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Founders Fund is on track to conclude fundraising of its third growth fund at the end of March, according to people close to the firm. The Peter Thiel-founded outfit is raising $3 billion, a source told TechCrunch and\u00a0Axios also reported<\/a>.<\/p>\n The fund, which is intended primarily for additional investments in its successful late-stage portfolio companies, is expected to be significantly oversubscribed.<\/p>\n Founders Fund\u2019s previous $3.4 billion growth fund<\/a> closed in early 2022 and is fully invested in companies like Rippling, which raised $200 million in<\/a> April. Founders Fund is also leading Anduril\u2019s newest raise, on track to be an up to $2.5 billion round at a valuation of $28 billion, CNBC reported<\/a>. Sources confirmed to TechCrunch <\/a>that its share will be the largest check Founders Fund has ever written. It\u2019s unclear whether the firm\u2019s reported $1 billion investment<\/a> in Anduril would be out of that 2022 $3.4 billion fund.<\/p>\n The firm will not be raising a ninth core fund for early-stage companies because it was essentially already raised three years ago. Founders Fund reportedly slashed in half the size of its eighth venture capital fund of about $1.8 billion in 2023, Axios reported<\/a>. The remaining $900 million was pushed into the firm\u2019s core ninth fund.\u00a0<\/p>\n That\u2019s one reason why there\u2019s so much excitement for this new growth fund. While most multi-stage venture firms are raising larger funds, or at least trying to maintain<\/a> their peak ZIRP-era sizes, Founders Fund is limiting its fund sizes.<\/p>\n Investors have reason to want in. Founders Fund has an enviable portfolio of growth companies which not only includes Anduril and SpaceX but Stripe, OpenAI, and Figma.<\/p>\n Founders Fund declined to comment.<\/p>\n<\/div>\n \n\t\tMarina Temkin is a venture capital and startups reporter at TechCrunch. Prior to joining TechCrunch, she wrote about VC for PitchBook and Venture Capital Journal. Earlier in her career, Marina was a financial analyst and earned a CFA charterholder designation.\t<\/p>\n<\/div>\n \n\t\tView Bio