Billionaire Peter Thiel has backed a controversial Olympic-style contest that would allow competitors to take body-altering drugs and harness advances in science and technology to 'push the perceived limit of what's possible' for human beings.

The PayPal founder was revealed as an investor in the multi-million dollar seed round for the so-called Enhanced Games on Tuesday, joining Coinbase founder Balaki Srinivasan and biotech investor Christian Angermayer among other super-wealthy backers.

The Enhanced Games, founded by Oxford Graduate Aron D'Souza, once best known for leading Thiel's lawsuit against Gawker Media in 2013, has so far batted off critics, stressing it will champion science and innovation without exposing athletes to health risks.

It also welcomes all adults to apply to compete, regardless of whether they are 'natural, adaptive, or enhanced, an amateur or a former Olympian,' the organisers say, expecting to open registration later this year ahead of to-be-confirmed event dates.

The Enhanced Games have drawn controversy over fears of the consequences of using drugs to push human beings to their limits. But the competition remains interesting to spectators as a number of athletes come out in support of the games.

Aron D'Souza told Mail Sport in an interview last year that a British Olympian 'who has worn a Team GB jacket' had reached out early to express interest.