Founders Fund

Activity from announced rounds

Activity in this selectionMay 31, 2026 · AI · 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
7
Confirmed lead rounds
—
7 roles undisclosed
New companies
7
First participation on record · 0 follow-on
Funding in participating rounds
$2B
7 disclosed · full round size, not this investor’s share

By stage

Series B4
Series C+2
Growth1

By primary sector

AI2
Climate tech1
Ecommerce1
Enterprise software1
Hardware1
1 more
Healthtech1

By country

United States5
Brazil1
United Kingdom1

Rounds

7 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
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