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Peter Thiel Opens a New Venture Capital Firm

Peter Thiel is putting his Facebook proceeds back to work.

The billionaire investor, best known for his contrarian views and his early bet on the social network, has opened a new venture capital firm, Mithril Capital Management, with a $402 million fund. While it’s unclear how much Mr. Thiel, who sold some $640 million worth of shares in Facebook’s I.P.O., contributed to the pot, he is the fund’s largest investor, according to a statement issued on Wednesday.

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