Thiel starts Mithril Capital with $402 mln fund
With the founding of Mithril Capital Management, investor and Pay Pal co-founder Peter Thiel is setting his sights on another investment strategy: growth venture-capital.
The $402 million fund will focus on later-stage technology-oriented companies that tap large markets, such as energy or disease, according to a spokesman and a statement from the firm. Traditional venture capital backs companies at early stages.
Ajay Royan, who was formerly managing director at Thiel's Clarium Capital hedge fund, will lead the Mithril team. Partners include Royan, Thiel, and Jim O'Neill, the co-founder of the 20 under 20 Thiel Fellowships for promising young entrepreneurs.
Thiel also started Founders Fund in 2005 to focus on early-stage investments.
In J.R. Tolkien's books, including "Lord of the Rings," mithril is a strong, lightweight metal mined by dwarfs.
This article is copyrighted by Reuters
Join the Conversation