Flexport founder Ryan Petersen joins VC firm

Flexport founder Ryan Petersen is changing sides, becoming a partner of venture capital firm Founders Fund.

The fund is a leading investor in Flexport, of which Mr Petersen will remain executive chairman.

The fund was founded by Peter Thiel, who told Flexport’s favourite media outlet, Forbes, that Mr Petersen would be “an investor everyone wants on their team”. Another partner said Mr Petersen was a “titan”, “one of the most important figures in tech for our generation”.

When Mr Petersen, 42, resigned as CEO to make way for Amazon’s Dave Clark, he said he “tried hanging out”, but realised he wanted to work harder – albeit not via another start-up. But he admitted he would be a “rookie” at the fund.