US investor gives $1m to quake fund

Peter Thiel. Photo / Supplied

A high-profile US entrepreneur with New Zealand investment interests has made a $1m donation to the Christchurch earthquake appeal fund.

Peter Thiel, the first outside investor in Facebook and co-founder of PayPal, has a keen interest in emerging New Zealand technology companies.

He invested in Xero and Pacific Fibre through his New Zealand-based venture capital fund, Valar Ventures, which is focused on providing capital and assistance to New Zealand entrepreneurs planning to expand into the US market.

"Now that we know the scope of the damage in Christchurch, it's time to start planning how to rebuild it," Mr Thiel said today.

"I hope that everyone who sees the potential for a restored Canterbury will lend their time, talent, or resources to renewing the region and its economy, for the sake of all New Zealand."

- NZPA