Fundraising FoxMithril Capital Management
Growth equityAustin · Series B–Growth · 5 people tracked
Also known as MITHRIL · Mithril Capital · MITHRIL CAPITAL MANAGEMENT LLC
Find your way into Mithril Capital Management
Sign up to see every warm intro you have to Mithril Capital Management
- Paths you didn't know you had: your email and LinkedIn already hold routes to the Mithril Capital Management team. We find them for you
- 2nd- and 3rd-degree connections: the friend-of-a-friend routes that take hours to manually find through your inbox or LinkedIn
- Answers now, not in days: momentum is everything in a raise. Skip asking around whether someone knows someone
Days of research, done the moment you sign in, with every route ranked by how warm it is.
Investment thesis
Mithril runs a family of long-term venture capital funds that are agnostic to both sector and geography. The firm backs and partners with teams that use technology to build valuable, lasting businesses, with a particular interest in industries that are overdue for change. Its emphasis on longevity and durability is captured in its 'Building to Last' approach.
Source: firm website, verified Oct 17, 2026.
Team · 5 people
from the firm's website & public directories
Peter Thiel co-founded PayPal, wrote Facebook's first outside check, and started Founders Fund, whose portfolio includes SpaceX, Stripe, Palantir, and Anduril. He chairs Palantir Technologies and is known for contrarian views on competition, progress, and politics. His startup handbook Zero to One remains one of the most widely read books in the field.
Ajay Royan founded Mithril and serves as its managing general partner, developing the firm's focus on investing for durable growth and partnering with technology pioneers. Before Mithril he was a macro and growth equity investor at Clarium, and he was educated at Yale University.
Founder mafia
4 people who came through Mithril Capital Management went on to found or lead other companies.
What they invest in
from 27 of 45 portfolio companiesAI & Machine Learning ×8SaaS ×8Biotech ×6Deep Tech ×6Enterprise Software ×5Healthtech ×5Medical Devices ×5Cleantech ×4
HQs:United States×27Australia×1France×1United Kingdom×1Saudi Arabia×1
Who they back
founder profiles across 9 portfolio companiesFounding team size:solo founder×32 founders×23 founders×24+ founders×2
What their founders studiedfrom 10 founders with field-of-study data
Business & Management ×3Computer Science ×3Engineering ×2Finance & Accounting ×2
Where their founders worked beforefrom 10 founders with career history
MAKO Surgical Corp. ×2
Investments · 45 tracked
founders shown can be your intro pathBy year:2025 · 12023 · 12022 · 42021 · 42020 · 42019 · 32018 · 32017 · 12016 · 12015 · 32014 · 328 dated
Fractyl develops therapies for obesity and type 2 diabetes, focusing on non-drug-based approaches rooted in understanding metabolic disease mechanisms.
BiotechHealthtechMedical DevicesLexington, US
Jay Caplan(Founder)inHarith Rajagopalan(Co-Founder and CEO)inLISA DAVIDSON(Executive Officer)inDiane Marcou(Executive Officer)in
BoardAllan Will(Director)inNimesh Shah(Director)in
Board seatAjay Royan· per SEC Form D
Co-investorsBessemer Venture PartnersCatalio Capital Management, LPEmergent Medical Partners, LLPGeneral CatalystDomain AssociatesPolaris Partners+1 more
.png)
Invivyd is a biopharmaceutical company that develops antibody-based product candidates for the prevention and treatment of serious viral infectious diseases, combining viral surveillance and predictive modeling with antibody engineering.
BiotechHealthtechWaltham, US
Tillman U. Gerngross(Executive Officer, Director)Marc Elia(Founder)inLynn Connolly(Executive Officer)inEric Kimble(Executive Officer)inHalley Gilbert(Executive Officer)inRebecca Dabora(Executive Officer)in
Board seatAjay Royan· per SEC Form D
Co-investorsBain Capital Life SciencesForesite CapitalGV (Google Ventures)MRL Ventures FundPremji InvestRA Capital+6 more
Oklo develops next-generation fast fission reactors for producing clean electricity at scale, with a focus on safety features and the ability to use recycled nuclear waste as fuel.
Advanced ManufacturingCleantechClimate TechDeep TechEnergySan Francisco, US
Jacob DeWitte(CEO)inCaroline Cochran(Founder)inCaroline DeWitte(Co-founder and COO)inCaroline CochraninBrian Gitt(Head of Business Development)inAnthony Vu(Director of Operations)
Co-investorsApplied AngelsArmada Investment AGDCVC (Data Collective)Draper AssociatesDraper DragonKluz Ventures+11 more
Palantir builds data integration and analysis platforms — Gotham for defence and government, Foundry for commercial operations — and deploys forward engineers inside customer organisations.
Palo Alto, US
Peter Thiel(Founder)inStephen Cohen(Founder)Nathan Gettings(Founder)Joe Lonsdale(Founder)inAlexander C. Karp(Founder)Alex Karp(Founder)
Co-investors137 Ventures8VCA*AiSprouts VCAkkadian VenturesAllied Venture Partners+73 more
Stem provides an integrated software suite, PowerTrack, for monitoring, developing, deploying, and operating solar and energy storage assets, serving asset owners, operators, and stakeholders in the clean energy sector.
CleantechEnergySaaS
Arun Narayanan(Chief Executive Officer)inBrian Musfeldt(Chief Financial Officer)inSaul R. Laureles(Chief Legal Officer and Corporate Secretary)inMichael Carlson(President, Managed Services & OEM Hardware)inMatt Tappin(President, Software Products)in
Co-investorsACTIVATE CAPITAL PARTNERSConstellation Technology VenturesPUSH VenturesWIND VenturesAngeleno GroupGE Ventures
Ankyra Therapeutics is a biopharmaceutical company developing drugs, with a team that has collectively contributed to bringing seven drugs to global market approval.
BiotechDeep TechHealthtechMedical DevicesAustin, US
Tillman Gerngross(Executive Officer, Director)
BoardTerrance McGuire(Director)
Board seatAjay Royan· per SEC Form D
Co-investorsGV (Google Ventures)Fidelity InvestmentsPolaris PartnersSands Capital VenturesSpring Mountain Capital
Repligen provides bioprocessing technologies—including process intensification, tangential flow filtration, chromatography, process analytics, and single-use fluid management—for upstream and downstream biopharmaceutical workflows.
BiotechHardwareMedical DevicesLebanon, US
Tillman Gerngross(Director)Errik Anderson(Director)inWarren Kett(Executive Officer)Jon Sheller(Executive Officer)Kevin Issett(Executive Officer, Director)Kevin Isett(Executive Officer, Director)
Board seatAjay Royan· per SEC Form D
Co-investorsOrbiMedSV Health InvestorsBorealis VenturesNeomed ManagementPolaris PartnersSands Capital Ventures+1 more
DoubleDutch was an event mobile app provider whose technology is now part of Cvent's Attendee Hub event app offering.
Enterprise SoftwareMarketing TechSaaSSan Francisco, US
Lawrence Coburn(Co-Founder & CEO)Ken Kamada(Executive Officer)Nick Clark(Executive Officer)
BoardEdward Oberwager(Director)Marco Giberti(Director)in
Board seatAjay Royan· per SEC Form D · $45M raise · filed Aug 2015
Co-investorsBessemer Venture PartnersHinge CapitalLaunchCapitalFloodgate
Helion develops fusion energy systems designed to generate clean electricity for commercial use.
Advanced ManufacturingCleantechClimate TechDeep TechEnergyHardwareSeattle, US
David Kirtley(CEO)inChris Pihl(CTO)inJohn Slough(Chief Scientist)inGeorge Votroubek(Founder)inAnthony Pancotti(Co-founder)in
BoardSam Altman(Director)in
Board seatAjay Royan· per SEC Form D
Co-investorsAntiBoxGroupCongruent VenturesSoftBank GroupSoftBank Vision FundY Combinator+9 more
Neocis develops Yomi, a robotic surgical platform that assists clinicians during dental implant surgery with planning, surgical, and restorative software features.
HealthtechMedical DevicesRoboticsMiami, US
Alon Mozes(Founder)inJuan Salcedo(Founder)inDennis Moses(Chief Technical Officer)inAndres Carrillo(VP of Product)inJorge Fernandes(VP of Quality & Regulatory)inGabe Goldberg(VP of Marketing)in
Board seatAjay Royan· per SEC Form D
Co-investorsIntuitive VenturesNorwest Venture PartnersVivo CapitalCLI VenturesFlorida Opportunity FundNVIDIA+5 more
Santa Clara, US
Gerard Williams III(Founder)John Bruno(Founder)John Paz(Founder)Manu Gulati(Founder)
Board seatAjay Royan· per SEC Form D
Co-investorsCelesta CapitalMayfield FundWalden CatalystGilgamesh VenturesNXTPTechnology Impact
Tukwila, US
Jason Andrews(Executive Officer, Director, Promoter)inMarian Joh(Director, Promoter)inCurt Blake(Director)inIndra Hornsby(Executive Officer)inTom Neary(Executive Officer)in
BoardGabriel Kompkoff(Director)
Board seatAjay Royan· per SEC Form D
Co-investorsRazor's Edge Ventures
Adimab develops proprietary platforms for antibody and protein therapeutic discovery, engineering fully-functional immunoglobulins in a controllable in vitro eukaryotic system.
AI & Machine LearningBiotechDeep TechVermont, US
Co-investorsGrandBanks CapitalLaunchCapitalLux CapitalPremji InvestSV Health InvestorsOrbiMed+1 more
AiFi builds camera-based computer vision software that turns physical retail and venue spaces into autonomous, checkout-free environments.
Co-investorsAmino CapitalCSC UpshotSeaX VenturesZMT CapitalCERVIN VENTURESQualcomm Ventures+1 more
-2.png)
AiFi uses AI and computer vision to make physical spaces searchable, observable, and understandable, providing real-time insights for facility and space operators without manual audits.
AI & Machine LearningEnterprise SoftwareIoTRetail Tech
Steve Gu(Founder & CEO)Ying Zheng(Founder)inJoão Diogo Falcão(CEO)
Co-investorsAmino CapitalBRC InnovationCervinCommunitas Capital PartnersDuke Capital PartnersEvolution Ventures+10 more
AppDirect is a B2B subscription commerce platform that connects technology providers, advisors, and businesses to buy, sell, and manage recurring technology services.
B2B MarketplacesCloud ComputingE-commerceEnterprise SoftwareLogistics & Supply ChainSaaSSan Francisco, US
Daniel Saks(Executive Officer, Director)inNicolas Desmarais(Executive Officer, Director)Audrey Garfield(Executive Officer)Paul Desmarais Jr.(Director)Robert Fetherstonhaugh(Director)
BoardChris Arsenault(Director)in
Co-investorsFoundryG SquaredInovia CapitalKensington Capital Partners LimitedJ.P. Morgan Asset ManagementStarVest Partners
Auris Gestion is an independent asset management firm offering asset allocation and wealth management services across three activities serving independent financial advisors and family offices, institutional clients, and private clients.
Fintech
Co-investorsAndera PartnersCoatue ManagementLux CapitalViking Global Investors
Developer of a surgical robotic system for minimally invasive endoscopy and laparoscopy
Frederic Moll(Founder)
Co-investorsBeast VenturesLux CapitalPractica CapitalSBI Investment Korea Co. Ltd.Sonder CapitalViking Global+5 more
BlackSky provides real-time geospatial intelligence and satellite imagery for government and commercial customers.
AI & Machine LearningData & InfrastructureDefense TechSpace Tech
Brian O'Toole(President & Chief Executive Officer)Brian OTooleinJason Andrews(Founder)Marian Joh Andrews(Founder)
Co-investorsAlleyCorpKluz VenturesRazor's Edge VenturesRRE VenturesAlley Robotics VenturesTiger Global Management
Classy, acquired by GoFundMe, provides fundraising software for nonprofits that combines donation management tools with the GoFundMe platform to help organizations reach donors and increase charitable giving.
FintechSaaSSan Diego, US
Patrick Walsh(Director, Promoter)Scot Chisholm(Founder)Joe Callahan(Founder)inPat Walsh(Founder)
BoardHoward Deshong(Director)Adam Garone(Director)
Co-investorsBullpen CapitalHinge CapitalNorwest Venture PartnersRethink ImpactThirty Five Ventures (35V)Western Technology Investment+2 more
Ferveret develops advanced cooling technology for data centers and computing infrastructure, using subcooled boiling methods derived from nuclear reactor engineering.
Advanced ManufacturingCleantechClimate TechData & InfrastructureDeep TechEnergyHardwareSan Francisco, US
Reza Azizian(Founder)inMatteo Bucci(Founder)in
Co-investorsBaruch Future VenturesCathexis VenturesCerberus VenturesThe E14 FundTO VCValkyrie+7 more
ForSight Robotics develops the JASPER robotic surgery platform, combining robotics, advanced visualization, and AI-driven data analytics to assist ophthalmic surgeons in performing eye surgery.
AI & Machine LearningMedical DevicesRobotics
Daniel Glozman(Founder)Joseph Nathan(Founder)Moshe Shoham(Founder)
Co-investorsEclipse VenturesSonder Capital
Fusion Engineering develops flight controller hardware and software for multirotor drones, focused on safety and reliability to enable certified drone flights over urban areas and in offshore conditions.
Deep TechHardwareRobotics
Co-investorsGENIUS NYY Combinator
Gen H (Generation Home) is a UK mortgage lender offering products such as an "Income Booster" that increases borrowing capacity using support from family and friends, and "New Build Boost," a scheme pairing a mortgage with a 15% interest-free equity loan.
FintechPropTech
Co-investorsEntrée CapitalExpansion CapitalLa FamigliaMS&AD VenturesAtomicoLegal & General+1 more
New cardiac scanning method for diagnostics.
BiotechMason, US
Peeyush Shrivastava(Chief Executive Officer)inManny Setegn(Cofounder)inManjit Singh(Vice President, Infrastructure Operations)Vineet Erasala(Vice President, Research and Development)inChandan Srivastava(Chief Financial Officer)inEmmanuel Setegn(Vice President, Engineering)
Co-investorsAlumni VenturesCincyTechJobsOhio VenturesOhio Innovation FundRaptor GroupTDK Ventures+1 more
.jpeg){kind=logo}
Glance builds a personalization and real-time discovery platform for a new model of commerce, delivering shopping experiences across consumer device surfaces.
AI & Machine LearningConsumerE-commerceRetail Tech
Naveen Tewari(Founder & CEO)inPiyush Shah(Co-Founder & President)Mohit Saxena(Co-Founder & CTO)inAbhay Singhal(Co-Founder & CEO, InMobi Ads)Mansi Jain(COO, Glance)inMarc Steifman(CFO, InMobi)
Co-investorsYolo InvestmentsStride Ventures
Buglance offers an online crowdtesting service that connects companies with a global network of testers to evaluate product quality and gather end-user feedback.
Developer ToolsHealthtechInsurTechMarketplacesSaaS
Abdulrahman AljahhaafAli Alahmari
Co-investors500 GlobalStride Ventures
GreyOrange provides AI-driven supply chain orchestration and inventory optimization software for retailers and third-party logistics providers.
AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainRobotics
Akash Gupta(Founder)inSamay Kohli(Founder)
Co-investorsInventus Capital PartnersNB VenturesBlume Ventures
Security Service Edge software helping enterprises secure access untethered from location.
Boston, US
James Burgess(Founder)inJim DolceinJim Dolce (CEO)(Founder)John Hering(Founder)Kevin Mahaffey(Founder)
Co-investorsAccelAndreessen HorowitzCRESCENT COVE CAPITALIndex VenturesIris CapitalMillennium Technology Value Partners+12 more
Nuvia provides inbound and outbound AI agents that generate, qualify, and convert leads into sales automatically.
AI & Machine LearningSaaSSales Tech
John Pazin
Co-investors1616 VenturesAmador HoldingsCapria VenturesDell Technologies CapitalNXTPAtlantic Bridge Ventures+6 more
Paxos is a regulated blockchain infrastructure company that issues stablecoins and tokenized assets and provides crypto brokerage, custody, and stablecoin payment services for enterprises.
Crypto & Web3Enterprise SoftwareFintech
Charles Cascarilla(Founder)inAndrew Chang(Founder)inRich Teo(Founder)
Co-investorsAlly VenturesBlockchain CapitalCanaan PartnersCoinbase VenturesDeclaration PartnersDigital Currency Group+9 more
WonderPlugin is a web design software product developed by Magic Hills, a privately owned Australian software development company.
Developer ToolsE-commerceSaaSSydney, AU
Yoast develops SEO software, including plugins for WordPress, WooCommerce, and Shopify, that provides real-time content analysis, AI-powered optimization suggestions, and readiness for AI-driven search discovery.
AI & Machine LearningMarketing TechSaaS
Joost de Valk(Founder & CEO)in
Co-investorsAugust CapitalB Capital GroupBessemer Venture PartnersBlumberg Capitalboldstart venturesCathay Innovation+26 more
.jpeg){kind=logo}
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Auris Surgical RoboticsGrey Orange InternationalPollen, Inc.AdagioAdagiotxAtheros CommunicationsBlackSkyCapture2HelionOpenWherePalantirSungarddx
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Exits · 10
5 IPOs · 5 acquisitions · showing 9FractylNASDAQ: GUTSInvivydNASDAQ: IVVDOkloNYSE: OKLOPalantir Technologies Inc.NASDAQ: PLTRSTEMNYSE: STEMAvitideacq. by RepligenDoubledutchacq. by CventAtheros Communicationsacq. by QualcommDonate Nowacq. by GoFundMe
Portfolio news
latest coverage across their companies
Lookout · siliconangle.com · Sep 23, 2026
Invivyd · investors.invivyd.com · Sep 1, 2026
Helion Energy · en.wikipedia.org · Aug 8, 2026
Oklo · foreignpolicyjournal.com · Jul 10, 2026
Frequently asked questions
- How many investments has Mithril Capital Management made?
- Mithril Capital Management has 45 tracked investments, 10 of which have exited, including 1 dated in the last 24 months.
- What stage does Mithril Capital Management invest at?
- Mithril Capital Management invests at the Series B, Series C, Growth stages.
- What sectors does Mithril Capital Management focus on?
- Mithril Capital Management focuses on AI & Machine Learning, Biotech, Deep Tech, Logistics & Supply Chain, Sector Agnostic, Space Tech.
- Where is Mithril Capital Management located?
- Mithril Capital Management is headquartered in Austin, US.
- Does Mithril Capital Management lead rounds?
- Mithril Capital Management typically participates in rounds rather than leading them.
- Who does Mithril Capital Management co-invest with?
- Mithril Capital Management most often shares deals with Norwest Venture Partners, Bessemer Venture Partners, Founders Fund, among 89 tracked co-investors.
- What size deals does Mithril Capital Management back?
- Across 5 deals with disclosed amounts, Mithril Capital Management has joined rounds of $40M – $220M (median $140M).
Media · Podcasts & interviews
featuring the teamRogan seems into his buddy Peter Thiel harvesting younger ...
The Tennessee Holler · Peter Thiel · facebook.com
Joe Rogan talks about awkward Peter Thiel Interview
Everyday Clips · Peter Thiel
Peter Thiel on How to Build a Creative Monopoly
Founders Podcast · Peter Thiel
Peter Thiel's investment playbook is available to anyone for free. His firm Founders Fund published
harbingerhq · Peter Thiel
Peter Thiel's Founders Fund backs AI tech for ranchers
Peter Thiel · finance.yahoo.com
Big Deals | The Founders Fund, de Peter Thiel, avalia a Enter em R$2B | #138
Investidoresvc · Peter Thiel
Co-investors · 37
Lux Capital is a venture capital firm that backs founders building transformative deep technologies, having been among the first investors in category-defining companies across AI, robotics, biotech, defense, and infrastructure.
Polaris Partners is a venture capital firm that partners with biotech and healthcare entrepreneurs to build transformational companies.
Qualcomm Ventures is the corporate venture investment arm associated with Qualcomm, backing technology companies from early to growth stage across multiple sectors.
Founders Fund is a venture capital firm that backs technology companies building transformative products.
RRE Ventures is a boutique early-stage venture capital firm that backs founders across sectors, combining decades of experience with AI-driven analysis throughout the investment lifecycle.
GV (Google Ventures) is a venture capital firm that has invested in AI and machine learning since its early days, backing more than 100 AI companies across infrastructure, life sciences, and applications.
Lightspeed Venture Partners is a global venture capital firm that backs founders from Seed through Series F and beyond, emphasizing deep, immersive partnerships with the companies it invests in.
Inovia Capital is a full-stack venture capital firm based in Canada with a presence in the EU, partnering with founders to build global technology companies.
Blume Ventures is a seed and pre-Series A investment firm headquartered in Mumbai that focuses on early-stage companies in India.
Sonder Capital is a venture firm that invests in teams and technologies aiming to transform healthcare across the medical device, diagnostic, and healthtech sectors. It positions itself as a hands-on, foundational early-stage investor that supports companies from inception through acquisition or IPO.
Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.
▶25 more co-investors
Khosla VenturesAlumni VenturesAtomicoCanaan PartnersOak HC/FTBullpen CapitalEclipse VenturesRA CapitalFontinalis PartnersDeclaration PartnersBorealis VenturesCincyTechIntuitive VenturesRedpoint VenturesFundersClubDN CapitalDCM VenturesHanabi CapitalSutter Hill VenturesUprisingSalica InvestmentsDVx VenturesRunway Growth CapitalYamaha Motor VenturesRobin Hood Ventures
Firms observed investing alongside Mithril Capital Management, from public investor directories. Shared companies are the overlap with Mithril Capital Management's recorded portfolio.
Similar investors
Khosla Ventures is a venture capital firm that backs bold, early-stage, technology-driven companies across deep tech and other sectors, providing hands-on 'venture assistance' to help founders build category-defining businesses.
A globally recognized venture capital firm designed to provide access to highly competitive venture deals to individual investors, consistently recognized for top-decile DPI performance and as one of the most active US venture firms.
INP Capital is a global investment firm that invests across the full company life cycle, from early stage to pre-IPO, seeking to identify and back emerging technology companies as they scale toward unicorn status.
The Business Development Bank of Canada (BDC) is a Canadian institution that has supported small and medium-sized businesses for over 80 years, providing financing and advisory services to companies across all industries and growth stages.
Radical Ventures is a venture capital firm that invests in companies and founders applying artificial intelligence to transform how people live, work, and play.