Founders Fund just lost one of its founders. Luke Nosek, known for starting PayPal with Elon Musk, Peter Thiel, Max Levchin and Ken Howery, is off to start something new.
Known as the states members of the PayPal Mafia, Nosek has stayed in contact with Musk as a director of SpaceX, the space exploration company. As Axiosfirst reported, hes launching an investment firm called Gigafundthatwill reportedly aid Musks SpaceX elevate capital.
It isnt clear if Nosek played a role in a new $350 million round of funds for SpaceX that was discovered in public filings earlier this week by theEquidate, a marketplace for private company stock.
Nosek was unable to comment for this story.
A Form D filingfrom Thursday been suggested that $100 million has been allocated for Gigafund. Stephen Oskoui, who also ran at Founders Fund, is listed on the form.
Founders Fund spouse Brian Singerman issued the following statement about Noseks newest gig. Luke is leaving Founders Fund to launch a new endeavor. His unwavering commitment to entrepreneurs and ardour for engineering shaped the founding ethos of Founders Fund. We are grateful for his contributions and we wish him well.
Space exploration is plainly a capital-intensive business, so it sounds like Nosek is attaining it his priority to assist right now. According to the Axios story, Gigafund will initially will be focused on creating capital for SpaceX. It remains to be seen on what else it will focus.
SpaceX furnished the following comment.While we wish Luke well in his new endeavors, there is no secure of future investment apportionings inSpaceXor any other companies associated with Elon.
SpaceX has already raised $1.5 billion to date.In addition to Founders Fund, Google and DFJ are among its known investors.
CubeSats, a type of research spacecraft, are also being built at other startups in Silicon Valley. Planet has raised over $ 180 million in funding for its space satellites .