Founders Fund’s first $50 million fund was 76 percent Peter Thiel’s own money.
In 2004 Ken Howery set out to raise a $50 million venture fund, at first called Clarium Ventures, and found it “super-hard”. Stanford’s endowment stepped away once it heard how small the fund was, and outside investors put in just $12 million. Thiel covered the rest himself: $38 million, 76 percent of the fund.
Founders Fund on Brandseum