# Valar Ventures [[Peter Thiel]]'s internationally focused venture capital arm, co-founded with Andrew McCormack and James Fitzgerald in 2010. While [[Founders Fund]] concentrates on US-based defense and deep tech, Valar targets technology startups outside Silicon Valley — primarily in Europe, the UK, and Canada. ## Relationship to Thiel Capital In a 2019 congressional questionnaire, [[Michael Kratsios]] described Valar Ventures as a "related subsidiary" of [[Thiel Capital]], alongside Founders Fund, [[Mithril Capital]], Thiel Macro, Clarium Capital, and the [[Thiel Foundation]]. This framing reveals the degree to which Thiel's investment vehicles operate as a unified financial empire rather than independent firms. ## Notable Investments Valar has backed major international fintech companies including TransferWise (now Wise) and N26, extending Thiel's influence into European financial infrastructure. ## Significance Valar is the least-discussed arm of the Thiel investment empire but may be the most strategically important for understanding his global reach. While US media focuses on Founders Fund's defense tech bets, Valar quietly builds Thiel's network across European tech ecosystems — potentially relevant as NATO allies increasingly adopt US defense tech platforms like [[Palantir]]. ## See Also - [[Peter Thiel]] - [[Founders Fund]] - [[Mithril Capital]] - [[Thiel Capital]]