{"id":2737,"date":"2025-07-15T00:26:10","date_gmt":"2025-07-15T00:26:10","guid":{"rendered":"https:\/\/jobuzo.com\/en\/brian-singermans-new-fund-has-a-twist-and-peter-thiel-as-a-big-backer\/"},"modified":"2025-07-15T00:26:10","modified_gmt":"2025-07-15T00:26:10","slug":"brian-singermans-new-fund-has-a-twist-and-peter-thiel-as-a-big-backer","status":"publish","type":"post","link":"https:\/\/jobuzo.com\/en\/brian-singermans-new-fund-has-a-twist-and-peter-thiel-as-a-big-backer\/","title":{"rendered":"Brian Singerman\u2019s new fund has a twist, and Peter Thiel as a big backer"},"content":{"rendered":"
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Former Founders Fund GP Brian Singerman and co-founder and managing partner of Quiet Capital, Lee Linden, are seeking over $500 million for a new fund called GPx, three people familiar with their strategy told TechCrunch. A significant portion of GPx’s fund, potentially as much as 50%, will come from Founders Fund co-founder Peter Thiel, these people said.<\/p>\n

GPx uses a two-pronged strategy. The firm will invest approximately 20% of the capital into funds managed by emerging VCs who are targeting pre-seed and seed-stage startups; the remaining capital will go toward partnering with emerging managers on leading later-stage investments (most likely at Series B) of their breakout companies. <\/p>\n

It’s a fairly different approach compared with how most venture firms operate. While typical VC firms invest all of their capital directly into startups, GPx is adopting elements of what’s known as a fund-of-funds model, a less common investment strategy where a firm invests some portion of its capital into a portfolio of other funds, rather than directly in underlying assets, such as startups. While a fund-of-funds offers limited partners a convenient way to access under-the-radar or hard-to-access firms, a significant drawback is the dual layer of fees: those charged by the fund-of-funds and those by the underlying managers.<\/p>\n

While capital raised by fund-of-funds firms hit a 16-year low last year, according to PitchBook, Singerman and Linden are betting that their personal brands, unique networks, and a strategy that’s only partially a fund-of-funds will encourage limited partners to open their checkbooks for GPx.<\/p>\n

Singerman and Linden may be on to something. As venture capital concentrates in the largest funds, some of those firms’ best investors are no longer interested in being a part of a big machine. They are leaving the behemoth firms to launch their own investing outfits where they can be more nimble and specialized.<\/p>\n

GPx is betting that the next generation of VC investors will identify and back many strong early-stage companies, allowing Singerman and Linden’s firm to co-lead later-stage investments in the emerging managers’ most successful portfolio companies.<\/p>\n

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Here’s where GPx’s strategy becomes particularly valuable: Early-stage VCs often try to exercise pro-rata rights in later funding rounds (Series A, B, and beyond), but their fund sizes typically prevent them from maintaining their percentage ownership in top-performing companies. When faced with such opportunities, small VCs often scramble to raise special purpose vehicles (SPVs) from their existing limited partners. Yet, these processes are time-consuming, allowing other investors to snap up coveted equity spots in the most sought-after deals.<\/p>\n

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Techcrunch event<\/p>\n

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\n\t\t\t\t\t\t\t\t\tBoston, MA<\/span>
\n\t\t\t\t\t\t\t\t\t\t\t\t\t|<\/span>
\n\t\t\t\t\t\t\t\t\t\t\t\t\tJuly 15<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<\/div>\n<\/div>\n

With GPx’s capital behind them, emerging funds will have an opportunity to not only exercise their pro-rata rights but also lead a later-stage round.<\/p>\n

The Information previously reported that Singerman and Linden are launching GPx, but didn’t provide details about the fund’s target size and other strategy details.<\/p>\n

Singerman and Linden didn’t respond to a request for comment.<\/p>\n<\/div>\n

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Brian Singerman’s new fund has a twist, and Peter Thiel as a big backer<\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

Former Founders Fund GP Brian Singerman and co-founder and managing partner of Quiet Capital, Lee Linden, are seeking over $500 million for a new fund called GPx, three people familiar with their strategy told TechCrunch. A significant portion of GPx’s fund, potentially as much as 50%, will come from Founders Fund co-founder Peter Thiel, these…<\/p>\n

Read More “Brian Singerman\u2019s new fund has a twist, and Peter Thiel as a big backer”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":2738,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/posts\/2737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/comments?post=2737"}],"version-history":[{"count":0,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/posts\/2737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/media\/2738"}],"wp:attachment":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/media?parent=2737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/categories?post=2737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/tags?post=2737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}