Thrive Capital

Thrive Capital Management, LLC
Company type	Private
Industry	Venture capital
Founded	2010; 16 years ago
Founder	Joshua Kushner
Headquarters	New York City, United States
Area served	Worldwide
Key people	Nitin Nohria (Executive Chair), Joshua Kushner (Founder and Majority Owner)
Products	Venture capital investments
Owner	Joshua Kushner (96.7%)
Number of employees	64 (2024)
Website	www.thrivecap.com

Thrive Capital Management, LLC, commonly referred to as Thrive Capital, is a venture capital firm headquartered in New York City, primarily focusing on investments in software and internet-based companies. Established in 2010 by entrepreneur Joshua Kushner, who is also a co-founder of Oscar Health and holds a minority stake in the Memphis Grizzlies, Thrive Capital oversees assets estimated at around US$25 billion as of November 2024. The firm comprises a team of 64 professionals and is currently chaired by executive chair Nitin Nohria. Joshua Kushner maintains a dominant ownership share of 96.7%, underscoring his pivotal role and influence within the venture capital landscape. Thrive Capital's investment approach centers on identifying startups with rapid growth potential in its core sectors, utilizing its strategic edge to foster substantial expansion and increase market presence.

History

At the age of 24, Joshua Kushner launched Thrive Capital in 2010. The initial seed capital of $5 million was provided by Joel Cutler and General Catalyst, who also played an instrumental role in connecting additional investors. In 2011, the firm introduced its inaugural institutional fund, securing $40 million from notable backers such as Princeton University, Wellcome Trust, and Peter Thiel, with General Catalyst serving as the principal limited partner.

Following the 2016 U.S. presidential election, Jared Kushner assumed the role of Senior Advisor to the President and divested his entire interest in Thrive to prevent any conflicts of interest during the Trump administration.

In May 2021, Petershill Partners acquired approximately a 3% stake for $120 million, placing Thrive’s valuation at $3.6 billion. By September of that year, Thrive registered as an investment adviser with the SEC, indicating intentions to expand into public equities and cryptocurrency investments. Ten companies within its portfolio went public in 2021, including Affirm and Nubank. In 2022, Nitin Nohria was named Thrive’s first executive chair.

In January 2023, investors including Bob Iger, Mukesh Ambani, Henry Kravis, Xavier Niel, and Jorge Paulo Lemann collectively purchased a 3.3% stake, elevating Thrive’s valuation to $5.3 billion—a 50% increase over the valuation following Goldman Sachs’ investment in 2021. In March 2023, Thrive secured $1.8 billion to invest in Stripe at a $50 billion valuation.

August 2024 saw Thrive announce its largest fundraise yet with over $5 billion raised for Thrive IX, divided into $4 billion allocated for late-stage investments and $1 billion earmarked for early-stage ventures—marking one of the largest venture capital fundraises of the year.

Thrive Capital is recognized for its early backing of significant technology platforms such as Instagram, GitHub, Spotify, Twitch, Physical Intelligence, and Anysphere. Its portfolio further includes companies like Scale AI, A24, Stripe, Airtable, Glossier, Plaid, Anduril, Ramp, and Databricks.

A Financial Times profile from November 2024 emphasized Thrive’s investment philosophy: concentrating resources on fewer companies to maintain strong founder relationships and oversight while balancing commitments between early-stage and growth-stage financing.

Funds

By 2024, Thrive Capital had raised a total of $12.3 billion across multiple funds and managed assets approaching $25 billion.

Fund	Vintage Year	Committed Capital ($m)
Thrive Capital Partners I	2009	5
Thrive Capital Partners II	2011	40
Thrive Capital Partners III	2012	150
Thrive Capital Partners IV	2014	400
Thrive Capital Partners V	2016	700
Thrive Capital Partners VI	2018	1,000
Thrive Capital Partners VII	2021	2,000
Thrive Capital Partners VIII	2022	3,000
Thrive Capital Partners IX	2024	5,000

Significant Investments

External links