Peter Thiel's Founders Fund taps former Pantera exec Krug as partner

Quick Take

  • Joey Krug has been named a partner at Founders Fund, the VC firm founded by Peter Thiel. 
  • Krug was previously co-chief investment officer at crypto VC firm Pantera, which he first joined in 2017.
  • “I’ll be focused on defining the next decade of Founders Fund’s crypto strategy while looking for the next wave of generational crypto startups and founders to back,” he wrote on Twitter. 

Joey Krug, former co-chief investment officer for Pantera, joined Peter Thiel's Founders Fund as a partner.

Krug announced the move in a Twitter thread earlier today, saying that he'll be working on Founders Fund's crypto investment efforts. Bloomberg reported the news earlier.

It's a notable hire in the world of crypto venture capital. Krug departed Pantera in February after a six-year stint at the VC firm.

"I'll be focused on defining the next decade of Founders Fund's crypto strategy while looking for the next wave of generational crypto startups and founders to back," Krug wrote. 

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Founders Fund was formed in 2005 by a group of PayPal co-founders including Peter Thiel. Its portfolio includes Facebook, AirBNB and SpaceX. Its crypto portfolio includes Ondo Finance and Block Green.

Founders Fund drew headlines in January after it netted nearly $2 billion from sales of its bitcoin holdings in 2022, according to a Financial Times report at the time.


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