Jack Selby, managing director at Thiel Capital, has been leveraging his Arizona connections to secure stakes in some of the hottest startups in tech — including Etched, the AI chip startup that has drawn significant industry attention.
Copper Sky Capital's Growing Profile
Selby's vehicle for these deals is Copper Sky Capital, his own venture firm operating alongside his role at Thiel Capital. The firm is currently in the market for a $300 million second fund, according to a recent regulatory filing — a signal that Selby is moving to institutionalize what has so far been a relationship-driven dealmaking approach.
Arizona as a Dealflow Engine
Selby's edge appears to stem from deep roots in the Arizona startup and investor ecosystem, which has grown considerably as founders and capital have migrated out of traditional hubs like San Francisco and New York.
- His local network has given him early access to competitive deals
- Etched, one of his notable bets, is building custom silicon optimized for transformer-based AI models
- The strategy mirrors a broader trend of regional investor networks punching above their weight in early-stage AI rounds
The Thiel Connection
Selby's association with Peter Thiel — one of Silicon Valley's most influential and controversial figures — lends Copper Sky Capital a degree of credibility and deal access that purely regional firms typically lack.
The combination of a brand-name affiliation and boots-on-the-ground regional presence is proving to be a potent formula for sourcing differentiated early-stage deals.
With the $300 million fund raise underway, Selby appears poised to scale that formula significantly. Whether Arizona's startup scene can continue producing breakout companies at the pace needed to justify the fund size will be the key test going forward.
