'Hillbilly Elegy' author, Peter Thiel partner on VC fund
Peter Thiel might be the most famous name attached to the new fund
"Hillbilly Elegy" author J.D. Vance and fellow venture capitalists including Peter Thiel have raised $93 million for a new venture capital firm to be based in Cincinnati, Ohio.
The firm will be called Narya Capital, and it will focus on early-stage venture capital, according to the firm's website. Narya Capital wants to raise $125 million, according to Axios.
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Thiel and fellow billionaire Marc Andreessen will be some of the fund's backers, Axios reported. Like Vance, both Andreessen and Thiel have Midwestern ties: Andreessen grew up in Iowa and Wisconsin, while Thiel's family moved to Cleveland, Ohio, when they first emigrated from Germany.
Left to right: J.D. Vance and Peter Thiel
Vance has a background in venture capital that includes working at the Rise of the Rest Seed Fund and Thiel's Mithril Capital. Vance will continue to advise Rise of the Rest.
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Narya could focus on life sciences, defense, robotics and other areas of technology, a source told Axios. The research and development firm Batelle is one of Narya's investors as well, Axios reported.
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Andreessen is reportedly attending a dinner with Secretary of State Mike Pompeo and other tech leaders in San Francisco on Monday night.
FOX Business' inquiry to Narya was not immediately returned.