Peter Thiel-backed Mithril Capital proves mettle with $540m debut fund close


Mithril_ShirtPeter Thiel-backed Mithril Capital has reportedly held a $540m final close for its debut tech-focused fund.

Mithril, named after the silver material stronger than steel mined by dwarves in the Lord of the Rings trilogy, has closed the fund it has been marketing since summer last year according to VentureWire.

The San Francisco-based firm targets businesses which “use technology to solve intractable problems, often in traditional sectors long overdue for innovation”, according to its website.

Thiel sits as chairman of the firm’s 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.

Thiel previously said of the firm’s strategy, “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.”

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