Who is Andrew McCormack? | Career, Net worth

Highlights

Andrew McCormack is the Founder and General Partner at Valar Ventures.

McCormack joined PayPal in 2001 as an assistant to Peter Thiel.

He was in charge of operations at Clarium Capital Management.

Who is Andrew McCormack?

Andrew McCormack is a business American entrepreneur renowned for being part of the famous “PayPal Mafia.”

He explored various tech and VC ventures and even gave the hospitality industry a shot, launching his restaurant group, Sprezzatura Restaurant. Throughout his career, McCormack has consistently partnered with Peter Thiel on numerous occasions.

McCormack is currently the founding partner at Valar Ventures, a US VC fund focused on tech startups.

Early life

Andy McCormack was a prominent Varsity Water Polo team member at Loomis Chaffee School. After graduation, he attended the University of Pennsylvania, where he studied Political Science and earned his BA in 1998.

Career

Valar Ventures

Valar Ventures is a venture capital fund located in the United States. It was started by Andrew McCormack, James Fitzgerald, and Peter Thiel in 2010.

Initially, Valar Ventures was a division of Thiel Capital, the main company owned by Peter Thiel based in San Francisco. Currently, its headquarters is near Madison Square in Manhattan.

Clarium Capital Management

McCormack was in charge of managing Clarium’s operations between Nov 2002 and April 2003, collaborating with Thiel to organize the firm’s investments. However, his term at the company was brief – according to his LinkedIn profile, he left after 6 months.

Paypal

McCormack joined PayPal in 2001. He served as an assistant to Peter Thiel, where he played a role in preparing the company for its IPO.

Net worth

The net value of Andrew McCormack is reported to be over $11 million. This figure is gotten from different stock deals, cashing out on past businesses, and earnings from his collection of businesses.

Best Quotes of Andrew McCormark

“Two partners working on all companies together can be the best of both worlds – benefits of speed and no misalignments that attribution causes.”

“…and by the 20th time, you realize you don’t need to be in every company that succeeds, just the ones you are passionate about from the start!”

“If I could have one wish granted for the rest of my VC career, it would not be to be a better picker of companies or adder of value (sorry, not sorry!). It would be to never have chips/crisps served in board meetings”