Peter Thiel Launched J.D. Vance's Venture Capital Career, But A Former Colleague Says He Was Rarely In The Office

Billionaire investor and PayPal co-founder Peter Thiel played a pivotal role in launching J.D. Vance's venture capital career in 2016.

Thiel, known for his influential presence in Silicon Valley, brought Vance into Mithril Capital Management, a venture capital (VC) firm he founded. The opportunity came shortly after Vance gained national attention for his memoir "Hillbilly Elegy," which portrayed the struggles of the white working class in America's Rust Belt. The memoir's success positioned Vance as a prominent voice in political and social discourse, and Thiel's endorsement further elevated his profile.

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Despite the promising start, Vance's tenure at Mithril was marked by a notable absence. According to former colleagues, Vance rarely, if ever, appeared in the office. One person who worked at Mithril in 2016 told The Wall Street Journal that they never saw Vance at the office during his time there. Another former colleague recalled sporadic sightings of Vance but noted that his focus seemed to be promoting his book rather than engaging in the day-to-day operations of the VC firm.

Neither person recalled any noteworthy deals Vance worked on while at Mithril.

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"I don't think he had a long enough career in venture to have demonstrated the successful VC narrative that's being expressed," prominent venture capitalist and Democratic donor David Hornik told The Wall Street Journal.

During his brief stint at Mithril, Vance forged a lasting connection with Thiel, whom he first met at a talk Thiel gave at Yale University in 2011. Vance said Thiel encouraged him to pursue entrepreneurship rather than a career in law.

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According to Politico, Thiel gave Vance $15 million for his 2022 campaign in Ohio—the biggest contribution ever to a single Senate race.

After leaving Mithril in 2017, Vance joined Revolution, an investment firm started by AOL co-founder Steve Case. Former co-workers remember Vance's impact on the firm — he was lead partner or co-lead on 14 deals, including some in defense and artificial intelligence, one person told the Wall Street Journal.

Vance, who eventually served on the Revolution board, also invested in food production startup AppHarvest, which developed indoor farms in Appalachia. Shortly after Vance left Revolution, AppHarvest faced five lawsuits for misleading regulators and investors and eventually filed for bankruptcy in 2023.

Vance left Revolution to co-found Narya, an Ohio-based venture firm. He received significant backing from Thiel.

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