This Week in Peter Thiel — 6 Pieces of News
Do you have your go-to searches in your news app or news aggregator site? “Peter Thiel” is one of mine. I have found that (1) there’s always new pieces of news, and (2) the stuff he is up too is always interesting.
For one, it’s interesting because he is so dynamic — he has his hands in many different things. He really cares about making the future better, and fights against stagnation, a topic he has talked about many times in public forums over the past decade.
It’s also interesting because it serves as good filter as to what technologies of the future might be getting off the ground. While not a comprehensive coverage of the whole technology startup ecosystem, Thiel’s investment filter has an outstanding track record.
In no particular order, here are short summaries of 6 Thiel news pieces from the last week:
1. Leads $125M funding round of ATAI Life Sciences, aiming to make psychedelic drugs to treat mental health disorders
ATAI is focused on developing synthetic and semi-synthetic drugs, rather than using plants and extracts.
2 examples of drugs they are already working on are ar-ketamine for treatment-resistant depression, and ibogaine for opioid addiction.
2. Psilocybin-maker Compass Pathways up over 300% since IPO in September
Christian Angermayer, a co-founder of ATAI and serial entrepreneur, was also one of the earliest investors in Compass Pathways. It seems the ATAI business was in a way an extension of the Compass concept.
Compass Pathways is focused on making artificial psilocybin, the active ingredient in ‘magic mushrooms.’
Compass became the first psychedelics company to IPO on the NASDAQ in September, and shares are up over 300%.
3. Partners with Elevat3 VC growth fund to invest in European startups
Besides the ATAI and Compass Pathways deals, Thiel’s Founders Fund joined Angermayer as a strategic partner in Angermayer’s €100M European growth startup fund, Elevat3.
4. Joins AbCellera board of directors
AbCellera is a Vancouver-based biotech company. They have developed a new technology that “searches, decodes, and analyzes natural immune systems to find antibodies that can be used to prevent and treat disease.”
The technology is supposed to open up new opportunities for treatment, and make the drug development process faster.
AbCellera has also partnered with Eli Lilly this year on a Covid-19 neutralizing antibody treatment called bamlanivimab.
5. Partners with billionaire Richard Li to launch $796M SPAC to invest in SE Asia companies
Thiel is getting in on the SPAC boom of 2020, deploying new vehicle Bridgetown Holdings in partnership with Richard Li. Another strategic partnership and geographical coverage play, as with Angermayer in Europe, Bridgetown will focus on merging with large businesses in the Southeast Asia region.
Richard Li has extensive buyout and operating experience in the media, telecom, and insurance sectors, among others, in Hong Kong and the Southeast Asia region.
Bridgetown Holdings is already rumored to be in talks to merge with Indonesian e-commerce company Tokopedia at a valuation of $8 to $10 Billion.
6. Palantir has doubled in value since its IPO
Thiel is a Cofounder and Chairman of the Board of Palantir Technologies, which just IPO’d in September. The stock continues to do well, as it is up over 200% so far, with a current Market Cap of $47 Billion.
Summary and major takeaways:
- Thiel continues to be extremely active and is up to a lot of stuff
- He is going heavier into life sciences and biotech — passion for that space
- Broad global investment reach via strategic partnerships in search for next great opportunities
