Founders Fund Said to Seek $1.3 Billion for Venture Fund

Peter Thiel’s Founders Fund is seeking to raise $1.3 billion for a venture fund to invest in technology startups, according to a person familiar with the matter.

Founders Fund has closed a portion of the fund as it continues to raise more, said the person, who asked not to be identified because the fundraising isn’t complete. The San Francisco venture firm’s last fund, raised two years ago, totaled $1 billion.