Peter Thiel, best known as the co-founder of PayPal and an early investor in Facebook, announced Tuesday night that Mithril Capital Management is seeking out growth equity opportunities. The new fund has over $400 million under management.
Mithril focuses on later-stage global technology entrepreneurs, companies that are beyond the usual stage to receive this type of investment but which prefer to remain private, and works with them in a long-term strategic relationship.
Thiel is Mithril’s co-founder and chairman of its investment committee. Ajay Royan, co-founder and managing general partner, serves on the investment committee and leads the Mithril team.
“Many great inventions are driven by a spirit of dissent and curiosity,” said Royan. “Mithril companies, if we’re right, will foment changes that will seem inevitable after they happen.”
Jim O’Neill, the former principal associate deputy secretary of health and human services will also be a partner in Mithril.
Thiel, Royan and O’Neill have experience working with each other, most notably at global macro fund Clarium.
“Technology holds solutions to most of the world’s most pressing challenges, from resource scarcity to disease. Solving an intractable problem may require a decade of work, but a lifetime of vision,” said Thiel. “Mithril will play a patient, focused, and pivotal role in helping the world’s most outstanding creative minds and build lasting companies that change the world.”
Mithril – press release
Bloomberg – Peter Thiel opens new firm to fund tech startups
Encyclopedia of Arda – definition of mithril