| | |
| Company type | Venture fund |
|---|---|
| Industry | Venture capital |
| Founded | 2011 [1] |
| Founder | Peter Thiel [2] |
| Headquarters | Los Angeles [1] |
Key people | Peter Thiel Jason Camm [3] Jack Selby [4] Matt Danzeisen [5] Blake Masters |
| Website | thielcapital.com |
Thiel Capital is an American venture capital fund, which is also Peter Thiel's "family office". It was formed in 2011 and is based in Los Angeles. [6] [7]
Thiel Capital provides "strategic and operational support" for many of Peter Thiel's initiatives and ventures. [8] Thiel Capital has incubated several major investment firms — Founders Fund, Mithril, and Valar Ventures—as well as other business and philanthropic initiatives like the Thiel Fellowship and Breakout Labs.
The firm should not be mistaken for Thiel Capital Management, which was founded by Peter Thiel in 1996 and was the predecessor of Clarium, which had Thiel Capital as its successor. [9] [10] [11]
There is also another company named Thiel Capital (operates on the internet through websites like thiel-capital.com and thiel-capitals.com), which is banned by BaFin from conducting custody business. BaFin remarks that there is no certifiable connection between this company and Clarium Capital's Peter Andreas Thiel. Dasinvestment comments that this is likely sheer coincidence. [12] [13]
A registration paper involving Bridgetown Holdings Limited (whose chairman is Matt Danzeisen, the spouse of Peter Thiel) sent to the SEC states that, "Thiel Capital and its predecessors have incubated and launched several investment firms now with billions of dollars under management, including Founders Fund, Mithril and Valar Ventures. Numerous other business and philanthropic ventures, including the Thiel Fellowship and Breakout Labs, have also started under the Thiel Capital umbrella." [1]
In a 2019 questionnaire sent to the U.S. Congress, Michael Kratsios described Founders Fund, Thiel Macro, Mithril Capital, Valar Ventures, Clarium Capital, and The Thiel Foundation as "related subsidiaries" of Thiel Capital. [14]
Jack Selby describes the firm as "the nest". [4]
Max Moran of CounterPunch and the watchdog The Revolving Door Project calls Thiel Capital the most secretive of Thiel's funds and "an enigma": "Its website is just a logo. The only public information about it comes, again, from a LinkedIn page, declaring that it 'provides strategic and operational support for Peter's many investment initiatives and entrepreneurial endeavors.' (LinkedIn, by the way, was created by a Paypal mafioso.) Another sign that Thiel Capital isn't looking for the spotlight is the name: Thiel's better-known venture capital funds are all named after Lord of the Rings references, such as the godlike Valar, or magical metal Mithril. Thiel Capital appears, then, to be a means of overseeing and managing the other, flashier pieces of the Thiel empire." [15] [16]
The firm reportedly has a notable role in Thiel's political activities. In 2017, Politico wrote that Rob Morrow, a principal at the firm [17] (and longtime associate who has worked in various Thiel firms including Clarium Capital) was Thiel's political consigliere and was consulted when Thiel considered a bid for California governorship. [18] [19] Thiel's biographer Max Chafkin notes, though, that although Thiel's entourage has become more structured in recent years, unlike other billionaires, he never has a real political team or an adviser who directs activities on his behalf. Instead, his investment firm Thiel Capital and other friends and associates form an inner circle that is similar to the court of a king. [20]
It was one of the most active family offices in venture capital worldwide in 2024 (tied for sixth, by the number of deals: 14) . [21]
The firm's investments include:
Thiel Capital acts as the main gateway in many of Thiel's business initiatives in Asia-Pacific. The firm sponsors Bridgetown 1, 2, 3 (all with Matt Danzeisen as chairman). It also sponsors Korea-based Crescendo Equity Partners (founded by Matt Danzeisen, Peter Thiel and others), [108] [109] [1] [10] [110] which by 2020 had invested over $550 million across South Korea and Southeast Asia. [111]
In 2014, Thiel Capital set up a venture fund together with Korea Development Bank (KDB). Business Korea saw the move as signalling the interest of the PayPal Mafia in the country, as it was followed by the move of Dave McClure and his firm 500 Startups, associated with former PayPal employees and founders, to invest in Korea. [112]
In 2023, Thiel backed Singapore- and New York-based based Recharge Capital's new $200m women's healthcare fund Women's Healthcare Investment Vehicle through Thiel Capital. [113] [114]
Haymaker Ventures, a venture firm focused on fintech and early stage startups, was spun out of Thiel Capital. [115] [116] [117] [118] [119] Danzeisen serves as head of the investment advisory committee of Haymaker Ventures, while his former working partner at Thiel Capital, Phin Upham, is a managing partner. [120] [121] [115] The company has invested in Latin countries. [122] [123]
Thiel Macro is a hedge fund that holds shares of Tesla, Microsoft and Apple. [124] At the end of 2017, it took a large position tied to a rise in the Cboe Volatility Index (VIX). [125] Gizmodo notes that Thiel Capital and Thiel Macro seem to be intertwined, as they share the same address and Kevin Harrington worked for both organizations. [126] Another notable former employee is Curt Mills, who is now the executive director of The American Conservative . [127] [128] [129]
In late 2025, Thiel Macro sold off its entire position in NVIDIA worth ~$100 million amid ongoing concerns an AI bubble was forming. [130] [131]
In October 2022, Peter Thiel invested in the Gilching-based surveillance drone startup Quantum Systems founded by the former Bundeswehr officer Florian Seibel, through Thiel Capital. His involvement with the company, as well as his subsequent backing of the Berlin-based attack drone startup Stark, also found by Seibel (a new company needed to be found because some of Quantum Systems' investors were not allowed to invest in weaponized drones), are sometimes considered controversial, due to Thiel's politics. Seibel said he knew about Thiel's politics, but he considered Thiel "one of the most successful, if not the most successful tech investor in the world". Later he told Follow the money that, "We have experienced tremendous support and introductions by Peter. I do not share political views with him but selected him in 2021 for his network into tech and being one of the most successful investors worldwide." [132] [133] [134] In May 2025, Quantum Systems became Europe's first dual-use unicorn and third defense unicorn, after fellow Bavarian startup Helsing and the Portuguese Tekever (Thiel has a role in the success of Helsing too and the startup is considered a part of the "Thiel ecosystem", although he does not directly invest in it). [135] [136] [137] [138] Thiel's mentee Moritz Döpfner brokered the deal with Quantum Systems on Thiel's behalf and sits on its board. His venture fund Doepfner Capital also invests in Stark. [139] [140] [141] [142]
In 2018, when Thiel moved from San Francisco to Los Angeles, Thiel Capital's and Thiel Foundation's headquarters were relocated to Los Angeles, too. It was noted that there were 50 employees who made up the two organizations at the time and also followed Thiel to Los Angeles. [143] [144] [145]
Danzeisen is head of private investments, focusing on the U.S. and Asia. When he and Thiel started dating around 2007, he was BlackRock's vice president and based in New York, Thiel considered moving Clarium (Thiel Capital's predecessor) to New York, but discarded the plan. Instead, Danzeisen left his job at BlackRock and joined Clarium and Thiel Capital in 2008. [146] [147] [148] [149] Other than his job at Thiel Capital and Haymaker Ventures, Crescendo and Bridgetown, he serves on the boards of companies like iText and Coru Holdings, a personal financial management platform which he and Thiel were among largest owners. [1] [150] [151] [152] Since 2021, Thiel Capital is a shareholder in Malta-based EUM, which Thiel, Danzeisen, Richard Li and investors from Coru established. [153] [152] He married Thiel in October 2017. [154]
Jason Camm is the chief medical officer of Thiel Capital, founder of the newly founded biotech fund Thiel Bio, [155] and CEO of Bonn- and West Hollywood-based pharma company Beren (which is in the same building with Thiel Capital). [156] [157] [158] [159]
Hannes Holste is Thiel Capital's director of life science and a partner at Thiel Bio. [160]
Jack Selby is a managing director. [161] When at PayPal, he was vice president for business and corporate development. He is considered part of the PayPal Mafia. Later he co-founded Clarium Capital with Thiel. [162] [163] As managing director of Thiel Capital, he is also on the Global Advisor Board of data analytics firm Presight (subsidiary of the UAE's G42), which governs the Presight–Shorooq Fund. [164] [165] He is also the founder of AZ-VC (formerly invisionAZ Fund), which focuses on Arizona and described as "the largest venture capital fund in the state’s history". He deliberately seeks backing from Arizona's real estate firms, and not from Thiel, Thiel Capital or the firm's partners, saying "With my day job with Peter, and I say this very humbly, but I basically know every LP that allocates venture capital in the world, whether they’re here in Abu Dhabi or Tokyo or New York or wherever it is. They all know who we are, and they would love to curry favor with him by giving money to some new fund that’s connected to Peter’s universe. But I wanted to use the fund as a litmus test to see if the Arizona community wanted to see something like this fund rise up and get off the ground." [4] [166]
Michael Gibson was hired in 2010 to help Thiel teach a course at Stanford, but soon became involved in leading the Thiel Foundation and helped launch the Thiel Fellowship, through which he supported Figma, Inc. and Ethereum. His position at Thiel Capital was principal. Later he left with his co-director (also Thiel Fellowship's co-founder) Danielle Strachmann to found 1517 Fund. [167] [168] [169] [170]
Eric Weinstein was a managing director at Thiel Capital. [171] [172]
Some of Thiel Capital's (former and current) employees are also notable for their political activities, which are sometimes considered controversial.
In early 2022, Sebastian Kurz, who had just resigned from his office as Chancellor of Austria following instability in the coalition and corruption allegations, began his work as a global strategist for Thiel Capital. [173] [174] A report by the politician Sophie in 't Veld, the rapporteur for the EU Committee of Inquiry (that investigated the use of the software Pegasus created by the firm of the same name, found by the Israeli entrepreneur Shalev Hulio), notes that, "The cooperation between Kurz and Hulio constitutes an indirect but alarming connection between the spyware industry and Peter Thiel and his firm Palantir." [175]
Thiel Capital's former COO, Blake Masters, was a U.S. Congress candidate from Arizona. He resigned from Thiel Capital in 2022 amidst ethical concerns. [176] Thiel supported Masters' campaign with $15 million, but the campaign did not succeed. [177]
Kevin Harrington and Michael Kratsios were both former employees of Thiel Capital. The two senior White House officials attended the 2025 Bilderberg Meeting alongside Peter Thiel. [178] [179]
Jim O'Neill, now U.S. Deputy Secretary of Health and Human Services, is a former managing director at Thiel Capital. He had previously worked for Clarium. He also worked at Thiel Macro, helped launch Thiel Fellowship and Breakout Labs. [180] [181]
Moritz Döpfner was Thiel's former chief-of-staff and worked for Thiel Capital. Thiel is the anchor investor in Döpfner's firm Doepfner Capital. Thiel's and Palantir's business and political connections with the Döpfner family in general attract a lot of attention in Germany. [182] [142] [141] [183]
Charles Vaughan is the current chief-of-staff. Around 2021, he was involved with the controversies at the Faculty of Divinity, University of Cambridge. It was alleged that he helped to recruit conservative or right-wing academics at Cambridge to build an "anti-woke" network on behalf of Thiel, with some allegations being based on the connection between Thiel and Curtis Yarvin regarding their opinions on race (Max Chafkin remarks that while Thiel and Yarvin overlap in many areas, opinions on race are not one of them [184] ). The conservative side claimed that they promoted free speech. [185] [186] [187] [188] [189] [190]
Jesse Michels is an investor and filmmaker who works as chief executive officer for Thiel Capital. He has been noted for his diplomatic activities involving the politician and chess magnate Kirsan Ilyumzhinov, Vatican, Kalmykia, Albania and Africa. [191]
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