Mithril Capital Management
Venture capitalAustin · Series B–Late Stage · 2 people tracked
Also known as MITHRIL CAPITAL MANAGEMENT LLC
Find your way into Mithril Capital Management
1,310 people in our graph share verified history with the Mithril Capital Management team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Mithril invests with a long-term, 'Building to Last' philosophy, seeking teams that use technology to create valuable and lasting businesses, often in industries overdue for transformation. The firm describes itself as agnostic to sector, geography, and conventional credentials, favoring broad curiosity, deterministic alignment, constructive skepticism, and capital discipline. It backs what it calls 'hidden champions' at critical inflection points, investing in size and with conviction to unlock long-term growth. Portfolio achievements span fusion energy, robotic surgery, power-efficient silicon, diabetes treatments, live-experience consumer internet, robotics-driven supply chains, decentralized finance infrastructure, and antibody-based immune therapies.
Source: firm website, verified Sep 1, 2026.
Team · 2 people
from the firm's website
Founder mafia
4 people who came through Mithril Capital Management went on to found or lead other companies.
What they invest in
from 19 of 33 portfolio companiesAI & Machine Learning ×7SaaS ×7Biotech ×6Healthtech ×4Deep Tech ×3Medical Devices ×3Advanced Manufacturing ×2Cleantech ×2
HQs:United States×20Australia×1
Investments · 33 tracked
founders shown can be your intro pathBy year:2025 · 12023 · 12022 · 12021 · 22020 · 22018 · 22017 · 12016 · 12015 · 12014 · 113 dated
BiotechWaltham, US
Tillman U. Gerngross(Executive Officer, Director)Lynn Connolly(Executive Officer)Eric Kimble(Executive Officer)inHalley Gilbert(Executive Officer)Rebecca Dabora(Executive Officer)inEllie Hershberger(Executive Officer)
Board seatAjay Royan· per SEC Form D · $335.5M raise · filed Apr 2021
Co-investorsGV (Google Ventures)Polaris PartnersVeltro Argento
Fractyl develops therapies for obesity and type 2 diabetes, focusing on non-drug-based approaches rooted in understanding metabolic disease mechanisms.
BiotechHealthtechMedical DevicesLexington, US
HARITH RAJAGOPALAN(Executive Officer, Director)inJAY CAPLAN(Executive Officer, Director)inJay Caplan(Executive Officer, Director)inHarith Rajagopalan(Executive Officer, Director)inLISA DAVIDSON(Executive Officer)inDiane Marcou(Executive Officer)in
Board seatAjay Royan· per SEC Form D
Co-investorsBessemer Venture PartnersCatalio Capital Management, LPEmergent Medical Partners, LLPPolaris PartnersVeltro Argento
Invivyd develops monoclonal antibody medicines for the prevention and treatment of serious viral infectious diseases, starting with COVID-19 and other high-need indications.
BiotechHealthtech
Co-investorsBain Capital Life SciencesForesite CapitalMRL Ventures FundPremji Invest
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
Alexander Karp(Executive Officer, Director)Peter Thiel(Director)inStephen Cohen(Director)Nathan Gettings(Executive Officer, Director)Joe Lonsdale(Co-founder)in
BoardColin Anderson(Executive Officer)
Co-investors137 Ventures8VCA*Akkadian VenturesAllied Venture PartnersArtis Ventures+35 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
Co-investorsACTIVATE CAPITAL PARTNERSConstellation Technology VenturesPUSH VenturesWIND 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
San Carlos, US
Frederic Moll(Executive Officer, Director)David Styka(Executive Officer)
BoardBijan Salehizadeh(Director)inAja Royan(Director)Peter Hebert(Director)
Board seatAjay Royan· per SEC Form D · $220M raise · filed Nov 2018
Co-investorsCoatue ManagementNaviMed CapitalRsquaredViking Global Investors
Advanced ManufacturingBiotechHardwareLebanon, US
Tillman Gerngross(Director)Errik Anderson(Director)Warren 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 InvestorsSands Capital VenturesSV Life Sciences
Roswell, US
Samay Kohli(Executive Officer, Director, Promoter)Akash Gupta(Director, Promoter)Vartul Jain(Executive Officer)Alexandre Carvalhal(Executive Officer)
BoardKarthik Reddy(Director)inBinny Bansal(Director)
Board seatAjay Royan· per SEC Form D · $138.3M raise · filed Nov 2023
Co-investorsBlume Ventures
Helion develops fusion energy systems designed to generate clean electricity for commercial use.
Advanced ManufacturingCleantechClimate TechDeep TechEnergyHardwareSeattle, US
David Kirtley(Co-founder & CEO)inChris Pihl(Co-founder & CTO)inJohn Slough(Co-founder)inGeorge Votroubek(Co-Founder & Chief Scientist)inAnthony Pancotti(Co-founder)in
BoardSam Altman(Director)
Board seatAjay Royan· per SEC Form D
Co-investorsAntiCongruent VenturesSoftBank GroupSoftBank Vision FundY CombinatorCapricorn Investment Group+3 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(CEO & Co-Founder)inJuan Salcedo(Engineering Fellow & Co-Founder)inJUAN SALCEDO(Executive Officer)inALON MOZES(Executive Officer, Director)inDennis Moses(Chief Technical Officer)inAndres Carrillo(VP of Product)in
Board seatAjay Royan· per SEC Form D
Co-investorsIntuitive VenturesNorwest Venture PartnersVivo CapitalMITHRILB Capital GroupMirae Asset Venture Investment+1 more
Santa Clara, US
Board seatAjay Royan· per SEC Form D
Co-investorsCelesta CapitalMayfield FundWalden CatalystTechnology ImpactWCV
Kansas City, US
Board seatAjay Royan· per SEC Form D · filed Apr 2025
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-investorsMITHRILRazor'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
Wireless LAN chipsets (ATHR); acquired by Qualcomm in 2011.
San Diego, US
Co-investors33NAVVICCP Venture PartnersMayfield FundNew Enterprise Associates (NEA)Qualcomm Ventures+4 more
Co-investorsBeast VenturesLux CapitalPractica CapitalSonder Capital
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)
Co-investorsAlleyCorpKluz VenturesRazor's Edge VenturesAlley Robotics VenturesRRE Ventures
San Diego, US
Douglas A. Gourlay(Executive Officer, Director)
BoardChristopher C. Pohle(Director)
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(Executive Officer, Director, Promoter)Joe Callahan(Founder)in
BoardHoward Deshong(Director)Adam Garone(Director)Paul Leggett(Director)
Co-investorsBullpen CapitalHinge CapitalNorwest Venture PartnersRethink ImpactThirty Five Ventures (35V)
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
GreyOrange provides AI-driven supply chain orchestration and inventory optimization software for retailers and third-party logistics providers.
AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainRobotics
Co-investorsInventus Capital Partners
Nuvia provides inbound and outbound AI agents that generate, qualify, and convert leads into sales automatically.
AI & Machine LearningSaaSSales Tech
Co-investorsCapria VenturesNXTPBlackRockFidelity InvestmentsGilgamesh Ventures
Nuvia offers AI agents that manage customer conversations across channels (WhatsApp, chat, email, social) to handle support, prospecting, and revenue operations from first contact to closing a sale.
AI & Machine LearningSaaSSales Tech
Co-investorsAmador HoldingsBlackRockFidelity Investments
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(CEO & Co-Founder)in
Co-investorsBlockchain CapitalCanaan PartnersCoinbase VenturesDeclaration PartnersDigital Currency GroupMulticoin Capital+3 more
AppDirect operates a B2B commerce platform for selling, buying, and managing recurring technology services, letting businesses launch white-labeled or internal IT marketplaces.
B2B MarketplacesCloud ComputingSaaSSan 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)
Co-investorsFoundryKensington Capital Partners LimitedInovia CapitalJ.P. Morgan Asset ManagementMITHRILStarVest Partners
Co-investorsAlphi CapitalBain Capital VentureMcWin Capital PartnersPappas CapitalTusk Venture Partners
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
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 · 8
IPOs and acquisitions across the tracked portfolioAdagio TherapeuticsNASDAQ: IVVDFractylNASDAQ: GUTSInvivydNASDAQ: IVVDPalantirNASDAQ: PLTRSTEMNYSE: STEMAvitideacq. by RepligenAtheros Communicationsacq. by QualcommDonate Nowacq. by GoFundMe
Portfolio news
latest coverage across their companiesNuvia · pedrobmesquita.substack.com · Sep 2, 2026
Invivyd · investors.invivyd.com · Sep 1, 2026
STEM · societyforscience.org · Aug 14, 2026
Helion Energy · en.wikipedia.org · Aug 8, 2026
Fractyl · investing.com · Jul 15, 2026
Frequently asked questions
- How many investments has Mithril Capital Management made?
- Mithril Capital Management has 10 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does Mithril Capital Management invest at?
- Mithril Capital Management invests at the Series B, Series C, Late Stage 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 Mayfield Fund, August Capital, B Capital Group, among 50 tracked co-investors.
Media · Podcasts & interviews
featuring the teamPeter 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
The Untold Story of Peter Thiel and Founders Fund (ft. Mario Gabriele)
Not Boring Radio · Peter Thiel
Peter Thiel's Founders Fund leads a 2nd round into Icon
Icon · Peter Thiel · youtube.com
Gestire 11 MILIARDI 📈 Founders Fund, il fondo di Peter Thiel
Marcello Ascani · Peter Thiel
Co-investors · 36
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.
Polaris Partners is a venture capital firm that partners with biotech and healthcare entrepreneurs to build transformational companies.
GV (Google Ventures) is a venture capital firm that has invested in artificial intelligence and machine learning since its early days, building a global portfolio of more than 100 AI companies across infrastructure, life sciences, and applications.
Founders Fund is a venture capital firm that backs technology companies building transformative products.
Lightspeed is a global venture capital firm that has spent over two decades backing innovative companies as an early and first investor.
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.
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.
Qualcomm Ventures is the corporate venture investment arm associated with Qualcomm, backing technology companies from early to growth stage across multiple sectors.
Canaan Partners is a venture capital firm with over 30 years of history, backing companies across technology and healthcare sectors through close, hands-on partnerships with founders.
Bullpen Capital is an early-stage venture firm that has funded over 100 companies, focusing on businesses that have found product-market fit but are overlooked by other investors.
Blume Ventures is a seed and pre-Series A investment firm headquartered in Mumbai that focuses on early-stage companies in India.
▶24 more co-investors
Sonder CapitalDeclaration PartnersIntuitive VenturesAndreessen HorowitzAccelKhosla VenturesAlumni VenturesRedpoint VenturesAtomicoFundersClubDN CapitalDCM VenturesHanabi CapitalEclipse VenturesRA CapitalSutter Hill VenturesFontinalis PartnersSalica InvestmentsDVx VenturesRunway Growth CapitalBorealis VenturesCincyTechYamaha 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.
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