TBC Series C April 2022 raised $675 million at $5.675 billion post-money valuation. Co-leads: Sequoia Capital, Vy Capital. Participating investors: Founders Fund (Peter Thiel), 8VC (Joe Lonsdale, Palantir co-founder), Valor Equity Partners (Musk-ecosystem), plus surface-level real-estate operators Brookfield, Lennar, Tishman Speyer, Dacra.
The Founders Fund + 8VC participation creates a direct overlap with the engine-canonical Palantir / defense-tech cap-table cluster. The real-estate-conglomerate participation physically binds private subterranean infrastructure capability to the entities that control surface-level real estate, bypassing traditional municipal public-works authorities. H2 (operator-class shareholder architecture) CONFIRMED.
Engine Cross-reference: Founders Fund 32 mentions in engine canon, Sequoia 22, Thiel 26, Lonsdale 2, 8VC 3, Brookfield 8. Vy Capital, Valor Equity, Lennar, Tishman were net-new to engine before this audit. Net-new VC entities consistent with the Palantir / Anduril operator-class concentration pattern.