PayPal co-founder Peter Thiel's, Founder's Fund, has gathered up $250 million, in funding.

The company official stated that the company will aid in funding which in turn will favor the strategic investments in innovative technology start-up companies. It is further stated that the investment firm is looking towards developing new technologies in the realms of the internet, science and engineering making the working a better place.

The company added that the money will be directed towards the new Founder's Fund III.

The data proclaimed by the National Venture Capital Association, speaks of funds that have in turn been raised by venture capital funds in Q2 dip by 56 per cent, coming down at $1.9 billion, supposedly the lowest figure since 2003.

The statement released by Founder's Fund co-founder Ken Howery stated: “Despite years of cynicism and low returns in the industry, our companies show that there are compelling opportunities in several categories for bold investors.”