One of Peter Thiel's Founders Fund's first partners is stepping down to an emeritus role.

• On Tuesday, Brian Singerman, a general partner at Founders Fund, announced his resignation after 13 years with the venture firm.
• Anduril is also known for investments in SpaceX, along with defense tech companies.
• Singerman announced on X that he will transition into the role of partner emeritus while remaining as an "investor and strategic advisor."

On Tuesday, it was announced that Brian Singerman, one of the first employees of Peter Thiel's Founders Fund, is stepping down as a general partner.

Singerman, who has been with the firm for 17 years and became a partner four years ago, announced on X that he will be transitioning into the role of partner emeritus while continuing to serve as an "investor and strategic advisor." Singerman is most recognized for his support of the firm's investments in SpaceX and defense-tech companies like Anduril.

Singerman exits the partner ranks at Founders Fund, leaving three general partners: Thiel, Napoleon Ta, and Trae Stephens.

Thiel launched Founders Fund in 2005 and has since made it one of the top venture firms in the country with early investments in SpaceX, Tesla, and other successful companies. Keith Rabois, who previously worked at Khosla Ventures, left Founders Fund earlier this year to return to his former employer.

Singerman wrote in his post that FF has been the place for talented, unconventional thinkers to follow their convictions and make world-changing bets since its inception.

Despite a challenging period for the venture industry, with IPOs declining in late 2021 due to inflation and interest rates, there have been recent indications of a resurgence, with some companies planning to go public next year. However, the highest-valued private companies have not yet disclosed when they will enter the market.

On Monday, Bloomberg reported that SpaceX is considering a tender offer that would increase the company's valuation to $350 billion, an increase from $210 billion earlier this year.

WATCH: SpaceX launches sixth test of Starship rocket