Peter Thiel's venture capital firm, Founders Fund, known for managing over $12 billion in assets, has recently invested in the crypto accelerator Alliance. While the exact size of the investment remains undisclosed, Alliance referred to it as a "strategic long-term investment" made by Founders Fund. Imran Khan, co-founder of Alliance, confirmed that the transaction took place in October, with finalization of partnership details occurring in January.

Although Founders Fund's involvement was already listed on Alliance's website about two months ago, the news is now publicly disclosed. According to Khan, Founders Fund holds a minority stake in Alliance, although he refrained from specifying the exact percentage.

In regards to the investment, Founders Fund intends to provide support to Alliance's portfolio companies. Joey Krug, a partner at Founders Fund, emphasized their belief in the necessity of crypto-specific accelerators and their preference to support Alliance rather than establishing their own accelerator. Krug highlighted their role as a resource for Alliance companies and expressed anticipation for investing in promising startups from the program.

Founders Fund's investment coincides with Alliance's ongoing fundraising for its third fund, Alliance Fund III. Recently, Brevan Howard Digital and Galaxy Digital each invested $10 million in the first close of Fund III, with the goal of raising an additional $80 million by July. Khan clarified that while Founders Fund has taken a stake in Alliance, it has not invested in Alliance's funds directly.

Apart from Founders Fund, Initialized, another venture capital firm with over $3 billion in assets under management, also holds a minority stake in Alliance since 2022. Alliance, established in 2020, has accelerated 12 cohorts comprising over 200 startups. Notable projects in its portfolio include Arbitrum, Immutable X, Axie Infinity, and Tensor. Alongside Founders Fund, other investors in Alliance include Mark Cuban, Jump Capital, Anatoly Yakovenko (co-founder of Solana Labs), and Cuy Sheffield (Visa's head of crypto).