On May 3, sources revealed that Founders Fund, the venture capital firm founded by Silicon Valley investor Peter Thiel, has raised $6 billion to invest in late-stage companies, marking the largest fundraising in the firm's history. Most of the funds—$4.5 billion—come from limited partners, including sovereign wealth funds. According to an insider, the remaining $1.5 billion comes from senior management and employees of Founders Fund, including Peter Thiel himself. The fourth growth-stage investment fund was quickly assembled less than a year after the launch of the previous fund, representing the fastest transition to a new fund in Founders Fund's twenty-year history. The rapid launch of a larger fund reflects the increasing demand for substantial financing from mature-stage startups, which are increasingly inclined to raise funds from private investors rather than the public market. Other venture capital firms are also raising billions for late-stage investments, partly due to the need for technology companies to secure more funds to cover expensive computing resources. For instance, Sequoia Capital recently raised about $7 billion for a new fund to increase investments in large companies, while Thrive Capital has also raised a $10 billion fund, marking its largest fund to date.