What Thrive Capital does

Thrive Capital is a New York–based venture capital firm founded by Joshua Kushner that invests in internet, software, and technology-enabled companies, managing over $50 billion in assets across its fund vehicles as of April 2026. Its core platform deploys primary capital into late-stage and growth-stage rounds across AI, defense tech, biotech, fintech, and frontier technology, with notable portfolio holdings including OpenAI, Stripe, SpaceX, Instagram, Databricks, Wiz, Anduril, Cursor, Isomorphic Labs, Helion, Ramp, and Formation Bio. The firm also operates Thrive Incubations, an in-house founder partnership program that explores new ideas and launches companies.

The firm recently closed a $10 billion fund and has expanded its platform beyond traditional venture investing through two new vehicles: Thrive Eternal, a permanent-capital holding company designed to acquire and manage long-duration cultural assets (with a proposed minority stake in the San Francisco Giants pending MLB approval), and Thrive Holdings, which is reportedly raising $2 billion to implement AI in traditional industries. Thrive monetizes through carried interest and management fees on closed-end funds raised from institutional limited partners, supplemented by selective public-equity positions such as the $100 million Shopify stake in May 2026.

Strategically, Thrive differentiates itself through concentrated, high-conviction bets that include lead or co-lead positions in mega-rounds (Anduril $5B Series H, Isomorphic Labs $2.1B Series B, Helion $465M Series G) and selective participation in rounds led by peer firms (Ramp Series F, NewLimit Series C, Cadence Series C). Its distribution model relies on direct institutional dealmaking, syndicated venture participation, and brand amplification via portfolio-company co-marketing and Joshua Kushner's public profile. The firm employs 11–50 investment and operating professionals across functions including GTM, insights, AI, valuations, communications, and portfolio talent.

Name

Thrive Capital

Legal name

Thrive Capital

Website

https://thrivecap.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (52394)

akta.pro primary industry

Late-Stage Venture Capital (Series C+) (FSANAAAC)

akta.pro secondary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Venture capital funding
• Growth-stage investments
• Technology startup investing
• Permanent capital vehicles
• Startup incubation

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Venture Capital Investment Returns: Thrive Capital generates returns via capital appreciation and exits from equity investments in private and public companies. The firm earns carried interest and management fees on funds, including a recent $10 billion fund raise. Notable exposures include OpenAI, Stripe, SpaceX, Instagram, Wiz, Cursor, Anduril, and Helion.
2. Public Equity Investments: Thrive Capital also takes stakes in public companies (e.g., $100M Shopify investment), representing a minority of capital allocation beyond traditional venture activity.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Thrive Capital is a venture capital firm that deploys institutional-scale capital into internet, software, and technology-enabled companies across late-stage and growth-stage rounds. The firm manages over $50 billion in assets, leads or co-leads mega-rounds in AI, defense tech, biotech, fintech, and frontier technology, and operates incubation and permanent-capital vehicles to support founders from inception through long-term ownership.

Product overview

Thrive Capital operates a unified venture capital platform centered on building and investing in internet, software, and technology-enabled companies, with over $50 billion in assets under management. Its core offering, Thrive Capital, deploys capital into late-stage technology companies across AI, biotech, defense tech, fintech, and crypto, with notable portfolio holdings including OpenAI, Instagram, Stripe, SpaceX, Databricks, Wiz, and Spotify. The firm's Thrive Incubations module extends the core platform by partnering with founders to explore new ideas, build products, and launch companies. Complementing the venture platform, Thrive Eternal functions as a sub-brand offering a permanent capital holding vehicle for long-term, high-conviction asset ownership (with its first proposed investment being a minority stake in the San Francisco Giants), and the Thrive Capital Advisory Network brings in operating advisors (e.g., Bob Iger) to support portfolio founders — together forming a platform-plus-modules architecture that pairs traditional venture investing with incubation, permanent capital, and operating expertise.

Differentiator

Problem solved

Functional benefit

Brands

• Thrive Eternal: Permanent-capital holding company under Thrive Capital designed to acquire and manage long-duration assets, with its announced first investment being a minority stake in the San Francisco Giants.
• Thrive Holdings

Products and services

• Thrive Capital Venture Investment Platform Core venture capital platform that builds and invests in internet, software, and technology-enabled companies, deploying capital into late-stage and growth-stage rounds across AI, biotech, defense tech, fintech, and crypto. Manages over $50 billion in assets and has backed OpenAI, Stripe, SpaceX, Databricks, Wiz, Cursor, Anduril, Ramp, and Isomorphic Labs.
• Thrive Incubations An incubation program under which Thrive Capital partners with founders to explore new ideas, build exceptional products, and launch world-class companies.
• Thrive Eternal A permanent capital holding company under Thrive Capital designed to concentrate investments in a small number of high-conviction assets for long-term ownership, allowing indefinite holding periods and compounding returns through sustained ownership stakes. First proposed investment is a minority stake in the San Francisco Giants (MLB).
• Thrive Capital Advisory Network Advisory and portfolio support offering that brings in operating advisors (e.g., former Disney CEO Bob Iger) to work with Thrive's investment staff and portfolio company founders, providing strategic and operational guidance to portfolio companies.

Quantifiable outcome

• Manages over $50 billion in assets
• +3 more outcomes

Named customers1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered moderate and flagship.

• James Dyett (OpenAI Head of Sales)moderateOthers · 5 May 2026James Dyett, formerly OpenAI's head of sales, joined Thrive Capital. This represents a notable talent acquisition from OpenAI, joining a wave of executive movements between generative AI companies and venture capital firms.
• Bob IgerflagshipOthers · 23 April 2026Bob Iger rejoined Thrive Capital as an advisor one month after stepping down as Disney CEO. Iger already owns a stake in the firm and previously served as a venture partner at Thrive in late 2022. He will work with Thrive's investment staff and portfolio founders in a non-full-time advisory role.

Scale indicators5 records

Recent moves1 record

Expansion highlights6 records

Direct peers

• Andreessen Horowitz (a16z): Premier US-based venture capital firm that co-leads mega-rounds with Thrive across AI, defense tech, and frontier technology (e.g., co-led Anduril $5B, Cursor $2B, OpenAI $122B). Operates as a multi-stage firm with comparable scale, brand, and fund-size profile.
• Sequoia Capital: One of the most established US venture capital firms, operating across stages with mega-fund vehicles; co-invests alongside Thrive (e.g., participated in Pace $46M Series B) and shares comparable late-stage/growth deal activity.
• General Catalyst: Top-tier US venture capital firm with comparable multi-stage activity and similar mega-round participation (e.g., co-invested in Anduril, Forus, Cadence); named alongside Thrive in top-5 global VC rankings.
• Founders Fund: Late-stage US venture capital firm that frequently co-invests with Thrive (e.g., NewLimit $435M led by Founders Fund, Ramp $750M, Physical Intelligence); shares frontier-tech investment focus and concentrated-bet approach.
• Insight Partners: Large-scale US growth and late-stage venture capital firm, frequently ranked in top-5 globally alongside Thrive; invests in similar later-stage software and tech-enabled companies.
• Khosla Ventures: US venture capital firm with significant AI and frontier-technology focus; co-invests with Thrive (e.g., Rogo $160M) and shares comparable sector-specialist DNA.
• Index Ventures: Late-stage venture capital firm with US/Europe footprint; co-invests with Thrive in companies like Ramp, Garner Health, and Revel, and operates in similar growth-stage mega-rounds.
• Lightspeed Venture Partners: Multi-stage US venture capital firm with comparable late-stage and frontier-tech activity (e.g., Helion, Physical Intelligence); shares similar sector-focused mega-round leadership style.
• Coatue Management: Crossover investment firm that deploys capital into both public and private technology companies; co-invests with Thrive (e.g., Cadence Series C) and shares comparable mega-round capacity.
• Tiger Global Management: Late-stage growth investor known for large-scale checks and rapid-fire deal pacing; comparable to Thrive in deploying institutional-size capital into high-valuation technology rounds.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ThriveCapital
• LinkedInlinkedin.com/company/thrive-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments490 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thrive Capital