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PayPal?s Peter Thiel Sets Up Venture Capital Fund

Reuters A little bit of PayPal founder Peter Thiel?s wealth will help New Zealand technology businesses thanks to the launch of a new venture capital project. The U.S. entrepreneur, who was one of Facebook?s first investors, is to establish a new 40 million New Zealand dollar (US$32 million) Kiwi-focused venture capital fund jointly with the New Zealand Venture Investment Fund, or NZVIF, to support local technology developments.
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