Thiel Capital

Peter Thiel founded Thiel Capital in 2011 and has served as its president since that year; before that, he had been president of the global macro investment manager Clarium Capital Management since 2002 and a partner of the venture capital firm Founders Fund since 2005.⁠[1][2]

Thiel Capital’s role is to provide strategic and operational support for Thiel’s various investment initiatives and entrepreneurial endeavors. Thiel Capital and its predecessors incubated and launched several investment firms that went on to manage billions of dollars, including Founders Fund, Mithril, and Valar Ventures; business and philanthropic projects such as the Thiel Fellowship and Breakout Labs also started under the Thiel Capital umbrella.⁠[3][3][3]

Michael Kratsios served as chief compliance officer of Thiel Capital and of the hedge fund Thiel Macro from 2012 to 2014, and as principal and chief of staff at Thiel Capital from 2014 to 2017, leading the Office of Peter Thiel and serving as the primary point of contact for the investment subsidiaries and all initiatives involving Thiel. Nominated as U.S. Chief Technology Officer in 2019, he described Thiel Capital in his questionnaire to the Senate Commerce Committee as an investment firm providing strategic and operational support for Thiel’s investment initiatives and entrepreneurial endeavors, and listed Founders Fund, Mithril, Valar Ventures, Thiel Macro, Clarium Capital Management, and The Thiel Foundation as its related subsidiaries.⁠[4][4][4][4][4][4][4][4][4]

The film company Legendary Entertainment closed a $275 million financing, $128 million of which was new financing; the new investors included Google executive Eric Schmidt’s Tomorrow Ventures, Morgan StanleyMorgan StanleyMorgan Stanley is an American global financial services firm that grew from an investment banking partnership into a publicly traded financial group spanning investment banking, securities trading, wealth management, and investment management.Open the full entry Investment Management, and Thiel Capital.⁠[5][5]

Bridgetown Holdings sold 55 million units at $10.00 each, raising $550 million, as a blank check company seeking a business combination with a technology, financial services, or media company in Southeast Asia. Its sponsor, Bridgetown LLC, was formed as a collaboration between Pacific Century, the investment group Richard LiRichard LiRichard Li (Li Tzar Kai) is a Hong Kong entrepreneur and investor. He founded the pan-Asian satellite television network Star TV in the early 1990s and, after selling a controlling stake to News Corporation in 1993, founded the private investment group Pacific Century Group (PCG). He has been chairman of PCCW since 1999 and is executive chairman of HKT; the insurer FWD, which he founded in 2013, listed on the Hong Kong Stock Exchange in 2025.Open the full entry founded in 1993, and Thiel Capital; the prospectus identified Thiel Capital as an affiliate of the sponsor and stated that Thiel Capital was then located in Los Angeles, California.⁠[3][3][6][3][3][3][3]

Bridgetown’s chief executive was Daniel Wong, and its chairman was Matt Danzeisen, head of private investments at Thiel Capital. According to the prospectus, Danzeisen led Thiel Capital’s strategy of making debt and equity investments in financial technology companies and served on the boards of three of them, including the electronic bond trading platform Trumid; while at Thiel Capital he co-founded the South Korean private equity firm Crescendo Equity Partners, which had raised and deployed more than $550 million in South Korea and Southeast Asia.⁠[3][3][3][3][3][3]

A second vehicle, Bridgetown 2 Holdings, sold 26 million Class A ordinary shares at $10.00 per share, raising $260 million; unlike most special purpose acquisition companies, it offered no warrants.⁠[7][7][7]

Block.one announced the formation of its subsidiary Bullish Global to prepare the launch of the Bullish cryptocurrency exchange. After an initial injection by Block.one of $100 million in cash, 164,000 BTC, and 20 million EOS, and the completion of a $300 million strategic investment round, Bullish Global was capitalized with more than $10 billion; the investors leading the round included Peter Thiel’s Thiel Capital and Founders Fund, as well as Alan HowardAlan HowardAlan Howard is a British macro hedge fund manager who in 2002 co-founded Brevan Howard with fellow traders from Credit Suisse First Boston and built it into one of Europe’s largest hedge fund managers. After stepping down as chief executive in 2019, he focused on his own trading, and in 2021 he took part in Bullish’s strategic funding round and became a senior advisor to the company.Open the full entry, Louis BaconLouis BaconLouis Bacon is an American macro hedge fund manager and conservation philanthropist who founded Moore Capital Management in 1989 and serves as its chairman and principal investment manager. He founded The Moore Charitable Foundation in 1992 and donated the largest conservation easement the U.S. Fish and Wildlife Service has ever received. In 2021, he took part in Bullish’s $300 million strategic funding round.Open the full entry, Richard Li, Christian AngermayerChristian AngermayerChristian Angermayer is a German entrepreneur and investor and the founder of Apeiron Investment Group, a private investment firm and family office. He co-founded the RNA interference company Ribopharma in 2000 and, in 2018, co-founded atai Life Sciences, a biotechnology company developing mental health treatments including psychedelic compounds (AtaiBeckley after its 2025 combination with Beckley Psytech), where he is chairman of the board; he is also co-founder and chairman of the board of Enhanced, a sports competition and wellness company.Open the full entry, Galaxy DigitalGalaxy DigitalGalaxy Digital (Galaxy Digital Inc., Nasdaq and Toronto Stock Exchange: GLXY) is a New York-based digital asset financial services and data center infrastructure company founded by Mike Novogratz, which says it was founded in 2018. It provides institutional clients with digital asset trading, lending, investment banking, asset management, staking, and custody technology services, and is building data centers in Texas for artificial intelligence and high-performance computing.Open the full entry, and Nomura. Thiel also became a senior advisor to Bullish, saying its balance sheet was strong and that he was happy to join as an investor and advisor.⁠[8][8][8][8]

On July 9 of the same year, Bullish announced plans to go public through a merger with the special purpose acquisition company Far Peak, and the press release again listed Thiel Capital and Founders Fund among its investors.⁠[9][9][9]

The Southeast Asian property technology company PropertyGuru completed its business combination with Bridgetown 2. The transaction valued PropertyGuru at an enterprise value of about $1.36 billion and an equity value of about $1.61 billion, with proceeds of about $254 million; the combined PropertyGuru Group began trading on the New York Stock Exchange under the ticker “PGRU” on March 18.⁠[10][10][10][10]

Thiel Capital led a $3.2 million seed round in 28, a U.S. women’s health startup that offers fitness and wellness programs built around the hormonal phases of the menstrual cycle and that had been bootstrapped until then.⁠[11][11]

Jack Selby, a former PayPalPayPalPayPal Holdings, Inc. (Nasdaq: PYPL) is an American digital payments company that operates payment brands including PayPal, Venmo, Braintree, and Xoom, providing online and in-store payments, money transfers, and consumer credit to consumers and merchants worldwide.Open the full entry executive and longtime managing director of Thiel Capital, launched AZ-VC, a $110 million venture fund investing mostly in Arizona startups; neither Thiel nor Thiel Capital’s institutional backers invested in it. Selby said his day job with Thiel was protecting “the nest.” At the time, Thiel Capital was based in West Hollywood.⁠[12][12][12][12][12]

The Southeast Asian financial products platform MoneyHero completed its business combination with Bridgetown on October 12, 2023 (Eastern Time). The transaction valued it at an enterprise value of about $310 million, and the combined MoneyHero began trading on Nasdaq under the ticker “MNY” on October 13.⁠[6][6][6][6]

Rhea, a reproductive health service provider based in Singapore and New York, raised $10 million in a round led by its existing backer Thiel Capital, with participation from LifeX Ventures, Blue Lion Global, and FJ Labs.⁠[13][13]

In a Schedule 13G filing on SpaceXSpaceXSpaceX is a company founded by Elon Musk in 2002 whose businesses include space transportation, Starlink satellite communications and artificial intelligence. It went public in 2026 under the ticker SPCX.Open the full entry Class A shares made jointly by the Founders Fund funds and Peter Thiel, Thiel’s own contact address was given as the Thiel Capital LLC office on Brickell Avenue in Miami.⁠[14]

A separate company also called Thiel Capital, which solicited clients through the websites thiel-capital.com and thiel-capitals.com, was ordered by Germany’s Federal Financial Supervisory Authority (BaFin) on March 5, 2021, to immediately cease its unauthorized safe custody business. BaFin said the company had registered offices in the United States, Sweden, and the United Kingdom, and that it had found no indication of any connection with Clarium Capital or Peter Thiel.⁠[15][15][15]

Founders Fund: Official website: https://foundersfund.com/ (opens in a new window).⁠[16]