Founders Fund has closed close to $6 billion for its latest growth fund, sources said.

Peter Thiel’s Founders Fund is nearing the close of its fourth growth fund, Founders Fund Growth IV, with $6 billion in capital commitments, per company sources. As with most corporate financings, demand from outside investors exceeds the fund’s capacity, the source said. One of the sources also told TechCrunch that about $1.5 billion of the capital is coming from the Founders Fund’s partners.

The new fundraising comes less than a year after the Founders Fund closed its third growth fund, a $4.6 billion fund designed primarily to make follow-on investments in successful later-stage companies.

The 21-year-old company has an impressive startup portfolio. Founders Fund was an early investor in AI cloud computing company Crusoe, talent management platform Rippling, and fintech companies Stripe and Ramp.

The company was also the first institutional investor in data analytics giant Palantir Technologies and has stakes in numerous other defense technology companies, including SpaceX, Flock Safety, and Anduril, co-founded by Founders Fund partner Trae Stephens and backed by the company in its first seed round. (Nine-year-old Anduril is currently reportedly raising a massive $4 billion in funding at a $60 billion valuation.)

Founders Fund’s growth-stage capital ambitions are not limited to its existing portfolio.

Last month, for example, the San Francisco-based company made its first direct investment in Anthropic. Founders Fund co-led a $30 billion investment in leading AI research labs at a post-money valuation of $380 billion, along with DE Shaw Ventures, Dragoneer, ICONIQ and MGX. With this investment, Founders Fund becomes one of the few companies to hold significant stakes in both major AI labs and is also an investor in OpenAI.

Founders Fund has been aggressively raising growth capital, but the company has not raised a new early-stage fund since early 2022, when it announced its eighth early-stage fund with $1.8 billion in capital commitments.

In 2023, the company responded to the worsening situation by halving that funding to $900 million. Founders Fund redistributed the remaining $900 million to a separate early-stage fund that officially launched last October, according to regulatory filings.

Founders Fund declined to comment.