San Francisco–based venture capital firm Founders Fund is looking to raise $600 million for its fourth fund, Bloomberg reports. The firm seeks to close the fund by the end of this month. The fund will invest in early-stage technology companies and more mature start-ups. The firm closed its third fund last year with just $250 million.
Some of Founders Fund’s investments are Spotify, Europe’s largest legal online music site, and Yammer, a social networking service for businesses. Facebook investor Peter Thiel raised the first capital for Founders Fund in 2005 and the second fund in 2007 along with the VC firm’s co-founders Ken Howery and Luke Nosek.
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