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: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

The yield curve and stock market response

Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.