Founders Fund

Activity from announced rounds

Activity in this selectionUnited States · May 31, 2026 · May 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
5
Confirmed lead rounds
—
5 roles undisclosed
New companies
5
First participation on record · 0 follow-on
Funding in participating rounds
$1.7B
5 disclosed · full round size, not this investor’s share

By stage

Series B2
Series C+2
Growth1

By primary sector

AI2
Climate tech1
Ecommerce1
Healthtech1

By country

United States5

Rounds

5 in this selection
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