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Peter Thiel is at it again.
The venture capitalist and hedge fund manager is launching a $402 million venture capital fund that is focusing on mid-stage technology companies looking to grow, but stay private while doing so.
The new firm is called Mithril Capital and is based in San Francisco. Thiel, who founded the Clarium Capital hedge fund, is the largest individual investor, and chairman of the firm’s investment committee.
“Technology holds the solution to most of the world’s most pressing challenges, from resource scarcity to disease. A great achievement may require a decade of work, but a lifetime of vision,” Thiel said in a statement. “Mithril will play a patient, focused and pivotal role in helping the world’s most outstanding creative minds solve vexing problems and build lasting companies.”
Thiel will run the firm with Ajay Royan, co-founder and managing general partner. Royan will serve on the investment committee and leads the Mithril team.
Thiel, who was co-founder of PayPal and an early investor in Facebook , is no stranger to the venture capital community and is an advocate of getting young entrepreneurs to pursue the start-up path.
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