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Flexport’s Ryan Petersen joins venture firm Founders Fund as a partner
July 19, 2023

Flexport’s Ryan Petersen joins venture firm Founders Fund as a partner

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Flexport founder Ryan Petersen has joined venture capital firm Founders Fund as a partner, as reported by Forbes earlier today.

Petersen — who stepped down as CEO of Flexport last August — himself acknowledged the move on Twitter, with a tweet saying:

Petersen founded Flexport, a logistics startup that raised $2.4 billion in funding since its 2013 inception, according to Crunchbase. Founders Fund was an early investor in the company, which last raised in February of 2022 — a $935 million Series E co-led by Andreessen Horowitz (a16z) and MSD Partners that valued the company at $8 billion. Founders Fund participated in that round as well.

The new role won’t be a huge leap for Petersen considering that over the years, he has backed as an angel investor over 100 startups, such as Rippling, Mercury, Faire, Eight Sleep, Carta and Pulley. He will be based in San Francisco and invest as a ‘generalist’ for Founders Fund.   

He wrote via email: ‘I’m interested in innovative companies regardless of their stage or industry.’

Petersen and his brother, David, came up with the idea for Flexport in 2008 when they were running Petersen then went through Y Combinator in the Winter 2013 batch. He transitioned into the role of executive chairman on March 1.

Interestingly, Founders Fund also last September reported that fintech startup Brex’s former chief revenue officer, Sam Blond, was becoming a partner at Founders Fund.

Reporter’s note: This story was updated post-publication to include comments from Petersen and revised figures of the number of companies he has invested in.


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