Algund was originally one of the people of Dor-lómin and had lived for a time under the lordship of Húrin Thalion. At the time of the great battle of the Nirnaeth Arnoediad, Algund fled from his homeland, and travelled down the Vales of Sirion. Eventually, he fell in with a band of outlaws, the Gaurwaith, who haunted the woodlands of Brethil on the western borders of Doriath. Algund was the oldest of the Gaurwaith.
Late in his life, Algund saw a new member join the band, and eventually come to lead it. This was Túrin Turambar, Húrin's son, who had exiled himself from the land of his foster-father Thingol. According to some versions of the tale, Algund was able to recognise the newcomer from his resemblance to his father. No record exists of Algund's fate: most likely, he was slain just a few years after the coming of Túrin, when the outlaws were ambushed by Orcs on the summit of Amon Rûdh.