In 2020, Founders Fund raised a seventh flagship fund and its first growth fund, representing $3 billion in new capital and bringing the firm's aggregate capital under management to more than $6 billion. In 2016, Founders Fund raised a sixth, $1.3 billion fund, bringing the firm's aggregate capital under management to more than $3 billion. In 2014, Founders Fund raised a $1 billion fifth suite of funds, bringing the firm's aggregate capital under management to more than $2 billion. In 2010, the firm raised its third fund, with $250 million in committed capital, and in 2011, a fourth fund with $625 million of committed capital was raised. In 2007, the firm raised a new fund of $220 million. Sean Parker, co-founder of Napster and ex-president of Facebook, joined in 2006. The firm was organized by Peter Thiel, Ken Howery, and Luke Nosek in early 2005 and raised its first fund of $50 million from individual entrepreneurs and angel investors in January of that year. The firm’s partners, including Peter Thiel, Ken Howery and Brian Singerman, have been founders, early employees and investors at companies including PayPal, Google, Palantir Technologies, and SpaceX. Founders Fund was the first institutional investor in Space Exploration Technologies ( SpaceX) and Palantir Technologies, and early investor in Facebook. "Our objective with this new fund is to continue to demonstrate that it is possible to achieve top-tier returns by investing in companies started by women with the larger goal of pushing the investor ecosystem forward in their approach towards investing in women by demonstrating strong returns.Founders Fund is a San Francisco based venture capital firm formed in 2005 and has roughly $11 billion in total assets under management as of 2022. "The investment and business community have been discussing the importance of investing in female-led businesses for years, and today, it has never been more relevant," Duggal says. With this new fund, Duggal says FFF hopes to not only increase the amount of investments in women entrepreneurs, but it also hopes to continue counseling female founders on business strategy shifts due to the pandemic, as well as providing them with the necessary networking opportunities and platforms to thrive. New and innovative ideas come from everywhere we can't keep looking in the same old packages." "I've invested in the Female Founders Fund because we need women founders and funders at the table if we want to build a more prosperous and inclusive economy for everyone. "I firmly believe we are missing out on transformational ideas by not putting resources behind women," Gates said in a statement. And as of March 2021, that number had remained the same, according to Crunchbase. In 2019, start-ups with all-female founders received 3.4% of venture capital funding in the U.S., an all-time high, reports Crunchbase. The closing of this new fund, Duggal says, comes at a perfect time as female founders continue to face challenges with receiving investments, especially amid the pandemic. Since its inception in 2014, FFF has invested in more than 50 women-led companies, with over 70% of its third fund investments going to BIPOC founders. "So the big shift in this fund is really the check size. "This fund is actually a continuation of our existing strategy," says Duggal, who explains that FFF has raised three funds so far including its first one for $6 million and a second one for $25 million. With this new investment, FFF reports that it now has the largest fund of seed capital geared specifically toward female entrepreneurs.
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