'Hillbilly Elegy' author, Peter Thiel partner on VC fund
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"Hillbilly Elegy" author J.D. Vance and fellow venture capitalists including Peter Thiel have raised $93 million for a new venture capital firm to be based in Cincinnati, Ohio.
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The firm will be called Narya Capital, and it will focus on early-stage venture capital, according to the firm's website. Narya Capital wants to raise $125 million, according to Axios.
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Thiel and fellow billionaire Marc Andreessen will be some of the fund's backers, Axios reported. Like Vance, both Andreessen and Thiel have Midwestern ties: Andreessen grew up in Iowa and Wisconsin, while Thiel's family moved to Cleveland, Ohio, when they first emigrated from Germany.