A lot of traditional VCs (particularly those based in the West Coast) woke up this morning and tossed some chairs around and broke some really expensive shit because of this article in the Wall Street Journal, lauding Peter Thiel and his partners over at Founders’ Fund, which include Sean Parker, Luke Nosek, Ken Howery. The fund’s investments include:
- Iron Port Systems: email security software (recently sold to Cisco for $830M).
- Slide: the #1 or 2 widgets maker on Facebook.
- Facebook: apparently, a popular social networking site.
- Powerset: the natural search language company launched on the heels of a XEROX patent. continue reading...
Peter Thiel’s initial claim to fame was as the CEO of Paypal.
Today he runs Clarium Capital Management and the Founders’ Fund. The former is a hedge fund with $2B under management, the latter is a $50M venture capital fund that has raised the ire of uber angel investor Ron Conway, mainly for allowing entrepreneurs to partially cash out when they sell equity to VCs in funding rounds. continue reading...
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