Thiel Capital's Jack Selby raises $300M Fund II for Copper Sky Capital, doubles down on Arizona hard-tech bets like Etched
Tags VC · Hardware · AI · Infrastructure
Jack Selby, managing director at Thiel Capital, is raising a $300 million second fund for his Copper Sky Capital vehicle, per an SEC Form D filing. Fund I backed Etched (AI inference chips), which recently secured TSMC 3nm allocation. Selby's thesis focuses on hard-tech startups in Arizona's growing semiconductor ecosystem, leveraging TSMC's Phoenix fabs and Thiel network deal flow.
Technical significance
The $300M fund size and TSMC 3nm access for portfolio company Etched signal that Arizona is maturing into a credible hard-tech hub beyond just fab construction. Selby's Thiel Capital affiliation provides deal flow into companies requiring patient capital and manufacturing partnerships. This fund will be a bellwether for whether US-based semiconductor startups can raise growth rounds domestically without relying solely on strategic corporate investors.