Peter Thiel’s Founders Fund raises $6B for its largest-ever fund focused on later-stage companies

Peter Thiel's Founders Fund has raised $6B for a new fund focused on later-stage investments, the firm's largest haul ever, with $4.5B from limited partners including sovereign wealth funds and the remaining $1.5B from senior management and employees including Thiel, according to people familiar with the matter who spoke to Bloomberg. The fourth growth-stage vehicle was assembled less than a year after its predecessor, the fastest succession in the firm's two-decade history, following a $4.6B prior fund that backed seven companies with average checks of roughly $600M including a $1.25B bet on Anthropic at a $350B valuation and a $1B investment in Anduril. The new fund is expected to be deployed over two to three years and back about a dozen startups, joining recent later-stage raises by Sequoia Capital at about $7B and Thrive Capital at $10B.