Founders Fund general partner Sean Parker steps down

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boardroom2_lrgFounders Fund general partner Sean Parker has left the San Francisco-based venture capital firm, which has just closed its new fund on $1bn.

Former Facebook president Parker joined the firm in 2006.

“He’s been winding down his involvement over the last few years to focus on other projects, and as of the close of fund V he’s no longer making any investments on behalf of the firm,” a Founders Fund spokesman told Fortune.

“He is maintaining his board seats in his active FF investments, including Spotify.”

Earlier this month Founders Fund closed its fifth vehicle on $1bn.

Founders Fund was the first institutional investor in revolutionary companies SpaceX and Palantir Technologies, and one of the earliest investors in Facebook.

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