Founders Fund

Activity from announced rounds

Activity in this selectionUnited States · Feb 28, 2026 · Feb 1, 2026

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
2
Confirmed lead rounds
—
2 roles undisclosed
New companies
2
First participation on record · 0 follow-on
Funding in participating rounds
$96M
2 disclosed · full round size, not this investor’s share

By stage

Series A1
Series B1

By primary sector

Climate tech1
Hardware1

By country

United States2

Rounds

2 in this selection
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