Mithril Capital Management is a venture capital firm founded in 2012 by Peter Thiel and Ajay Royan. It is a family of long-term venture capital funds that partners with teams using technology to build valuable and lasting businesses across sectors including software, biotech, and energy.
They made 1 investment in the last 12 months. Average disclosed round size is $142.4M (across 46 rounds with reported amounts).
Portfolio
29
Fund Size
$740M
Top Stage
Series C
Last 12 Mo
1
Team
AR
Ajay Royan
Managing General Partner
SI
Santiago Iturbe
Managing Director
LR
Lenny Raymond
Senior Principal
GB
Giovanna Bolla
Associate
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
51 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Helion | Series E | $465M | Jun 2026 |
| Helion | Series G | $500M | Jan 2026 |
| Helion | Series F | $425M | Jan 2025 |
 Neocis | Unknown | $20M | Jan 2024 |
 GreyOrange | Series D | $135M | Jan 2023 |
 SilverRail Technologies | Series C | $70M | Jan 2023 |
 ForSight Robotics | Series A | $55M | Jul 2022 |
 Oma | Unknown | $29M | Jun 2022 |
 AiFi | Series B | $65M | Mar 2022 |
| GreyOrange | Growth | $110M | Jan 2022 |
| Helion | Series F | — | Nov 2021 |
 Paxos | Series D | $300M | Apr 2021 |
 Adagio | Series C | $336M | Apr 2021 |
| FFlex Logix | Series D | $55M | Mar 2021 |
| Helion | Series E | $500M | Jan 2021 |
 Glance InMobi Pte. Ltd. | Growth | $145M | Dec 2020 |
| Paxos | Series C | $142M | Dec 2020 |
 Adagio Therapeutics | Series B | $80M | Nov 2020 |
 Nuvia | Series B | $240M | Sep 2020 |
 Glance | Unknown | $145M | Jan 2020 |
 Nuvia | Series B | $240M | Jan 2020 |
| Adagio | Series B | $80M | Jan 2020 |
| Glance InMobi Pte. Ltd. | Growth | $45M | Sep 2019 |
| Glance | Unknown | $250M | Jan 2019 |
 Figure | Series C | $50M | Apr 2018 |
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Top Co-Investors
GV10 shared
Lux Capital7 shared
Lightspeed Venture Partners7 shared
Polaris Partners7 shared
Capricorn Investment Group6 shared
OrbiMed6 shared
Y Combinator5 shared
Bessemer Venture Partners5 shared
India Quotient5 shared
General Catalyst4 shared
Bullpen Capital4 shared
Omega Funds4 shared
Eclipse3 shared
Senator Investment Group3 shared
Blume Ventures3 shared
Domain Associates3 shared
Alta Park Capital3 shared
Anti Fund3 shared
Last updated: 7 October 2026