How Founders Fund's chief operating officer Lauren Gross got the job - Business Insider

The firm's new head of fundraising would need to find a more compelling pitch to raise that kind of money back in 2010.

Cyan Bannister, a former partner at Founders Fund, stepped down from a portfolio company's board when the other directors moved to remove its founder.— bigger than all of its previous funds combined — in 2010. The effort required a lot of cold calls to potential limited partners and a good deal of research, she admitted.

With its deep coffers, Founders Fund has the means to invest in its portfolio companies at later stages, when most of the risk is wrung out of the deal. The firm confirmed it's written checks for more than $100 million into Airbnb, Stripe, SpaceX, Palantir, Affirm, Stemcentrx, and Wish, to name a few unicorn startups.Gabrielle Lurie/Reuters

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