THIEL CAPITAL'S SELBY BACKS ETCHED, RAISES $300M FUND

Selby's investment strategy focuses on early-stage companies with strong regional ties. Etched, which develops custom AI accelerators, represents the type of infrastructure-focused startup attracting attention from established venture investors. Copper Sky Capital's second fund filing signals confidence in the current startup landscape despite broader market uncertainty. The $300 million raise follows the firm's initial fund and positions Selby to make additional bets across sectors aligned with his Arizona network. The move underscores how venture investors continue building concentrated portfolios around geographic hubs and sector expertise. Selby's background at Thiel Capital, known for contrarian tech bets, informs his investment thesis at Copper Sky Capital. No timeline for fund completion was announced. The firm has not disclosed other portfolio companies or capital commitments secured to date for the second fund.