Thrive Capital Management, LLC, commonly Thrive Capital, is an American

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

firm based in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. It focuses on software and internet investments. The firm was founded by Joshua Kushner who is also co-founder of

Oscar Health Oscar Health, Inc. is an American health insurance company, founded in 2012 by Joshua Kushner, Kevin Nazemi and Mario Schlosser, and is headquartered in New York City. The company focuses on the health insurance industry through telemedicine, ...

and minority owner of the

Memphis Grizzlies The Memphis Grizzlies (referred to locally as the Grizz) are an American professional basketball team based in Memphis, Tennessee. The Grizzlies compete in the National Basketball Association (NBA) as a member of the Southwest Division of the ...

History

Joshua Kushner founded Thrive Capital in 2010, at 24 years old. Joel Cutler and General Catalyst provided the initial $5 million in

seed money Seed money, also known as seed funding or seed capital, is a form of securities offering in which an investor puts capital in a startup company in exchange for an equity stake or convertible note stake in the company. The term ''seed'' suggest ...

for the firm in 2010 as well as introduced investors to the firm and Kushner. In 2011, the firm launched its first institutional fund, raising another $40 million from

Princeton University Princeton University is a private university, private Ivy League research university in Princeton, New Jersey, United States. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial ...

Wellcome Trust The Wellcome Trust is a charitable foundation focused on health research based in London, United Kingdom. It was established in 1936 with legacies from the pharmaceutical magnate Henry Wellcome (founder of Burroughs Wellcome, one of the predec ...

Peter Thiel Peter Andreas Thiel (; born 11 October 1967) is an American entrepreneur, venture capitalist, and political activist. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook. According ...

and other investors. General Catalyst served as the core LP yet again for this second funding round. Following the

2016 United States presidential election United States presidential election, Presidential elections were held in the United States on November 8, 2016. The Republican Party (United States), Republican ticket of businessman Donald Trump and Indiana Governor, Indiana governor Mike P ...

, Jared Kushner was appointed as

Senior Advisor to the President Senior Advisor to the President is a title used by high-ranking political advisors to the president of the United States. Senior advisors to the president do not have formal government decision making authority, but they can have significant infl ...

. Jared sold his entire Thrive Capital stake to avoid conflict of interest between him and the Trump administration. In May 2021, Petershill Partners had invested around $120 million in Thrive Capital for a 3% stake, which valued the firm at $3.6 billion. In September 2021, the firm registered as an investment adviser with the U.S. Securities and Exchange Commission. The firm stated as part of its regulatory filing that it planned to use some funds to investment in

public companies A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

and crypto assets. The same year, ten of Thrive's portfolio companies went public, including Affirm and Nubank. In 2022, Nitin Nohria was brought on as the firm's first executive chair. In January 2023, a group of five investors,

Bob Iger Robert Alan Iger (; born February 10, 1951) is an American media executive who is chief executive officer (CEO) of the Walt Disney Company. He previously was the president of the American Broadcasting Company (ABC) between 1994 and 1995 and p ...

Mukesh Ambani Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire and businessman who is the chairman and managing director of Reliance Industries. As of May 2025, he is the richest person in Asia and The World's Billionaires, 13th richest ...

Henry Kravis Henry Roberts Kravis (born January 6, 1944) is an American businessman, investor, and philanthropist.Xavier Niel and Jorge Paulo Lemann, acquired a 3.3% stake of Thrive Capital. This put Thrive at a $5.3 billion valuation - a 50% increase from when Goldman Sachs paid $175 million for the same stake in 2021. Thrive then raised $1.8 billion in March 2023 to invest into Stripe at a $50 billion valuation. Thrive announced in August 2024 that it raised over $5 billion for Thrive IX, its biggest-ever set of funds and among the “largest completed this year by a venture firm.” The funds will be split between a $4 billion late-stage investment fund and a $1 billion fund dedicated to early-stage ventures. The firm is noted for being an early investor in several high-profile technology platforms such as

Instagram Instagram is an American photo sharing, photo and Short-form content, short-form video sharing social networking service owned by Meta Platforms. It allows users to upload media that can be edited with Social media camera filter, filters, be ...

GitHub GitHub () is a Proprietary software, proprietary developer platform that allows developers to create, store, manage, and share their code. It uses Git to provide distributed version control and GitHub itself provides access control, bug trackin ...

Spotify Spotify (; ) is a List of companies of Sweden, Swedish Music streaming service, audio streaming and media service provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. , it is one of the largest providers of music streaming services ...

and Twitch, Physical Intelligence, and Anysphere. Thrive has also invested in Scale AI, A24, Stripe, Airtable,

Glossier Glossier is a beauty brand founded by Emily Weiss in 2014. It started as an online-only company, building on the popularity of the beauty blog ''"Into the Gloss"''. Glossier was one of the first direct-to-consumer beauty companies when it launched ...

, Plaid, Anduril, Ramp, and Databricks. In November 2024, ''

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Jap ...

'' detailed how Thrive’s strategy is “investing heavily in fewer companies oprovide a closer relationship with founders and more visibility into companies”; the firm is able to simultaneously “remain faithful to early-stage investing” while also participating in growth and late stage investments.

Funds

As of 2024, Thrive has raised a total of $12.3bn, and has almost $25bn under management.

Notable investments

* A24 * Affirm Holdings *

Artsy Artsy, formally known as Art.sy Inc is a New York City based online art brokerage. Its main business is developing and hosting website for numerous galleries as well as selling art for them. It utilizes a search engine and database to draw conne ...

* Anduril * Airtable * Cadre *

ClassPass ClassPass is an American company operating a subscription platform for Physical fitness, fitness. Founded in 2013, it was acquired by Mindbody Inc., Mindbody Inc in 2021. Just completed a company wide layoff consisting of their domestic sales te ...

* Compass, Inc. * Codecademy * Cursor * Databricks * Fanatics * GroupMe *

* Greenhouse Software * Hims & Hers Health *

Kickstarter Kickstarter, PBC is an American Benefit corporation, public benefit corporation based in Brooklyn, New York City, that maintains a global crowdfunding platform focused on creativity. The company's stated mission is to "help bring creative project ...

* Lemonade, Inc. * Mapbox * Monzo * Neverware * Nubank *

OpenAI OpenAI, Inc. is an American artificial intelligence (AI) organization founded in December 2015 and headquartered in San Francisco, California. It aims to develop "safe and beneficial" artificial general intelligence (AGI), which it defines ...

* Opendoor * OpenGov *

Patreon Patreon (, ) is a monetization platform operated by Patreon, Inc., that provides business tools for content creators to run a subscription service and sell digital products. It helps artists and other creators earn a recurring income by provid ...

* Plaid * Ramp * Robinhood Markets * Scale AI * Skims *

Slack Technologies Slack Technologies, LLC is an American software company founded in 2009 in Vancouver, British Columbia, known for its proprietary communication platform Slack (software), Slack. Outside its headquarters in San Francisco, California, Slack also o ...

* Spring * Stripe * Twitch * Whisper *

Unity Technologies Unity Software Inc. (doing business as Unity Technologies) is an American video game software development company based in San Francisco. It was founded in Denmark in 2004 as Over the Edge Entertainment and changed its name in 2007. Unity Techn ...

* Warby Parker * Wiz

References

External links

* {{authority control American companies established in 2009 Financial services companies based in New York City Financial services companies established in 2009 Investment companies based in New York City Venture capital firms of the United States