Entrepreneurs Bryan Singleman (right) and Noel Mosley arrive at the 10th Annual Breakthrough Awards at the Academy Museum of Motion Pictures on April 13, 2024 in Los Angeles, California.
Etienne Laurent | AFP | Getty Images
Brian Singerman, one of the earliest employees of the Peter Thiel Founder Foundation, said Tuesday that he will step down as general partner.
Zingerman joined the firm 17 years ago and became a partner four years later, he wrote in an article Post on X He will serve as an honorary partner and will continue to serve as an “investor and strategic advisor.” Zingerman is known for backing the company’s investments in defense technology companies such as Elon Musk’s SpaceX and Anduril.
After stepping down as a partner, Zingerman left Founders Fund to three general partners: Thiel, Napoleon Ta and Trae Stephens.
Thiel helped found Founders Fund in 2005 and used his early investments in Founders Fund to grow it into one of the leading venture capital firms in the United States. FacebookSpaceX and Palantirwhich he co-founded. Keith Labois Left the company earlier this year and returns to Khosla Ventures, where he worked before joining Thiel.
“From its inception to today, FF has been a place where brilliant, unconventional thinkers are encouraged to follow their beliefs and make bets that change the world,” Zingerman wrote in his post.
It’s been a rough few years for the venture capital industry, with IPOs all but drying up in late 2021 due to rising inflation and interest rates at the time. There have been some signs of recovery recently, with some companies saying they plan to go public next year, but the most highly valued private companies have yet to say when they will test the market.
Bloomberg reports SpaceX is considering a takeover bid on Monday that would value the rocket company to $350 billion, up from $210 billion earlier this year.
watch: SpaceX conducts sixth test of Starship rocket
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