Valar Ventures
TypePrivate
IndustryVenture capital
Founded2010 (2010)
Founders
HeadquartersNew York City, U.S
Websitevalar.com

Valar Ventures is a US-based venture capital fund founded by Andrew McCormack, James Fitzgerald and Peter Thiel in 2010.[1] Historically, the majority of the firm's investments have been in technology startups based outside of Silicon Valley, including in Europe, the UK, the US and Canada. Valar Ventures originally spun out of Thiel Capital,[2] Peter Thiel's global parent company based in San Francisco, and is now headquartered near Madison Square in Manhattan.[3] The firm's namesake is the Valar of J. R. R. Tolkien's legendarium, who are god-like immortal spirits that chose to enter the mortal world to prepare it for their living creations.

Andrew McCormack and James Fitzgerald are the managing partners of the firm.[4]

Investments

Valar was notably the first venture fund to invest in Xero. The fund made its initial investment in Xero in October 2010 at a valuation of approximately $98 million.[5] Since then, the firm has spearheaded successive rounds of investment in the company[6] and Xero's market cap has grown to more than $4 billion as of February 2014.[7]

Valar also led TransferWise's Series A and Series B financing rounds in January 2013 and April 2014, respectively. Following Valar's investment, Andreessen Horowitz led TransferWise's Series C[8] and Baillie Gifford led the company's Series D in 2016 at a $1.1 billion valuation.

Both Xero and TransferWise were investments out of Valar's $100M first fund, which was a series of special purpose vehicles, including a $32 million New Zealand specific fund.[9] Additional investments in startups include: Breather, N26 (€10 million in a 2016 series A round[10]), Descomplica, Dinda, Even, EyeEm, Granify, Homie, Lystable, Oppa, fintech Stash,[11] TradeIt, and Vend. In 2018, Valar led Series A funding for Petal, a fintech start up[12] and led a second round of funding for Coya, a German insurance startup.[13]

In February 2019, Valar Ventures led a $28 million Series B funding round for Cluno, a mobility and fintech company based in Germany. Acton Capital Partners and Atlantic Labs, which both backed the company's Series A round, also participated.[14]

References

  1. ↑ Haggin, Patience (5 June 2017). "Thiel's Valar Ventures Finds Its Footing on Home Soil". The Wall Street Journal. Archived from the original on 14 August 2023.
  2. ↑ "Thiel". Thiel Capital. Retrieved 21 August 2014.
  3. ↑ "PayPal's Peter Thiel brings venture capital firm to NYC". The Real Deal. 21 November 2013. Retrieved 21 August 2014.
  4. ↑ "Thiel's Valar Ventures leads series A funding round in Bitpanda". Private Equity Wire. 29 September 2020.
  5. ↑ Drury, Rod (21 October 2010). "Peter Thiel to Invest in Xero". Xero. Retrieved 25 July 2014.
  6. ↑ Hammond, Michelle (3 December 2012). "Peter Thiel-backed fund pours further investment into Xero". Startup Smart. Retrieved 29 July 2014.
  7. ↑ Stewart, Sam (2014-02-18). "Xero valued at NZ$5.1 billion: 3.1 million customers by 2020?". Commercial and Financial Advisor. Retrieved 29 July 2014.
  8. ↑ Dawson, Freddie (2016-01-31). "Transferwise Secures $58m From Andreessen Horowitz And Others". Forbes. Retrieved 31 Jan 2015.
  9. ↑ Gobry, Pascal-Emmanuel. "Facebook Billionaire Peter Thiel Raises New Venture Fund To Invest In His 'Utopia'". businessinsider.com. Retrieved 25 July 2014.
  10. ↑ Dillet, Romain (2016-04-16). "Number26 Grabs $10.6 Million To Bring Its Bank Of The Future To Everyone". TechCrunch. Retrieved 2017-01-31.
  11. ↑ "Micro-investing startup Stash raises $40 million". Reuters. 2017-07-13. Retrieved 2019-03-22.
  12. ↑ "Petal nabs $13 million from Peter Thiel's Valar Ventures, others to get credit cards to people without credit scores". VentureBeat. 2018-01-10. Retrieved 2018-07-24.
  13. ↑ "Peter Thiel's investment firm is doubling down on a German insurance startup". Business Insider. Retrieved 2018-07-24.
  14. ↑ O'Hear, Steve (11 April 2018). "Cluno, the Munich-based 'car subscription' service, raises €7M Series A". TechCrunch.
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