Clarium Chief's VC Fund Seeks $600 Million

Nov 9 2011 | 1:23pm ET

Clarium Capital Management founder Peter Thiel is looking for $600 million to do what he does best: investing in nascent technology companies.

Thiel's venture capital firm, Founders Fund, is fundraising for its fourth fund. Its third closed last year with just $250 million, less than half the amount Thiel is now seeking.

San Francisco-based Founders aims to close the fourth fund this month, Bloomberg News reports. Founders raised its first fund in 2005.

Thiel's turn as a hedge fund manager has been less than a huge success. The firm lost 23% last year, its third-straight losing year, and abandoned New York to return to California. Earlier this year, Thiel pledged to invest more of what's left of Clarium's assets under management, which had fallen by more than 90%, in technology.

And it is as a technology entrepreneur and venture capital investor that Thiel made his name. He founded PayPal, selling it to eBay Inc. nine years ago for $1.5 billion. He put some of that money into an even bigger success story, Facebook, as its first outside investor in 2004.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note