Peter Thiel’s serious background in tech (he was Chairman and CEO of PayPal) and investments (he’s President and Chairman of Clarium Capital’s investment committee) makes him an industry expert, so we’re looking at New Zealand for an up and coming technology scene.

Thiel just opened a venture fund through his firm Valar Ventures to support the somewhat nonexistent tech world in New Zealand. His contribution rings in at $12.1 million. Not only is he bringing serious funding to the table, he is also helping the New Zealand tech industry make connections. This isn’t Valar’s first venture in this industry; they just invested in a New Zealand company called Xero for the second time.

If Thiel’s behind the movement, we are too.

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Photo credit: Forbes.com