R iaz Valani is an American venture capitalist who became a billionaire through his pivotal early-stage investment in the controversial electronic cigarette company, Juul Labs. He is a general partner at the venture capital firm, Global Asset Capital. In 2015, his firm was a key early investor in Pax Labs, the company that originally developed the Juul e-cigarette. When Juul was spun off into a separate company, Valani retained a significant stake and served on its board of directors.

The massive and viral success of Juul, particularly among young people, led to a soaring valuation for the company. At its peak, after a major investment from the tobacco giant Altria, the company was valued at $38 billion, which turned Valani's early investment into a multi-billion dollar fortune. However, the company has since faced a massive public health backlash, intense regulatory scrutiny, and a collapse in its valuation. Despite the company's fall, the value of Valani's early investment has made him a billionaire.