A little bit of PayPal founder Peter Thiel’s wealth will help New Zealand technology businesses thanks to the launch of a new venture capital project.
The U.S. entrepreneur, who was one of Facebook’s first investors, is to establish a new 40 million New Zealand dollar (US$32 million) Kiwi-focused venture capital fund jointly with the New Zealand Venture Investment Fund, or NZVIF, to support local technology developments.
The NZVIF has committed NZ$20 million, Mr. Thiel NZ$15 million through his Valar Ventures company to the new fund. A further NZ$5 million has come from other New Zealand investors.
To read the full, original article click on this link: PayPal’s Peter Thiel Sets Up Venture Capital Fund - Deal Journal Australia - WSJ
