Theil says New Zealand is a utopia

Libertarian Peter Thiel, famous for making billions off Facebok, said he finally found "utopia" – New Zealand.

Thiel has been investing heavily in the country. According to the San Francisco Chronicle:

He's already made two noteworthy venture investments there in the space of a few months. In October 2010, he invested $3 million in online accounting firm Xero, which is based (and publicly traded) in New Zealand. Then he invested $4 million in Pacific Fiber, an ambitious company that is building a fiber-optic cable from Australia to New Zealand to the US and is raising $300-400 million more to do so.

These investments aren't just one-offs. Thiel has set up a local venture firm called Valar Ventures. Valar Ventures LP was registered in New Zealand in July 2009, more than a year before Thiel's first known New Zealand investment, and is managed by Valar Capital Management LLC, based in San Francisco, according to official records. Valar Ventures LP's offices are at prominent New Zealand law firm Bell Gully, which suggests it doesn't have full time staff yet. Peter Thiel founded two other companies in New Zealand: Second Star Limited, where he is sole shareholder, and Silverarc Advisors.

Perhaps there will be accounting jobs galore in New Zealand. :-)