Founders Fund
Peter Thiel, Brian Singerman, Napoleon Ta (partners); registered investment adviser
Contrarian frontier-tech: the marquee blend of space (SpaceX), defense (Anduril), and AI (Anthropic, OpenAI). The only top firm where space/defense and AI are co-equal flagship bets — closest match to the space+AI thesis in one fund.
What to know about this record
- Not open — Not an open-ended vehicle — analysis only, not an available allocation.
- No public record — No published return series — performance cannot be verified in either direction.
- Private marks — Material value sits in private marks that have not been exit-tested.
Size$26B
TypeVC
Top holdingSpaceX
Positions
Key positions
SpaceX
Single largest, most valuable position; filed for a record ~$1.75T IPO in 2026
Anthropic
~$1.25B invested from the prior fund; secondary mark has more than doubled past ~$800B
Anduril
~$1B invested; led its June 2025 round at $30.5B, now raising at ~2x — the defense flagship
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QAI analysis
Our take
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