Facebook investor and PayPal co-founder Peter Thiel’s venture capital firm Founders Fund is reportedly seeking $750m for its new fund.
The fifth fund is set to be 20 per cent bigger than Founders’ previous vehicle, said Bloomberg, citing an investor presentation.
As much as 70 per cent of the fund will be dedicated to new investments and the rest will be used for additional investment in existing portfolio companies.
Since its launch in 2005 Founders Fund has raised $1.15bn across four vehicles. Its investees include business software company Yammer, which was acquired by Microsoft for $1.2bn in 2012.
The firm will take a 2.5 per cent management fee and is entitled to 20 per cent of the profits, according to the report.
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