Tuesday, December 18, 2007

Founders Fund Raises $220M For Seed Stage Deals

Founders Fund, the VC investment firm headed by Peter Thiel and Ken Howery, co-founders of PayPal, said Monday in a call that the firm has raised $220M for investments in early stage companies. Founder's Fund currently holds stakes in Facebook, Jaxtr, Geni, Slide, Ooma, Powerset, Quantcast, and other firms. The new fund, Founders Fund II, was funded by institutional investors, and follows an earlier $50M fund managed by the firm and raised from individuals.