At a Glance
Valar Ventures was co-founded in 2010 by Peter Thiel and Andrew McCormack with a mission to back exceptional entrepreneurs building transformative fintech and technology companies. The firm takes a global approach to investing, with a particular focus on companies that are democratizing access to financial services. Valar has built a reputation for identifying category-defining fintech companies early in their lifecycle, often leading or co-leading funding rounds for companies that go on to achieve billion-dollar valuations. The firm's investment philosophy centers on backing founders who are challenging traditional financial institutions and creating more efficient, accessible financial products. Beyond capital, Valar provides strategic guidance and leverages its extensive network to help portfolio companies scale internationally. The firm has been particularly active in European fintech, having backed several of the continent's most successful neobanks and payment companies.
“Backs fintech founders globally who are building transformative financial services companies, with a focus on outside-the-US markets.”
Andrew McCormack and James Fitzgerald are managing partners and the two related persons named on every Valar fund and co-invest filing since 2014. Peter Thiel co-founded the firm with them in 2010, when it spun out of Thiel Capital, and has kept a background role rather than day-to-day management. The firm operates from Manhattan, near Madison Square Park, and deliberately concentrates outside Silicon Valley: it has been most active in Europe, particularly Germany and the United Kingdom, and has extended into Brazil and Mexico, Africa and the Middle East. That geography shows in the book. Valar made its initial investment in Xero in October 2010 at roughly a $98 million valuation and led the Series A and Series B for Wise, then TransferWise, before backing N26, Stash, Cluno and Coya.
Valar's SEC trail starts with Valar Global Fund I LP, which filed in May 2014 showing $32.47 million sold of a $35 million offering and a first sale of 25 June 2013. Global Fund II took $102.33 million in May 2015, and Global Fund III $103.93 million, against a first sale of 20 January 2016. The series then renamed. Valar Fund V closed $150 million in August 2019 after a January 2019 filing, Fund VI opened a $250 million offering in March 2020, Fund VII raised its target from $500 million to $863.3 million and reported it fully sold in November 2021, Fund VIII took $665 million in July 2022, and Fund IX $300 million in May 2024 against a first sale of 21 June 2023. At least fourteen Valar Co-Invest partnerships sit alongside the main funds. James Fitzgerald and Andrew McCormack sign every filing.
Valar Ventures primarily invests at the Seed, Series A, Series B+ stages. This means they focus on companies that are building their initial product and finding product-market fit.
Valar Ventures is headquartered in New York, NY. Many of their portfolio companies are also based in this region, though they invest across geographies.
Valar Ventures focuses on investments in Fintech, Consumer, Enterprise. Their portfolio reflects deep expertise and networks within these sectors.
Valar Ventures's typical investment check size ranges from $1M to $30M. Actual amounts may vary based on the stage, sector, and specific opportunity.
Valar Ventures manages approximately $1.5B in assets under management (AUM) across their funds.
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