Jack Selby of Thiel Capital is using a new VC fund to invest in Arizona startups

Jack Selby, a former PayPal exec the longtime managing director of Thiel Capital who attracted some attention years back for his low-key largesse, has a new, $110 million venture fund that he intends to invest mostly in his adopted state of Arizona, where Selby has lived since 2002.
The debut vehicle of the firm, called AZ-VC, is backed by a number of real-estate outfits in Arizona, along with a major local utility company. Notably, however, Thiel is not an investor and neither are any of Thiel Capital’s many institutional backers.
We talked earlier today with Selby — who was calli

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