# Trae Stephens, Partner at Founders Fund > Trae Stephens, Partner at Founders Fund. 2 investments on record. The rounds they were named in and the filings that name them, each with its source. Source: https://millionrounds.com/person/trae-stephens (Millionrounds; every figure on the page links to its filing or article) San Francisco, US · Partner # Trae Stephens Partner at [Founders Fund](https://millionrounds.com/fund/founders-fund) Latest rounds - **Outtake** Series B · $40M Jan 2026 Backs *AI* *Cybersecurity* Profile summary - **Rounds named:** 2 last Jan 2026 - **Filings:** 6 with regulators - **Podcasts:** 6 +5 mentions What this record rests on - ✓ **Named in rounds** 2 rounds name them - ✓ **On filings** 6 filings with a regulator - ✓ **Linked to a firm** At Founders Fund - **Claimed** Not claimed yet Titles come from filings their firm signed. [Correct or remove](https://millionrounds.com/corrections?person=trae-stephens)[Is this you? Claim it](https://millionrounds.com/claim?person=trae-stephens) ## The firm [**Founders Fund** VC firm · US **161** cheques in 12 months **1120** all time **42** led deploying](https://millionrounds.com/fund/founders-fund) ## Rounds they were named in - **Rounds:** 1 - **Led:** 0 - **Disclosed:** $40M - **Active:** 2026 2026 - [Outtake](https://millionrounds.com/company/outtake) *Series B* **$40M** *US* Jan 2026 Joined · +11 investors By stage - Series B **1** What they backed AI **1** Cybersecurity **1** Alongside - [Bill Ackman *1*](https://millionrounds.com/fund/bill-ackman) - [Bob McGrew *1*](https://millionrounds.com/fund/bob-mcgrew) - [CRV *1*](https://millionrounds.com/fund/crv) - [Guillermo Rauch *1*](https://millionrounds.com/fund/guillermo-rauch) - [IQ Capital *1*](https://millionrounds.com/fund/iq-capital) - [Iconiq *1*](https://millionrounds.com/fund/iconiq-capital) - [John Donovan *1*](https://millionrounds.com/fund/john-donovan) - [Nikesh Arora *1*](https://millionrounds.com/fund/nikesh-arora) Rounds where a report named this person rather than a firm, matched on name: read it as a strong hint, not proof, since people share names. ## Companies they are listed as backing Portfolio - [AI Foundation](https://millionrounds.com/company/ai-foundation) - [Affirm](https://millionrounds.com/company/affirm) - [Alloy Therapeutics](https://millionrounds.com/startup/alloy-therapeutics-inc) - [Anduril Industries](https://millionrounds.com/company/anduril-industries) - [Ayar Labs](https://millionrounds.com/company/ayar-labs) - [Belvo](https://millionrounds.com/company/belvo) - [Bunch](https://millionrounds.com/company/bunch) - [Bungalow](https://millionrounds.com/company/bungalow) - [COMPASS Pathways](https://millionrounds.com/startup/compass-pathways) - [Carbyne](https://millionrounds.com/startup/carbyne-2) - [Cedar](https://millionrounds.com/startup/cedar-3) - [Clara Health](https://millionrounds.com/startup/clara-health) - [Crusoe Energy Systems](https://millionrounds.com/company/crusoe-energy-systems) - [Density](https://millionrounds.com/startup/density-2) - [DoNotPay](https://millionrounds.com/company/donotpay) - [Eco](https://millionrounds.com/startup/eco) - [Even.com](https://millionrounds.com/startup/even-com) - [Expanse](https://millionrounds.com/startup/expanse-3) - [Faire](https://millionrounds.com/company/faire) - [Figma](https://millionrounds.com/company/figma) - [Formatech](https://millionrounds.com/startup/formatech) - [Forward](https://millionrounds.com/startup/forward-9) - [Garner Health](https://millionrounds.com/company/garner-health) - [Gecko Robotics](https://millionrounds.com/company/gecko-robotics) - [HeartLab](https://millionrounds.com/startup/heartlab-2) - [HelloOffice](https://millionrounds.com/company/hellooffice) - [Hoxton Farms](https://millionrounds.com/startup/hoxton-farms) - [IRL](https://millionrounds.com/company/irl) - [ISEE](https://millionrounds.com/company/isee) - [Kargo](https://millionrounds.com/company/kargo) - [Kavak](https://millionrounds.com/company/kavak) - [Lattice](https://millionrounds.com/company/lattice) - [LeafLink](https://millionrounds.com/company/leaflink) - [Literati](https://millionrounds.com/company/literati) - [Luko](https://millionrounds.com/startup/luko-2) - [MADE](https://millionrounds.com/startup/made) 36 of 88 companies. ## Where they are named on record Filings - SEC Form D · Venture Capital fund **[Founders Fund](https://millionrounds.com/fund/founders-fund)** Managing Member of the Issuers' General Partner since 2026 - SEC Form D · Venture Capital fund **[Founders Fund](https://millionrounds.com/fund/founders-fund)** Managing Member of the General Partner of the Issuers since 2025 - SEC Form D · Venture Capital fund **[Founders Fund](https://millionrounds.com/fund/founders-fund)** Managing Member of the Issuer's General Partner since 2025 - SEC Form D · Venture Capital fund **[Founders](https://millionrounds.com/fund/founders)** Managing Member of the General Partner of the Issuer since 2023 - SEC Form D · Company raising **Varda Space Industries, Inc.** Director on 2 filings · since 2021 - SEC Form D · Company raising **Flexport, Inc.** Director on 2 filings · since 2019 Each row is a document a firm filed with a regulator: somebody signed it, and it carries a date. ## Also at Founders Fund - [**Peter Thiel** Partner *93 rounds*](https://millionrounds.com/person/peter-thiel-2) - [**Brian Singerman** Partner *3 rounds*](https://millionrounds.com/person/brian-singerman) - [**Bruce Gibney** Partner *3 rounds*](https://millionrounds.com/person/bruce-gibney) - [**Ken Howery** U.s. Ambassador to the Kingdom of Denmark *2 rounds*](https://millionrounds.com/person/ken-howery) - [**Delian Asparouhov** Partner *1 round*](https://millionrounds.com/person/delian-asparouhov) - [**Geoff Lewis** Team *1 round*](https://millionrounds.com/person/geoff-lewis-2) - [**Scott Nolan** Partner *1 round*](https://millionrounds.com/person/scott-nolan) - [**Aaron VanDevender** Principal *0 rounds*](https://millionrounds.com/person/aaron-vandevender) ## Hear them before you pitch them - [TBPN](https://millionrounds.com/podcasts/tbpn) · 31 Jul 2026 · 1h 58m Leopold is Back! Big Tech Earnings, Defense Tech Deep Dive | Richard Craib, Trae Stephens, Blake Resnick With [Richard Craib](https://millionrounds.com/person/richard-craib)[Trae Stephens](https://millionrounds.com/person/trae-stephens) Mentions [Founders Fund](https://millionrounds.com/fund/founders-fund) About this episode (00:27) - Leopold is Back! (29:21) - Big Tech Earnings (32:45) - Richard Craib is a mathematician, AI researcher, and founder of Numerai, an AI-driven quantitative hedge fund. Richard Craib discusses the distinction between genuine alpha and returns driven by concentrated risk, arguing that… More on the show's page Listen on Apple PodcastsThe show's page - [Grit](https://millionrounds.com/podcasts/grit) · 18 May 2026 · 56 min What It Takes to Build a Generational Company | Anduril’s Trae Stephens With [Trae Stephens](https://millionrounds.com/person/trae-stephens) Mentions [Founders Fund](https://millionrounds.com/fund/founders-fund) About this episode Founder quality becomes more important as startups become easier to build. Trae Stephens, co-founder of Anduril and partner at Founders Fund, has spent years backing founders with strong conviction, including most recently at Roadrunner. He shares why too much capital too early can hurt startups,… More on the show's page Listen on Apple PodcastsThe show's page - [Sourcery](https://millionrounds.com/podcasts/sourcery) · 18 Dec 2025 · 32 min Inside Anduril HQ: Trae Stephens on Anduril’s Origin, Peter Thiel, & Palantir DNA With [Trae Stephens](https://millionrounds.com/person/trae-stephens) Mentions [Peter Thiel](https://millionrounds.com/fund/peter-thiel)[Founders Fund](https://millionrounds.com/fund/founders-fund) About this episode Trae Stephens, Co-Founder & Executive Chairman of Anduril, & Partner at Founders Fund, joins Sourcery for a behind-the-scenes conversation on Anduril’s 2017 founding, when defense tech was deeply unpopular in Silicon Valley, the cultural shift that followed, and how software, autonomy,… More on the show's page Listen on Apple PodcastsThe show's page - [Sourcery](https://millionrounds.com/podcasts/sourcery) · 15 Dec 2025 · 39 min Inside Anduril: Exclusive HQ Tour w/ Palmer Luckey, Brian Schimpf, Matt Grimm & Trae Stephens With [Brian Schimpf](https://millionrounds.com/person/brian-schimpf)[Matt Grimm](https://millionrounds.com/person/matt-grimm)[Trae Stephens](https://millionrounds.com/person/trae-stephens) Mentions [Palmer Luckey](https://millionrounds.com/fund/palmer-luckey) About this episode This is a rare, behind-the-scenes walking tour & sit-down interview inside Anduril Industries, a $30.5B defense technology company that develops and sells autonomous systems, AI-powered software, and advanced hardware for military and security applications to protect US and allied forces.. one of… More on the show's page Listen on Apple PodcastsThe show's page - [Uncapped](https://millionrounds.com/podcasts/uncapped) · 3 Dec 2025 · 52 min Uncapped #35 | Trae Stephens from Founders Fund With [Trae Stephens](https://millionrounds.com/person/trae-stephens) Mentions [Founders Fund](https://millionrounds.com/fund/founders-fund) About this episode Trae Stephens is a Partner at Founders Fund. He is also Co-founder and Executive Chairman of Anduril, a defense tech company focused on autonomous systems, and Co-founder of Sol, a next generation wearable e-reader. Previously, Trae was an early employee at Palantir Technologies, where he led teams… More on the show's page Listen on Apple PodcastsThe show's page - [The Generalist](https://millionrounds.com/podcasts/the-generalist) · 20 May 2025 · 1h 27m How Anduril Is Reimagining the Defense Industry: Faster Tech, Ethical AI, and a New Kind of Deterrence (Trae Stephens, Co-Founder & Executive Chairman of Anduril) With [Trae Stephens](https://millionrounds.com/person/trae-stephens) About this episode What happens when you apply Silicon Valley’s speed and innovation to reinvent defense technology? Trae Stephens, co-founder of Anduril, is running that experiment in real-time. His company creates software-driven, hardware-enabled autonomous systems designed to transform national security… More on the show's page Listen on Apple PodcastsThe show's page ### Mentioned in Episodes that name Trae Stephens in their description, which is not the same as being on them. - [Uncapped](https://millionrounds.com/podcasts/uncapped) · 30 Jun 2026 · 1h 12m Uncapped #53 | Trae and Delian from Founders Fund Mentions [Founders Fund](https://millionrounds.com/fund/founders-fund)[Keith Rabois](https://millionrounds.com/fund/keith-rabois)[Khosla Ventures](https://millionrounds.com/fund/khosla-ventures)[Y Combinator](https://millionrounds.com/fund/y-combinator)[Delian Asparouhov](https://millionrounds.com/person/delian-asparouhov)[Trae Stephens](https://millionrounds.com/person/trae-stephens) About this episode Trae Stephens is a Partner at Founders Fund and co-founder and Executive Chairman of Anduril Industries, a defense technology company building autonomous systems for the U.S. military and its allies. As of May 2026, Anduril is valued at $61 billion. Prior to co-founding Anduril, Trae was an early… More on the show's page Listen on Apple PodcastsThe show's page - [Sourcery](https://millionrounds.com/podcasts/sourcery) · 11 Jun 2026 · 51 min Brian Singerman: "If SpaceX Didn't Work, Founders Fund Wouldn't Exist" With [Brian Singerman](https://millionrounds.com/person/brian-singerman) Mentions [Founders Fund](https://millionrounds.com/fund/founders-fund)[Max Levchin](https://millionrounds.com/fund/max-levchin)[Palmer Luckey](https://millionrounds.com/fund/palmer-luckey)[Peter Thiel](https://millionrounds.com/fund/peter-thiel)[Cyan Banister](https://millionrounds.com/person/cyan-banister)[Scott Nolan](https://millionrounds.com/person/scott-nolan) About this episode Brian Singerman spent 17 years at Founders Fund, where he helped drive large concentrated investments into companies like SpaceX, Palantir, Airbnb, Stripe, Stemcentrx, Anduril, and Affirm. He recently left to co-found GPx, a new fund backing emerging managers. In this episode we break down the… More on the show's page Listen on Apple PodcastsThe show's page - [All-In](https://millionrounds.com/podcasts/all-in) · 6 Apr 2026 · 1h 9m The Companies Changing Warfare Forever: Palantir & Anduril Execs on Drones, AI & the Future of War Mentions [Shyam Sankar](https://millionrounds.com/fund/shyam-sankar)[Trae Stephens](https://millionrounds.com/person/trae-stephens) About this episode (0:00) Friedberg Intros Palantir's Shyam Sankar and Anduril's Trae Stephens (0:56) Palantir Origins: CIA Analyst Joins 20-Person Startup (2:54) War, Deterrence & Silicon Valley's Defense Tech Taboo (8:39) US vs China: Drone Gap, Shipbuilding & 2027 Taiwan Threat (12:27) Anduril's Arsenal-1… More on the show's page Listen on Apple PodcastsThe show's page - [Sourcery](https://millionrounds.com/podcasts/sourcery) · 17 Dec 2025 · 35 min Full Anduril R&D Tour: Matt Grimm, Co-Founder & COO With [Matt Grimm](https://millionrounds.com/person/matt-grimm) Mentions [Palmer Luckey](https://millionrounds.com/fund/palmer-luckey)[Brian Schimpf](https://millionrounds.com/person/brian-schimpf)[Trae Stephens](https://millionrounds.com/person/trae-stephens) About this episode Matt Grimm, Co-Founder & COO of Anduril, walks us through Anduril’s headquarters in Costa Mesa, a rare, and possibly first look, inside the physical systems that turn ideas into fielded products. We tour Building A, a 200,000 sq ft R&D facility with machine shop, composites, metrology, electronic… More on the show's page Listen on Apple PodcastsThe show's page - [Sourcery](https://millionrounds.com/podcasts/sourcery) · 21 Mar 2025 · 1h 11m SpaceX, Stripe, X, Ramp, Anduril: Navigating Liquidity in Private Markets Mentions [Christian Garrett](https://millionrounds.com/person/christian-garrett)[Trae Stephens](https://millionrounds.com/person/trae-stephens) About this episode Molly O'Shea speaks with Christian Garrett, Partner at 137 Ventures. Christian shares his insights on the current state of private markets, the mechanics of high profile secondaries, and the growing liquidity squeeze faced by VCs. We also take a closer look at SpaceX's financing history, how 137… More on the show's page Listen on Apple PodcastsThe show's page Episodes of [the shows we follow](https://millionrounds.com/podcasts), matched by name. Not them? [Tell us](https://millionrounds.com/corrections?person=trae-stephens). ## Find people like Trae Filter every partner and angel by firm, kind, market and whether we watched them invest. Free with an account. Search people[How we know what we know](https://millionrounds.com/methodology)