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PayPal cofounder launches venture capital firm, eyes tech start-ups

Ben Margot/AP

Peter Thiel, the billionaire early investor in Facebook and co-founder of PayPal and Palantir Technologies, has launched a new venture capital firm, with an eye on backing technology start-ups.

San Francisco-based Mithril Capital Management LLC, is interested in growth-stage companies that have moved beyond the traditional venture-backed stage but would prefer to remain private as they mature, the firm announced.

Thiel co-founded Palantir, which provides tools to help intelligence and defense agencies analyze and visualize their data.  He manages the Founders Fund, a venture capital fund that has invested in SpaceX, the spaceflight company behind the first commercial vehicle in history to attach to the International Space Station.

The firm currently has over $400 million under management, the New York Times DealBook reports. It will be run by hedge fund Clarium Capital’s former managing director, Ajay Royan and Thiel. Royan predicts Mithril’s average investment will be north of $20 million, DealBook said.

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