Peter Thiel Starts New Venture Capital Firm: Mithril Capital Management

Melissa Stusinski

Peter Thiel, the billionaire investor and co-founder of PayPal, has started a new venture capital firm, called Mithril Capital Management, relocating some employees, along with some of his money, to the new company.

Mithril Capital opened its doors in San Francisco with a $401 million fund, Thiel being the largest investor. The New York Times reports that it is not clear how much of the investor's $640 million in Facebook IPO shares he sold is a part of the new venture.

The firm joins other investment firms Thiel has already supported, including Founders Fund, which normally focuses on earlier stage investments, and Clarium Capital, which is a global macroeconomic hedge fund.

Thiel will lead the firm's investments, along with Ajay Rojan, according to All Things D. Mithril will focus its goals on fast-growing companies who "prefer to remain private as they mature."

Rojan has expressed that they expect a typical investment for the firm to be between $20 million and $100 million, with the majority leaning toward the $200 million mark. Peter Thiel's new company's intended targets will be "the non-fashionable companies," according to Royan, who added that we should not expect social media or cloud investments.

Royan went on to say, according to The Wall Street Journal, that:

"Skype was willing to compete with telephony, and Sony redefined what personal media looked like in a previous era. We would love to find those types of companies…They will not look like Silicon Valley social media companies."