'Hillbilly Elegy' author, Peter Thiel partner on VC fund
Peter Thiel might be the most famous name attached to the new fund
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"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.