Where does Ajay Royan work?

Ajay Royan is Managing Partner at Mithril Capital Management and Board director at Adagio Therapeutics and Board director at Grey Orange International and Board director at Helion Energy.

What check size does Ajay Royan write?

Ajay Royan typically writes checks of $20M – $100M.

What boards does Ajay Royan sit on?

Ajay Royan holds tracked board seats at Adagio Therapeutics, Ankyra Therapeutics, Auris Surgical Robotics, Auris Surgical Robotics, Avitide, Fractyl, Grey Orange International, Helion Energy, Neocis, Nuvia.

Where did Ajay Royan go to school?

Ajay Royan studied at Yale University (B.A.).

Ajay Royan

InvestorFounder

Managing Partner at Mithril Capital Management · Board director at Adagio Therapeutics · Board director at Grey Orange International · Board director at Helion Energy

United States

Writes $20M – $100M checks · typically $50M

About

Co-founder of Mithril, which he established in 2012 alongside Peter Thiel.

Board director at Adagio Therapeutics

Intro paths

→

In turn, Ajay can intro founders to Adagio Therapeutics's investors below.

Adagio Therapeutics's investors · 3

Mithril Capital ManagementAustin · since 2021 Polaris PartnersBoston · $500K – $5M checks · since 2022 Veltro ArgentoStamford · since 2020

Co-founders at Adagio Therapeutics

Tillman U. GerngrossExecutive Officer, Director

Board director at Grey Orange International

Intro paths

→

In turn, Ajay can intro founders to Grey Orange International's investors below.

Grey Orange International's investors · 2

Blume VenturesMumbai · $650K – $36M checks · since 2023 Mithril Capital ManagementAustin · since 2023

Co-founders at Grey Orange International

Samay KohliExecutive Officer, Director, Promoter

Akash GuptaDirector, Promoter

Board director at Helion Energy YC S14

Intro paths

Ajay went through Y Combinator (Summer 2014) — any YC alum in your network can reach them through the YC community.

Their group partner at YC was Garry Tan, President & CEO of Y Combinator — the partner who ran Helion Energy's batch and knows the company first-hand. YC profile ↗

→

In turn, Ajay can intro founders to Helion Energy's investors below.

Helion Energy's investors · 10

AntiSan Juan · $250K – $30M checks · since 2015 Capricorn Investment GroupNew York · since 2015 Congruent VenturesSan Francisco · $100K – $5M checks · since 2015 Lightspeed Venture PartnersMenlo Park · $1.7M – $87M checks · since 2025 Mithril Capital ManagementAustin · since 2015 Sam Altmansince 2015 SoftBank GroupTokyo · since 2015 SoftBank Vision FundLondon Thrive CapitalNew York · $500K – $25M checks · since 2015 Y CombinatorSan Francisco · $500K checks · since 2014

Co-founders at Helion Energy

David KirtleyFounder/CEO

Chris PihlCo-founder & CTO

John SloughCo-Founder & Chief Scientist

George Votroubek

Anthony PancottiCo-founder

Dr. David KirtleyCo-founder & CEO

Dr. George VotroubekCo-Founder & Chief Scientist

Dr. John SloughCo-founder

Experience

Mithril Capital Management LLCManaging General Partner and Foundercurrent2012 — presentUnited States
ClariumManaging Director2003 — 2012
Deloitte/BraxtonAnalyst2000 — 2002

Education

Yale UniversityB.A.1996 — 2000

Skills & more

StrategyLeadershipManagementInvestmentsVenture CapitalFinancePrivate EquityHedge FundsAlternative InvestmentsCorporate DevelopmentValuationStart-ups

From Ajay's professional profile.

Deals · 9

Pollen, Inc.Board seat

via Mithril Capital Management · filed Apr 2025

Grey Orange InternationalBoard seat

via Mithril Capital Management · filed Nov 2023 · $138.3M raise

Ankyra TherapeuticsBoard seat

via Mithril Capital Management · filed Sep 2021 · $45M raise

Adagio TherapeuticsBoard seat

via Mithril Capital Management · filed Apr 2021 · $335.5M raise

NeocisBoard seat

via Mithril Capital Management · filed Oct 2020 · $71.8M raise

Auris Surgical RoboticsBoard seat

via Mithril Capital Management · filed Nov 2018 · $220M raise

AvitideBoard seat

via Mithril Capital Management · filed Aug 2018 · $6.2M raise

Spaceflight IndustriesBoard seat

via Mithril Capital Management · filed Mar 2018 · $210.7M raise

Helion EnergyBoard seat

via Mithril Capital Management · filed Jul 2015 · $21.2M raise

Attribution from SEC filings, press coverage, and firm rosters.

Other disclosed investments

Board seats

FractylNuvia

Per SEC Form D filings.

Colleagues at Mithril Capital Management

Crystal McKellar

Managing Director at Mithril Capital Management

Peter Thiel

Co-founder & Partner at Founders Fund

Network9

Sam AltmanScout

Co-founder & CEO of OpenAI; former President of Y Combinator

Bill FordScout

Founder Emeritus at Fontinalis Partners

Brandon ReevesScout

Partner at Lux Capital

Karthik ReddyScout

Co-Founder and Partner at Blume Ventures

Ravi MhatreScout

Partner and Co-Founder at Lightspeed Venture Partners

Crystal McKellar

Managing Director at Mithril Capital Management

Dustin Moskovitz

Investor at Good Ventures

John Rice

Director of Life Sciences at CincyTech

Raviraj Jain

Partner at Lightspeed Venture Partners

Investors connected to Ajay in public investor directories — a warm-intro map.

Frequently asked questions

Who is Ajay Royan?: Co-founder of Mithril, which he established in 2012 alongside Peter Thiel.
Where does Ajay Royan work?: Ajay Royan is Managing Partner at Mithril Capital Management and Board director at Adagio Therapeutics and Board director at Grey Orange International and Board director at Helion Energy.
What check size does Ajay Royan write?: Ajay Royan typically writes checks of $20M – $100M.
What boards does Ajay Royan sit on?: Ajay Royan holds tracked board seats at Adagio Therapeutics, Ankyra Therapeutics, Auris Surgical Robotics, Auris Surgical Robotics, Avitide, Fractyl, Grey Orange International, Helion Energy, Neocis, Nuvia.
Where did Ajay Royan go to school?: Ajay Royan studied at Yale University (B.A.).