Flexport's former CEO Ryan Peterson has joined Founders Fund, the San Francisco-based venture capital firm co-founded by Peter Thiel, as a partner.
Petersen will also remain the executive chairman of San Francisco-based Flexport, which he co-founded ten years ago and which Founders Fund has backed since the company's Series A in 2015. Forbes first reported the new on Monday.
He stepped down as the chief executive of Flexport last year and was succeeded by former Amazon executive Dave Clark.
"I have joined Founders Fund," Peterson tweeted on Monday. "If you are someone who’s out to get revenge after having been wronged by a previous employer or investor, a French technical founder who fled socialism to build your company in America, or a Christ-like figure of any kind, please get in touch."
Petersen has already cut dozens of checks to startups as an angel investor since 2013, according to PitchBook.
According to Forbes, his personal investments have reached 150 in total, and now through Founders Fund, Petersen will focus on making both early- and growth-stage investments.
“I have a pretty good track record, but we probably need to throw it out because it’s a very different style of investing,” Petersen told Forbes. “I’m going to be a bit of a rookie here, trying to learn from all of them.”
Peter Thiel launched Founders Fund in 2005 with fellow Pay Pal co-founders Ken Howery and Luke Nosek, though the latter two are no longer with the firm.
The firm has also previously counted other notable founders among the ranks of its partners including Napster co-founder and former Facebook president Sean Parker.
Founders Fund currently has $11 billion of assets under management, according to PitchBook. Its portfolio includes SpaceX, Palantir, Facebook, Airbnb, Flexport, Wish, Stripe, Eat Just and Ripple. It also previously backed The Athletic, Blend, Affirm, Rigetti, Planet Labs and Postmates.
