participating rounds
$8.9B
21 disclosed · full round size, not this investor’s share

By stage

Series C+9
Series B7
Series A3
Undisclosed3
Growth1

By primary sector

AI7
Defense tech3
Biotech2
Enterprise software2
Hardware2
7 more
Agritech1
Climate tech1
Ecommerce1
Fintech1
Healthtech1
Industrial tech1
Proptech1

By country

United States19
United Kingdom2
Brazil1
New Zealand1

Rounds

23 in this selection
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
Network Bio

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

$50MStrategic
Role not disclosed
Hadrian

Builds highly automated factories producing defense and aerospace systems

$1.4BSeries D
Participant
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
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
Fractile

Builds custom inference chips designed to run frontier AI models faster by co-locating memory and compute

$220MSeries B
Role not disclosed
Enter

AI litigator for large companies

$100MSeries 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
Giraffe360

AI-powered real estate marketing technology platform

$10MSeries B
Role not disclosed
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
Hadrian

Builds highly automated factories producing defense and aerospace systems

UndisclosedUndisclosed
Role not disclosed