Founders Fund

Activity from announced rounds

Activity in this selectionOct 24, 2026 · Industrial tech · Jul 27, 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
3
Confirmed lead rounds
1
All roles disclosed
New companies
2
First participation on record · 1 follow-on
Funding in participating rounds
$5.3B
3 disclosed · full round size, not this investor’s share

By stage

Series C+2
Seed1

By primary sector

AI1
Defense tech1
Industrial tech1

By country

United States3

Rounds

3 in this selection
Arda Industries

AI software that turns product designs into assembly plans and keeps manufacturing lines current as designs change.

$72MPreviously undisclosed seed
Lead
Crusoe

AI infrastructure combining GPU cloud services, managed AI tools, large-scale data centers and modular AI factories for model developers and enterprises.

$3.9BSeries F (initial close; anticipated total)
Participant
Hadrian

Builds highly automated factories producing defense and aerospace systems

$1.4BSeries D
Participant