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Palantir Chair Peter Thiel’s Professional-Doping Enhanced Video games Goals To Elevate $300M: Report – Coinbase Glb (NASDAQ:COIN), Palantir Applied sciences (NYSE:PLTR)

The Enhanced Video games, an Olympics-style occasion allowing doping and supported by billionaire Peter Thiel, is reportedly in discussions to safe roughly $300 million in funding.

Thiel cofounded Palantir Applied sciences Inc.’s PLTR and PayPal Holdings, Inc. PYPL.

Christian Angermayer, co-founder of the London-based firm, revealed in an interview that they’ve engaged in preliminary discussions with varied traders, together with sovereign wealth funds, to safe a mix of debt and fairness financing for his or her inaugural competitors scheduled for subsequent yr, reported Bloomberg.

Angermayer declined to reveal extra specifics relating to the phrases.

In 2023, the Enhanced Video games made a high-profile debut, saying an annual occasion the place athletes can use performance-enhancing medicine, Bloomberg aded.

Additionally Learn: Palantir’s Peter Thiel Says It’s ‘Very Unusual’ That Most Cash In AI Is Being Made By Solely One Firm: ‘…Which Silicon Valley Doesn’t Even Know A lot About Anymore’

The group, supported by Balaji Srinivasan, a crypto investor and former Coinbase World, Inc. COIN govt, options sports activities like monitor and area, swimming and weightlifting.

The idea has confronted criticism from the Worldwide Olympic Committee and anti-doping authorities for its disregard of truthful play and potential dangers to athletes’ well being.

Efficiency-enhancing medicine are prohibited in most sports activities leagues and federations worldwide.

In response to Angermayer, all opponents will endure medical screenings and are restricted to substances accredited by the U.S. Meals and Drug Administration, together with anabolic steroids and development hormones.

“I consider science is on my aspect,” Angermayer remarked, citing nameless surveys indicating widespread doping amongst athletes in aggressive sports activities.

A prolific investor, Angermayer has supported varied corporations by his household workplace, Apeiron Funding Group, specializing in biotech, longevity, and psilocybin-based therapeutics.

Apeiron has additionally invested in Venezia FC and partnered with Didier Drogba’s E1 Collection staff by its sports activities funding group Chiron.

The Enhanced Video games began with roughly $10 million in preliminary capital.

Disclaimer: This content material was partially produced with the assistance of AI instruments and was reviewed and printed by Benzinga editors.

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Photograph: Gage Skidmore by way of flickr

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