Peter Thiel is putting his Facebook proceeds back to work.
The billionaire investor, best known for his contrarian views and his early bet on the social network, has opened a new venture capital firm, Mithril Capital Management, with a $402 million fund. While it’s unclear how much Mr. Thiel, who sold some $640 million worth of shares in Facebook’s I.P.O., contributed to the pot, he is the fund’s largest investor, according to a statement issued on Wednesday.
The firm, which is based in San Francisco, will fit somewhere between Mr. Thiel’s other investment firms, Founders Fund, which tends to focus on earlier stage investments, and Clarium Capital, a global macroeconomic hedge fund.
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