Peter Thiel’s Founders Fund raising $3 bln: Wall Street Journal

Peter Thiel’s venture capital firm is raising $3 billion for two funds, including its first dedicated pool for late stage companies, the Wall Street Journal reported. Founders Fund typically backs early-stage companies but as the firm’s biggest winners are staying private longer, the VC is looking to make larger investments at later stages of a company’s lifetime to maintain comparable stakes and a say in company operations, the story said.