Billionaire Investor, Peter Thiel announced the opening of his new venture capital firm, Mithril Capital Management.

Mithril will be an addition to Thiel's other investment firms, Founders Fund, which deals with early stage investment, and Clarium Capital, a macroeconomic hedge fund.

Although it has not been detailed how much of a financial contribution Thiel has made to the fund, it is known that he is the biggest investor.

The firm is headed by Thiel and Ajay Royan, the former director of Clarium. Mithril aims to work with start-ups with existing venture capital and that want to increase it that much more. The firm is willing to work with companies on a global scale, however they do not intend on working with companies who hope to go public.

"We're looking for inflection points," Mr. Royan said to The New York Times. "We're not looking for companies that are a done deal; we want companies that are about to hit a growth stage."

Similar to Thiel's Founders Fund, Mithril will work with start-ups that are facing difficulties.

"Mithril will play a patient, focused, and pivotal role in helping the world's most outstanding creative minds solve vexing problems," Thiel said in a statement.

The middle stage of venture capital lacks investors compared to the early and late stages. This is beneficial for Mithril because the middle spectrum is where the company stands.

"Two years ago, we were watching what was happening in the Valley and beyond," Royan said. "There is not enough capital in the intensive growth stage."

Mithril intends on staying away from large companies, as enough investment is already put into them.