Mithril will focus primarily on growth equity opportunities across the global technology sector, investing in companies that have moved beyond the traditional venture-backed stage and prefer to remain private as they mature, he said.
“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.”
“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.”
Thiel will sit as chairman of the investment committee, while Ajay Royan, co-founder and managing general partner, will serve on the investment committee and lead the Mithril team. He has previously collaborated with Thiel on finance and technology projects since 2003, including as managing director at Clarium.
“Many great inventions are driven by a spirit of dissent and curiosity,” said Royan. “That spirit defines and pervades Silicon Valley, but it can be found everywhere in the world. Just as SAS Institute inaugurated modern business intelligence software, FANUC scaled industrial robotics, and ARM redefined efficient mobile computing, Mithril companies, if we’re right, will foment changes that will seem inevitable after they happen.”
The firm’s long-term approach, global focus and emphasis on technology-driven growth potential complements the strategies of Thiel’s venture capital group Founders Fund and global macro fund Clarium.
Jim O’Neill, the former principal associate deputy secretary of health and human services, former managing director of Clarium, and co-founder of the 20 under 20 Thiel Fellowship, will also be a partner in Mithril.
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