early 14c., from Old French fondrer "collapse; submerge, sink, fall to the bottom," from fond "bottom," from Latin fundus "bottom, foundation" (see fund (n.)). Related: Foundered; foundering.
"one who establishes, one who sets up or institutes something," mid-14c., from Anglo-French fundur, Old French fondeor, from Latin fundator, agent noun from fundare (see found (v.1)).