Latest news with #ValarVentures
Bloomberg
01-07-2025
- Business
- Bloomberg
Peter Thiel-Backed Fintech Investor Sells $70 Million Stake in Wise
Valar Ventures, a fintech fund backed by Peter Thiel, sold a nearly £50 million ($68.8 million) stake in Wise Plc, exiting a position it built as one of the international payments firm's early investors. The Valar Velocity Fund 1 LP sold about 4.8 million Class A shares in Wise overnight at a price of £10.30 per share through an accelerated share sale, according to terms seen by Bloomberg.
Time of India
06-06-2025
- Business
- Time of India
This company founded by PayPal co-creator Peter Thiel may have received a $40 million investment from Jeffrey Epstein
Image credit: Canva A company co-founded by PayPal co-creator Peter Thiel may have received a $40 million investment from Jeffrey Epstein . According to a report by The New York Times (NYT), Epstein made this investment in Valar Ventures, a venture capital firm associated with Thiel. The report claims that Epstein invested a substantial amount in Valar Ventures in 2015 and 2016, not long before he died in 2019. This financial link between Thiel's firm and Epstein had not been publicly disclosed previously. As per a confidential financial analysis of Epstein's estate and a statement from a Valar spokesman seen by the NYT, the $40 million investment is now reportedly worth close to $170 million. Epstein's estate is reportedly benefiting from the returns of this investment. The NYT report sheds light on Thiel's financial ties to Epstein, even as Thiel has publicly discussed Epstein in various contexts, including in relation to other tech figures. Valar Ventures, like other companies associated with Thiel, is named after a creature from J.R.R. Tolkien's mythos. How tech world shared its ties with Jeffrey Epstien During this time, Epstein was reportedly seeking to rehabilitate his reputation following his 2008 conviction for procuring a child for prostitution. The billionaire was known for funnelling money into technology and science ventures, with some speculating that he aimed to reposition himself as a financial manager for the tech elite. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thousands Are Saving Money Using This Wall Plug elecTrick - Save upto 80% on Power Bill Click Here Undo Several prominent figures in tech, including Google co-founders Larry Page and Sergey Brin, LinkedIn co-founder Reid Hoffman, and Microsoft CEO Bill Gates, have faced questions regarding their connections to Epstein. In 2023, Elon Musk was also subpoenaed in a legal case tied to Epstein. Epstein maintained relationships with many powerful and influential individuals, some of whom were business associates. The latest revelations about Epstein's substantial investment in a Thiel-backed company are particularly ironic, given Thiel's public commentary on Epstein as more of a cultural symbol than someone he knew. Epstein's links to Thiel were first reported in 2023. Realme GT 7 Dream Edition: Unboxing and first look!
Yahoo
05-06-2025
- Business
- Yahoo
Epstein's Secret Investment With GOP Mastermind Nets Estate $130 Million
Republican megadonor Peter Thiel's firm struck an investment deal with Jeffrey Epstein that has netted the accused sex trafficker's estate $130 million, making it its largest remaining asset. Years before Epstein committed suicide in 2019, he invested $40 million into a pair of funds managed by Valar Ventures, a firm that was co-founded by Thiel, The New York Times reported Wednesday. His investment has since grown to be worth $170 million. Those investments, made in 2015 and 2016, remained a secret until the Times report. They shed additional light on the relationship between Thiel, the Palantir Technologies co-founder who has become one of the U.S.'s most influential conservatives, and Epstein, who is one of the country's most notorious figures. Reports revealing meetings between Epstein and Thiel first emerged in 2023, but the extent of their relationship remained murky. The Daily Beast uncovered emails that showed Thiel and Epstein were scheduled to have multiple meetings in 2014, including a dinner between the two men and Woody Allen. Epstein, in addition to being a registered sex offender since 2008, was known in elite circles as a socialite and financier. He is believed to have made his millions by charging hefty fees for providing tax and estate services to billionaires. It was rare for Epstein to make investments, The Times reported, but he chose to do so with Thiel and Valar Ventures, which specializes in providing start-up capital. Thiel, 57, did not respond to a request for comment from the Daily Beast. Forbes reports he is worth $20.8 billion, making him about the 100th richest person in the world. Aaron Curtis, a spokesperson for Valar Ventures, said that a firm representative met with Epstein in 2014 because he was considered a 'well-known adviser to world leaders, top universities, and philanthropic organizations.' Curtis told The Times that the firm 'hopes that the eventual distribution of these investments can be put to positive use by helping victims move forward with their lives.' Epstein committed suicide while awaiting trial in a Manhattan detention facility on federal sex-trafficking charges. Much of his wealth was dispersed to his roughly 200 victims as restitution, with totals ranging from $500,000 to $2 million per victim. Those trafficked or abused by Epstein are unlikely to be given any additional money from the Valar Ventures investment, The Times reports. Rather, the money is 'more likely' to be distributed to one of Epstein's ex-girlfriends, along with 'two of his long-term advisers, who have been named the beneficiaries of his estate,' according to The Times. The Valar Ventures investment makes up the vast majority of the remaining value in Epstein's estate. The estate is worth approximately $200 million in total, down from the $600 million he had in assets at the time of his arrest. The $170 million investment is still 'locked up,' according to The Times, meaning the funds cannot be paid out in cash. This is likely because Valar Ventures is a venture capital firm, and investments of that nature are typically imposed extended lock-up periods to allow the companies being funded to grow. Epstein's suicide has been subject to many conspiracy theories, particularly from the right. Thiel addressed some of these theories himself in a Financial Times op-ed in January, in which he described Epstein as a 'child sex offender.' In August, he went full tinfoil hat on Epstein's death while talking to podcaster Joe Rogan, suggesting Bill and Melinda Gates may have had something to do with it. FBI Director Kash Patel, who President Donald Trump appointed this year, reaffirmed in May that all evidence points to Epstein dying by suicide.
Time of India
04-06-2025
- Business
- Time of India
Jeffrey Epstein's hidden wealth revealed: Investment in Peter Thiel's firm now nets millions for his estate
Jeffrey Epstein, the convicted sex offender who died by suicide nearly six years ago, invested $40 million in two funds managed by Valar Ventures, a New York-based firm co-founded by Silicon Valley mogul Peter Thiel, according to a confidential estate financial report obtained by The New York Times. Tired of too many ads? go ad free now These investments, made during 2015 and 2016, have now grown to an estimated $170 million, making them the largest remaining asset in Epstein's estate. The financial link between Epstein and Thiel's firm had remained undisclosed until now. Valar Ventures focuses on tech-based financial services startups, and the firm's representative described Epstein in 2014 as a 'well-known adviser to world leaders, top universities and philanthropic organizations.' The estate, which currently holds over $200 million in assets, has distributed hundreds of millions in settlements to Epstein's victims and the US Virgin Islands, where Epstein maintained a residence. Yet the substantial returns on the Valar investment are unlikely to benefit the roughly 200 victims who previously accepted monetary settlements, signing releases preventing further claims against the estate or associated individuals. Instead, the funds are expected to go to one of Epstein's former romantic partners and two longtime advisers who are designated beneficiaries of his estate. A confidential document about the estate's 1953 Trust, the main vehicle for asset distribution, shows Epstein intended to forgive about $19 million in loans, including some to entities 'closely associated' with the estate co-executors and advisers Darren Indyke and Richard Kahn. Tired of too many ads? go ad free now , a lawyer for several victims, criticized federal authorities for their lack of pursuit of civil forfeiture actions after Epstein's death. 'While we are grateful for the government's prosecution of Epstein and Maxwell, the truth is that, both before and afterwards, the government was largely asleep at the switch,' Boies said. Civil forfeiture could have allowed the government to seize remaining estate assets potentially usable for victim compensation. However, a person familiar with the case, quoted by NYT, said federal prosecutors considered this but rejected it to avoid delaying settlement payments. Epstein amassed his wealth by charging high fees for tax and estate services to select billionaires, including retail magnate Leslie Wexner and private equity investor Leon Black. Black reportedly paid Epstein over $158 million in fees, and Epstein's Manhattan mansion was once owned by Wexner. Aaron Curtis, speaking for Valar, said the firm 'hopes that the eventual distribution of these investments can be put to positive use by helping victims move forward with their lives.' However, the Valar investments remain illiquid due to typical venture capital lock-up periods, which means cash disbursements to victims or other parties are delayed. At his death, Epstein's assets- including investments, properties, artwork, and jewelry- were valued at around $600 million. The estate's most recent public filing, as of March 31, lists assets exceeding $131 million, including roughly $50 million in cash, though investment values have not been updated since Epstein's death. Meanwhile, a federal civil lawsuit filed by Boies' firm seeks to represent unsettled victims in a potential class action against the estate executors. Previous settlements ranged from $500,000 to $2 million per victim. Once this lawsuit is resolved, remaining estate funds will be distributed according to Epstein's will, which directs assets to the 1953 Trust.
The Verge
04-06-2025
- Business
- The Verge
Peter Thiel's Jeffrey Epstein connections.
Isn't it funny how all these tech and science men have ties to Epstein? I wonder why! Anyway, Epstein invested with Thiel's Valar Ventures — and that investment hasn't previously been disclosed. Guess what that means? 'There's a good chance much of the windfall will not go to any of the roughly 200 victims whom the disgraced financier abused when they were teenagers or young women.'
