# Anduril Investors Capital map for [[Anduril]] — a **private** company, so this is a cap-table / funding-round page, not a public-shareholder page. For a private defense unicorn, the funding rounds *are* the headline signal: each raise reprices the company and reveals which investors are doubling down. > Anduril discloses round size and valuation but not a full cap table. Per-round detail beyond the figures below lives in [[Musk-Thiel Funding Map]]. Total raised exceeds **$11B** as of mid-2026. ## Valuation trajectory | Round | Date | Raised | Valuation | Lead(s) / notes | |---|---|---|---|---| | [[Anduril Series H]] | May 13, 2026 | $5B | $61B | Led by [[Thrive Capital]] + [[Andreessen Horowitz]] (returning); doubled in ~11 months | | Series G | June 2025 | $2.5B | $30.5B | Led by [[Founders Fund]] ($1B — its largest-ever check); 8x oversubscribed | | Seed → Series F | 2017–2024 | balance of $11B+ | rising | See [[Musk-Thiel Funding Map]] for the full ladder | Revenue context: Anduril roughly **doubled revenue to ~$2.2B in 2025** (from ~$1B in 2024), the operating story underwriting the valuation jumps. ## Key investors The recurring founder-aligned capital network: - [[Founders Fund]] — anchor backer; led Series G with a record $1B check ([[Brian Singerman]], [[Trae Stephens]]) - [[Andreessen Horowitz]] — co-led Series H - [[Thrive Capital]] — co-led Series H - [[General Catalyst]] - [[Lux Capital]] - [[8VC]] — [[Joe Lonsdale]]'s firm (the same Palantir-founder network) - [[Valor Equity Partners]] — Antonio Gracias (Musk-network overlap) - [[In-Q-Tel]] — CIA venture arm (the same government-capital tie seen at [[Palantir]]) - Elad Gil — angel ## IPO watch [[Palmer Luckey]] has publicly confirmed **IPO plans** so Anduril can compete for the largest defense programs as a public company. An S-1 filing would, for the first time, expose the full cap table, board, and financials currently hidden by private status — a high-value future event. Tracked in [[Anduril Calendar]] and [[Anduril Watch Log]]. ## Open questions to track - Timing and structure of any IPO (and what the S-1 reveals). - Next private round / secondary sales and the implied valuation. - Whether sovereign or strategic investors enter the cap table. ## See Also - [[Anduril]] — company page - [[Anduril Dossier]] — dossier front door - [[Anduril Series H]] — latest round (in /Deals/) - [[Musk-Thiel Funding Map]] — full capital ladder - [[Founders Fund]] - [[In-Q-Tel]]