Peter Thiel’s Mithril Capital Raises $850 Million VC Fund

Firm spreads fees over 12 years instead of the usual 10
‘Hillbilly Elegy’ author Vance says he’s departing Mithril

Peter Thiel. — Peter Thiel.
Photographer: Andrew Harrer/Bloomberg

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By Sarah McBride

January 19, 2017 at 10:50 PM EST

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Mithril Capital Management LLC, a venture capital firm co-founded by Peter Thiel, said it raised about $850 million for its second fund.

Ajay Royan, managing general partner of Mithril Capital, said the firm takes a somewhat unusual approach of asking investors to pay management fees over 12 years, instead of 10 for the typical VC fund.

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Peter Thiel’s Mithril Capital Raises $850 Million VC Fund