Peter Thiel Looking To Bolster New Zealand’s Budding Tech Scene

by Kyle in Featured, New Zealand, Startups, Venture Capital
Comments Off on Peter Thiel Looking To Bolster New Zealand’s Budding Tech Scene 0 Like 2,187

VentureBeat is reporting today that Paypal co-founder Peter Thiel has invested $12.1 million dollars into the New Zealand technology scene.

Thiel’s Valar Ventures is teaming up with the New Zealand Venture Investment Fund for a total offering of $40 million dollars. New Zealand’s Minister of Economic Development, Steven Joyce, welcomes the funding not just for the money but also the connections Thiel brings to the table.

“[This] is a very positive development for New Zealand technology companies wanting to expand into large offshore markets,” Joyce told the Wall Street Journal. “These companies require not only capital but also getting access to the right offshore networks in those markets and building their customer base.”

More after the break
Read More…