San Francisco-based Founders Fund said it closed a $1.3 billion sixth venture capital fund. This fund brings the firm’s total amount of capital under management to over $3 billion.

Founders Fund VI will be led by partners Lauren Gross, Ken Howery, Geoff Lewis, Scott Nolan, Luke Nosek, Brian Singerman, and Peter Thiel. Members of the team have been founders and early employees of prominent technology companies including PayPal, Google, Palantir Technologies, and Space Exploration Technologies (SpaceX). All of the firm’s partners are generalists, investing across sectors and at every stage, though the firm is known for making large, concentrated investments.

“We look to make a material impact with each investment, and that requires investing with conviction,” said Brian Singerman, partner at Founders Fund. “We’re not afraid to go all in when we truly believe in a company. A fund of this size will allow us to put more capital behind our strongest entrepreneurs.”

Founders Fund was formed in 2005 to back entrepreneurs pursuing major scientific and technological breakthroughs. The firm invests at all stages across a wide variety of sectors, including aerospace, artificial intelligence, advanced computing, energy, healthcare, materials science, robotics, therapeutics, and consumer internet.

Founders Fund’s largest investments to date include Airbnb, Oscar, Palantir Technologies, SpaceX, Stemcentrx, and Stripe.

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