ISSUE – Aug. 19 | Founders Fund’s Geoff Lewis Leaves to Start His Own Fund

Geoff Lewis, a partner at Founders Fund, is leaving to start his own fund, according to two people who have been briefed on the situation. Lewis is the second partner to depart in recent months from the fund, launched 12 years ago by PayPal co-founder Peter Thiel. Luke Nosek left to start an investment fund called Gigafund that will help Space Exploration Technologies Corp., the rocket company founded by Elon Musk, raise money. Lewis intends to raise more than $100 million for the new fund, a person familiar with the matter said. Founders, a venture capital fund based in San Francisco, will be an anchor investor, said one of the people, who asked not to be identified because the move hasn’t been announced. [ Bloomberg ]