Thrive Capital

Reviewed Updated Apr 30, 2026

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Location New York, NY
Founded 2009
Fund Size $10B (Thrive X, 2026); $5B (Thrive IX, 2024); $3B (Thrive VIII, 2022); $2B (Thrive VII, 2021); $1B (Thrive VI, 2018); $700M (Thrive V, 2016); $400M (Thrive IV, 2014); $150M (Thrive III, 2012); $40M (Thrive I, 2011)
Website https://thrivecap.com
Stage Focus
seed series-a series-b growth
Sector Focus
enterprise internet ai-ml fintech healthcare developer-tools consumer-internet

Team

Joshua Kushner Founder & Managing Partner
Kareem Zaki General Partner
Miles Grimshaw General Partner
Vince Hankes Partner
Katie Josephson Partner
Nitin Nohria Executive Chairman

About

Thrive Capital is a New York-based venture capital firm founded by Joshua Kushner in 2009, when Kushner was 24 years old 23. Kushner, a Harvard graduate (B.A. 2008, MBA 2011) and former Goldman Sachs analyst, started with approximately $5 million in seed capital, including $5 million from Joel Cutler of General Catalyst 3. The firm raised its first institutional fund of $40 million in 2011, backed by Princeton University’s endowment, the Wellcome Trust, and Peter Thiel 34.

Thrive has grown rapidly through successive funds: Fund III ($150M, 2012), Fund IV ($400M, 2014), Fund V ($700M, 2016), Fund VI ($1B, 2018), Fund VII ($2B, 2021), Fund VIII ($3B, 2022), Fund IX ($5B, 2024), and Fund X ($10B, 2026) 345. The $5 billion Fund IX was split between a $4 billion late-stage fund and a $1 billion early-stage fund 6. Fund X, closed in February 2026, comprises $1 billion for early-stage and $9 billion for growth-stage investments 78.

As of February 2026, Thrive has raised a total of approximately $22.3 billion and manages over $25 billion in assets, making it one of the largest venture firms in the world 58. The firm has invested in approximately 199 companies, with 39 unicorns, 12 IPOs, and 52 acquisitions in its portfolio 9.

In 2022, Nitin Nohria, former dean of Harvard Business School, became the firm’s first executive chairman 3. In 2024, Thrive sold a 3.3% stake to investors including Disney CEO Bob Iger and KKR founder Henry Kravis, valuing the firm at $5.3 billion; Kushner retains approximately 96.7% ownership 2.

The firm operates with a 65-person Manhattan office and a 9-person investment team 2. Thrive also launched Thrive Holdings, a permanent capital vehicle to acquire and operate businesses benefiting from AI over decades 10.

Stated Thesis

Thrive Capital publicly describes itself as an “operating company” rather than a traditional venture fund, with partnership as its core product. Joshua Kushner has stated: “We view Thrive as a company. Our product is partnership — the willingness to commit deeply to a small number of founders, and to stand with them through momentum and adversity” 11.

The firm emphasizes concentration over volume: “Concentration is core to what we do. The only way to truly develop context on businesses is to spend meaningful time… to really understand every aspect of everything that we’re a part of in a very intimate way” 11.

Kushner positions Thrive’s investors as enablers rather than protagonists: “Our founders are heroes. We’re not Da Vinci. We’re Medici… our opportunity is to enable the artists that we’re fortunate enough to support to create their masterpieces” 11.

General Partner Kareem Zaki has described Thrive’s singular investment rule: “We’ve only really had one rule, and that is to be a part of category-defining companies with multi-decade tailwinds” 12.

The firm’s stated approach emphasizes long-term conviction: “There will be bad quarters, there’ll be bad years, but if you believe in the people who are running the business, ultimately everything will end up okay” 11. Kushner describes the relationship with portfolio companies as “ride or die” — “We decide what team we’re going to play on, and play for that team. Ride or die” 13.

Thrive describes itself as stage-agnostic, investing from seed through growth, and focuses on “internet, software, and technology-enabled companies” 4.

Inferred Thesis

The following analysis is based on 80 verified portfolio companies compiled from Crunchbase, Tracxn, press coverage, and Thrive’s own disclosures 94214. Thrive has invested in approximately 199 companies total 9; this analysis represents roughly 40% of the portfolio and likely skews toward the most notable investments.

Sector Allocation (computed from 80 verified portfolio entries)

  • Enterprise SaaS / Developer Tools / Infrastructure: 22 companies (28%) — Slack, Airtable, Greenhouse Software, Benchling, OpenGov, Lattice, Retool, Airplane.dev, Ramp, Compass, Codegen, ClassPass, Vimeo, Pleo, Parafin, Rightway Healthcare, Crete Professionals Alliance, Shield Technology Partners, Revel, Nava, Scope Security, Cadence
  • AI / Machine Learning: 12 companies (15%) — OpenAI, Anthropic, Anysphere (Cursor), Physical Intelligence, Scale AI, Essential AI, Isomorphic Labs, Rogo, HeyGen, Formation Bio (AI-driven), ThriveAI, Decagon
  • Fintech / Payments / Insurance: 12 companies (15%) — Stripe, Affirm, Robinhood, Plaid, Lemonade, Oscar Health, Trade Republic, Melio, Clair, NuBank, Cedar, Mercury
  • Consumer Internet / Social / Media: 11 companies (14%) — Instagram, Spotify, Twitch, A24, Fanatics, Glossier, Skims, Warby Parker, GroupMe, Kickstarter, Hot Potato
  • Health / Biotech: 6 companies (8%) — Oscar Health, Rightway Healthcare, Medivis, Formation Bio, Isomorphic Labs, Hippocratic AI
  • Defense / Aerospace / Robotics: 4 companies (5%) — Anduril Industries, SpaceX, Neuralink, Physical Intelligence
  • Marketplaces / E-commerce / Logistics: 5 companies (6%) — Instacart, Compass, Opendoor, Real (Cadre), Visible Ideas
  • Data / Analytics / Other: 4 companies (5%) — Databricks, Unity Software, Base Power, Alsym Energy

Note: Some companies (e.g., Oscar Health, Formation Bio) span multiple categories. Each is counted once in its primary category. Percentages are computed from 80 companies and total 101% due to rounding.

Stage Distribution

Unlike many venture firms, Thrive operates with a genuine “barbell strategy” — investing at both seed/early stage and growth/late stage 3. The fund structure reflects this: Fund IX allocated $1 billion to early-stage and $4 billion to growth 6, while Fund X allocates $1 billion early-stage and $9 billion growth 78. The heavy weighting toward growth-stage capital is notable: as Thrive has scaled, the vast majority of capital deployed goes into late-stage rounds, secondaries, and tender offers.

Thrive’s earliest investments (Fund I-III era, 2011-2014) were predominantly seed and Series A. As fund sizes grew, the firm increasingly participated in Series B+ rounds and structured secondary purchases (e.g., accumulating a ~10% stake in GitHub via tender offers before the Microsoft acquisition) 2.

Geographic Concentration

Thrive is headquartered in New York and was one of the first major venture firms to demonstrate that a NYC-based firm could compete with Silicon Valley. The portfolio includes companies headquartered across the US, with significant representation in New York (Oscar Health, Warby Parker, Compass, ClassPass, Ramp), San Francisco/Bay Area (Stripe, OpenAI, Instacart, Databricks), and a small number of international companies (NuBank in Brazil, Trade Republic in Germany, Monzo in UK, Spotify in Sweden) 24.

Check Size

Thrive’s check sizes span a wide range reflecting its stage-agnostic approach: - Early-stage: Investments ranging from low single-digit millions to $25+ million - Growth-stage: $50 million to $1+ billion per deal. The firm invested approximately $1.3 billion in OpenAI’s October 2024 round 15 and roughly $1 billion more in December 2024 at a $285 billion valuation 16 - Tender offers / secondaries: Thrive pioneered accumulating meaningful stakes through secondary transactions, as with GitHub (~10% accumulated) 2

Co-Investor Patterns

Thrive frequently co-invests with the top-tier venture firms: Andreessen Horowitz (Instacart, Databricks, Stripe, Slack), Sequoia Capital (Stripe, Instacart, SpaceX), Founders Fund (Stripe, SpaceX, Anduril), General Catalyst (Stripe), Kleiner Perkins (Slack, Instacart), and SV Angel (Twitch, Stripe, Slack, OpenAI, Instacart, Databricks) 4.

Founder Profile Patterns

Based on the portfolio, Thrive shows a preference for: - Repeat founders and operators: Many portfolio founders have prior startup or major company experience - Product-oriented founders: Kushner has stated his focus on “what makes a good product” 11 - Founders Kushner knows personally: The firm’s earliest and largest investments frequently came through personal relationships (Kevin Systrom/Instagram via Ron Conway introduction, Sam Altman/OpenAI through a decade-long friendship) 2

Notable Gaps Between Stated and Actual Thesis

  • Stated: stage-agnostic. Actual: heavily weighted toward growth. While Thrive does invest at seed, the fund structure dedicates 80-90% of capital to growth-stage deals. The firm is primarily a growth investor by capital deployed, even though it maintains an early-stage practice.
  • Stated: internet and software focus. Actual: significant non-software positions. The portfolio includes defense tech (Anduril, SpaceX), biotech (Isomorphic Labs, Formation Bio), entertainment (A24, Fanatics), consumer brands (Glossier, Skims, Warby Parker), and energy (Base Power, Alsym Energy). The actual portfolio is broader than “internet and software.”
  • AI concentration is dominant and growing. AI/ML represents 20% of the verified portfolio, but this almost certainly understates the recent weighting — the $10 billion Fund X explicitly targets “AI applications and infrastructure” alongside “space, robotics and life sciences” 5.
  • Crypto absence is notable. Kushner has publicly discussed his absence from crypto 11, and the verified portfolio contains essentially no crypto/web3 investments — unusual for a firm of this scale.

Portfolio

The following table includes 80 verified portfolio companies sourced from Crunchbase, Tracxn, press coverage, and Thrive’s disclosures. Thrive has invested in approximately 199 companies total 9; this table represents roughly 40% of known investments.

Company Stage Year Sector Status
Helion Energy Series G (Lead) 2026 Fusion / Energy Private 1
Instagram Series B 2012 Consumer / Social Acquired by Facebook (2012) 23
Warby Parker Series A ~2011 Consumer / E-commerce Public (IPO 2021) 23
GroupMe Seed ~2010 (founded) Consumer / Messaging Acquired by Skype/Microsoft (2011) 2
Oscar Health Co-founded 2012 Health Insurance Public (IPO 2021) 23
Codecademy Early ~2011 (founded) EdTech Acquired by Skillsoft (2022) 3
MakerBot Early ~2012 Hardware / 3D Printing Acquired by Stratasys (2013) 3
Spotify Growth ~2013 Consumer / Music Public (IPO 2018) 34
GitHub Tender Offer ~2014 Developer Tools Acquired by Microsoft (2018) 2
Kickstarter Early ~2012 (founded) Consumer / Crowdfunding Private 4
Twitch Growth ~2014 Consumer / Media Acquired by Amazon (2014) 34
Stripe Growth ~2016 Fintech / Payments Private 24
Robinhood Series C 2017-04-26 Fintech / Investing Public (IPO 2021) 221
Slack Growth ~2015 Enterprise SaaS Acquired by Salesforce (2021) 4
Affirm Growth ~2016 (founded) Fintech / BNPL Public (IPO 2021) 9
ClassPass Growth ~2016 Consumer / Fitness Acquired by Mindbody 4
Compass Growth ~2017 Real Estate / Tech Public (IPO 2021) 4
Glossier Growth ~2018 Consumer / Beauty Private 14
Lemonade Growth ~2018 Insurtech Public (IPO 2020) 9
Unity Software Growth ~2018 Gaming / Developer Tools Public (IPO 2020) 4
Plaid Growth ~2019 Fintech / Infrastructure Private 4
Airtable Growth ~2018 Enterprise SaaS Private 4
Benchling Early/Growth ~2015 Biotech / SaaS Private 217
Greenhouse Software Early ~2013 (founded) Enterprise / HR Private 4
Fanatics Growth ~2020 Consumer / Sports Private 4
A24 Growth 2024-06-26 Entertainment / Media Private 18
Skims Growth ~2021 Consumer / Fashion Private 2
Instacart Growth ~2018 Marketplace / Delivery Public (IPO 2023) 4
Databricks Growth ~2019 Enterprise / Data & AI Private 4
OpenAI Growth 2024-10-02 AI Private 215
Scale AI Series F ($1B, $13.8B post, led by Accel) 2024-05-21 AI / Data Private 142225
Ramp Growth ~2021 Fintech / Corporate Cards Private 4
Anduril Industries Growth (Series E→H; co-led Series H) 2022 (Series E); 2026-05-13 (Series H, co-led at $61B post) Defense Tech Private 41940
NuBank Growth ~2018 Fintech / Banking Public 9
Opendoor Growth ~2018 Real Estate / Tech Public 4
OpenGov Growth ~2017 Enterprise / GovTech Acquired by Cox Enterprises (2024) 14
Trade Republic Growth ~2020 Fintech / Investing Private 12
Lattice Growth ~2019 Enterprise / HR Private 17
Monzo Growth ~2018 Fintech / Banking Private 17
Melio Growth ~2020 Fintech / Payments Private 12
Vimeo Growth ~2019 Consumer / Video Public 4
Cedar Incubated ~2016 Health Tech Private 12
Nava Incubated ~2016 Health Tech Private 12
Cadre Co-founded ~2015 Real Estate / Fintech Acquired by Yieldstreet 2
The Browser Company Co-created ~2020 Consumer / Software Private 2
Pleo Growth ~2021 Fintech / Expense Mgmt Private 4
Parafin Growth ~2021 Fintech Private 4
Rightway Healthcare Growth ~2019 Health Tech Private 4
Medivis Early ~2017 (founded) Health Tech / AR Private 4
SpaceX Growth ~2022 Aerospace Private 5
Neuralink Series E 2025-06-02 Neurotechnology Private ($650M Series E at ~$9B pre-money valuation; Sequoia Capital, Founders Fund, ARK Invest, Lightspeed, Thrive participated) 192627
Physical Intelligence Growth ~2024 AI / Robotics Private 4
Anysphere (Cursor) Series C 2025-06-05 AI / Developer Tools Private 924
Anthropic Series E 2025-03-03 AI Private ($3.5B Series E at $61.5B post-money valuation, led by Lightspeed; Bessemer, Cisco, D1, Fidelity, General Catalyst, Jane Street, Menlo, Salesforce Ventures, and Thrive participated) 282930
Isomorphic Labs Series A (led, $600M) 2025-03-31 AI / Drug Discovery Private 1031
Isomorphic Labs Series B (led, $2.1B) 2026-05-12 AI / Drug Discovery Private 32
Formation Bio Series D (participated, $372M) 2024-06-26 Biotech / AI Private 14434445
Wiz Growth 2024-05-07 Cybersecurity Private 1423
Base Power Series B (participated, $200M co-led by Addition, a16z, Lightspeed, Valor) 2025-04-08 Energy Private 952
Alsym Energy Growth ~2023 Energy / Batteries Private 4
Clair Early ~2021 Fintech / Payroll Private 4
Mercury Growth ~2022 Fintech / Banking Private 4
Hot Potato Early ~2011 Consumer / Social Shut down 3
Nasty Gal Early ~2012 Consumer / E-commerce Bankrupt (2016) 3
ResearchGate Early ~2012 Consumer / Academic Private 3
Fab Early ~2013 Consumer / E-commerce Shut down 2
Juicero Early ~2016 Consumer / Hardware Shut down 2
Visible Ideas Early ~2012 (founded) Enterprise Private 4
Codegen Seed (led, $16M at $60M post-money) 2023-11-16 AI / Developer Tools Private 343536
Revel Series A (led, $23.1M) 2025-04-17 Hardware Test / Engineering Private 953
Revel (follow-on) Series B ($150M, participated; led by Index Ventures) 2026-02-26 Hardware Test / Engineering Private ($1B+ val) 54
Scope Security Incubated ~2017 Enterprise / Security Private 12
Cadence Incubated ~2018 Enterprise Private 12
Shield Technology Partners Launch / Growth ($100M+ initial; $100M follow-on Feb 2026) 2025-06-05 AI / IT Services Private 4647
Rogo Series B (led, $50M) 2025-04-30 AI / Finance Private 33
Rogo (follow-on) Series D ($160M, participated; led by Kleiner Perkins) 2026-04-29 AI / Finance Private 20
Crete Professionals Alliance Growth ~2023 Enterprise / Services Private 4
Nourish Series B ($70M, participated; led by J.P. Morgan Private Capital) 2025-04-23 Health Tech / Nutrition Private 955
OpenEvidence Series B (participated, $210M) 2025-07-15 AI / Health Private ($3.5B valuation) 9373839
Figma Growth ~2020 Developer Tools / Design Public (IPO 2025) 9
Forus Growth (led, $160M at $1B val) 2026-05-12 Healthcare / AI / Pharmacy Private 4142
Socket Series C (led, $60M at $1B val) 2026-05-20 Cybersecurity / Software Supply Chain Private 48
NewLimit Series C (participated, $435M at $3.1B post-money) 2026-06-02 Biotech / Longevity / Cell Reprogramming Private 495051

Note: This table represents approximately 40% of Thrive’s ~199 known investments. Investment years use founding year as proxy where specific investment date is unknown, marked with “~YYYY” or “~YYYY (founded)”. Thrive’s strategy of accumulating positions through secondary/tender offers means some “growth” stage investments began as smaller positions in earlier rounds.

In Their Own Words

Joshua Kushner on Thrive’s identity:

“We’re building a company. That company just happens to be Thrive.” 11

“The company has a product and it is to invest and be the most meaningful partner to those that we’re fortunate enough to partner with.” 11

Joshua Kushner on the role of the investor:

“Our founders are heroes. We’re not Da Vinci. We’re Medici… our opportunity is to enable the artists that we’re fortunate enough to support to create their masterpieces.” 11

“We think of ourselves as a service provider.” 11

Joshua Kushner on concentration and discipline:

“Concentration is core to what we do. The only way to truly develop context on businesses is to spend meaningful time… to really understand every aspect of everything that we’re a part of in a very intimate way.” 11

“This industry is not just about the deals that you do, but it’s also about the things that you don’t do.” 11

Joshua Kushner on conviction:

“There will be bad quarters, there’ll be bad years, but if you believe in the people who are running the business, ultimately everything will end up okay.” 11

“We decide what team we’re going to play on, and play for that team. Ride or die.” 13

Joshua Kushner on OpenAI:

“I just couldn’t unsee it one night.” 11

“OpenAI is a very capital-intensive business. It was our job to get them that capital.” 11

Joshua Kushner on competition:

“The ethos of the firm is never sell against anyone else.” 11

Joshua Kushner on craft:

“If there’s nothing for us to create, then we won’t create. If there’s something really extraordinary for us to create, we’ll make sure that there’s deep intentionality around it.” 11

Joshua Kushner on Fund X:

“We are pleased to announce the close of Thrive X. Exceeding $10 billion, Thrive X comprises $1 billion designated for early-stage investments and $9 billion designated for growth-stage investments. We do not view this as a milestone, but as a commitment to the long work ahead.” 7

Kareem Zaki on Thrive’s one rule:

“We’ve really done it without any rules. We’ve been very opportunistic, and we’ve only really had one rule, and that is to be a part of category-defining companies with multi-decade tailwinds.” 12

“I wish that more and more people think about it as partnerships and not deals.” 12

What Founders Say

Kevin Systrom, Co-Founder of Instagram:

“The one person who was consistently there anytime I needed to ask a question, or work on things, or just as a friend, was Josh.” (Source: Fortune, 2024) 2

Brad Lightcap, COO of OpenAI:

“Josh’s priority was not to sort through anything related to the investment or Thrive. It was, ‘How are you? How’s the company? I’m here for you, I support you guys. What can I do to help?’” (Source: Fortune, 2024) 2

Chris Wanstrath, Co-Founder of GitHub:

“In Silicon Valley, you dismiss people who are kind as weak… It’s a lot more difficult to be kind than it is to be a hard-ass.” (Speaking about Kushner; Source: Fortune, 2024) 2

Sam Altman, CEO of OpenAI:

“Josh makes high-conviction bets on high-quality companies and founders, and he doesn’t care too much about what other investors think.” (Source: Fortune, 2024; also cited in TIME100 AI 2025) 210

David Tisch, Co-Founder of BoxGroup:

“Josh had access to capital and had access to a network and absolutely nailed it.” (Source: Fortune, 2024) 2

Josh Miller, Co-Founder of The Browser Company:

Miller noted that Kushner returned equity in The Browser Company, saying it was “the right thing to do.” (Source: Fortune, 2024) 2

Note: The Systrom, Lightcap, Wanstrath, Altman, and Miller quotes all come from a single Fortune profile of Kushner based on 35+ interviews. No independently sourced negative or critical founder testimonials were found in this research pass.

Sources

  1. Helion Energy press release, “Helion Raises $465 Million Series G Funding Round to Meet Surging Global Demand for Power,” June 4, 2026. Accessed June 2026. https://www.helionenergy.com/newsroom/helion-raises-465-million-series-g-funding-round-to-meet-surging-global-demand-for-power↩

  2. “How Josh Kushner built Thrive Capital and became a billionaire startup investor.” Fortune, 2024. https://fortune.com/longform/josh-kushner-net-worth-thrive-capital-investments-openai-100-billion-valuation/↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  3. “From $5M fund at 24 to $25 billion under management: how Josh Kushner built Thrive.” Product Market Fit Tech, 2025. https://www.productmarketfit.tech/p/how-josh-kushner-built-thrive-capital↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  4. “Thrive Capital.” Wikipedia, accessed March 2026. https://en.wikipedia.org/wiki/Thrive_Capital↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  5. “Josh Kushner’s Thrive Capital Raises $10 Billion in New Funding.” Bloomberg, February 17, 2026. https://www.bloomberg.com/news/articles/2026-02-17/josh-kushner-s-thrive-capital-raises-10-billion-in-new-funding↩↩↩↩

  6. “With $5B Fund IX, Josh Kushner’s Thrive Capital lands its biggest haul yet.” PitchBook, August 2024. https://pitchbook.com/news/articles/thrive-capital-5-billion-vc-fund↩↩

  7. Joshua Kushner (@JoshuaKushner), X post, February 2026. https://x.com/JoshuaKushner/status/2023732796649271619↩↩↩

  8. “Thrive raises $10B for new fund, its largest yet.” TechCrunch, February 17, 2026. https://techcrunch.com/2026/02/17/thrive-raises-10b-for-new-fund-its-largest-yet/↩↩↩

  9. “Thrive Capital — 2026 Investor Profile, Portfolio, Team & Investment Trends.” Tracxn, accessed March 2026. https://tracxn.com/d/venture-capital/thrivecapital/__0Dn7OZRV44joKbUVBLJqw7kgmFcBb6Hzue1mY_KmnPQ↩↩↩↩↩↩↩↩↩↩↩↩↩

  10. “Joshua Kushner: The 100 Most Influential People in AI 2025.” TIME, 2025. https://time.com/collections/time100-ai-2025/7305809/joshua-kushner/↩↩↩

  11. “Josh Kushner on Building Thrive.” Sourcery VC / Molly O’Shea, Substack, 2024. https://www.sourcery.vc/p/josh-kushner-on-building-thrive↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  12. “20VC: Thrive Capital’s Kareem Zaki on The One Rule That Drives Investment Decision-Making and Focus at Thrive.” The Twenty Minute VC, November 15, 2021. https://www.thetwentyminutevc.com/kareem-zaki↩↩↩↩↩↩↩↩↩

  13. “Josh Kushner’s Thrive Capital Raises $10 Billion in New Funding.” Advisor Perspectives, February 17, 2026. https://www.advisorperspectives.com/articles/2026/02/17/josh-kushners-thrive-capital-raises-10-billion↩↩

  14. “Eye On AI: Thrive Capital’s Busy Year.” Crunchbase News, 2024. https://news.crunchbase.com/ai/thrive-capital-openai-wiz-scale/↩↩↩↩↩↩

  15. “OpenAI raises $6.6B and is now valued at $157B.” TechCrunch, October 2, 2024. https://techcrunch.com/2024/10/02/openai-raises-6-6b-and-is-now-valued-at-157b/↩↩

  16. “Thrive Capital invested about $1 billion in OpenAI at a $285 billion valuation, source says.” CNBC, February 25, 2026. https://www.cnbc.com/2026/02/25/thrive-capital-openai-joshua-kushner.html↩

  17. “Miles Grimshaw leaves Benchmark to rejoin Kushner’s Thrive Capital.” TechCrunch, March 5, 2024. https://techcrunch.com/2024/03/05/miles-grimshaw-leaves-benchmark-to-re-join-kushners-thrive-capital/↩↩↩

  18. “A24 Secures New Investment By Josh Kushner’s Thrive Capital Valuing Company At $3.5 Billion.” Deadline, June 2024. https://deadline.com/2024/06/a24-new-investment-round-josh-kushner-thrive-capital-1235983300/↩

  19. Neuralink (@neuralink), X post, 2025. https://x.com/neuralink/status/192960480441190409↩↩

  20. PR Newswire, “Rogo Raises $160M Series D to Scale the Agentic Platform for Finance,” April 29, 2026. https://www.prnewswire.com/news-releases/rogo-raises-160m-series-d-to-scale-the-agentic-platform-for-finance-302756546.html↩

  21. “Robinhood stock-trading app confirms $110M raise at $1.3B valuation.” TechCrunch, April 26, 2017. https://techcrunch.com/2017/04/26/robincorn/↩

  22. “Data-labeling startup Scale AI raises $1B as valuation doubles to $13.8B.” TechCrunch, May 21, 2024. https://techcrunch.com/2024/05/21/data-labeling-startup-scale-ai-raises-1b-as-valuation-doubles-to-13-8b/↩

  23. “Wiz raises $1B at a $12B valuation to expand its cloud security platform through acquisitions.” TechCrunch, May 7, 2024. https://techcrunch.com/2024/05/07/wiz-raises-1b-at-12b-valuation-expanding-through-acquisitions/↩

  24. “Cursor’s Anysphere nabs $9.9B valuation, soars past $500M ARR.” TechCrunch, June 5, 2025. https://techcrunch.com/2025/06/05/cursors-anysphere-nabs-9-9b-valuation-soars-past-500m-arr/↩

  25. BusinessWire, “Scale AI Raises $1 Billion Series F to Push The Frontier of AI Data,” May 21, 2024. https://www.businesswire.com/news/home/20240521674964/en/Scale-AI-Raises-$1-Billion-Series-F-to-Push-The-Frontier-of-AI-Data↩

  26. TechCrunch, “Elon Musk’s Neuralink closes a $650M Series E,” June 2, 2025, accessed May 2026. https://techcrunch.com/2025/06/02/elon-musks-neuralink-closes-a-650m-series-e/↩

  27. SiliconANGLE, “Neuralink raises $650M at reported $9B pre-money valuation,” June 2, 2025, accessed May 2026. https://siliconangle.com/2025/06/02/neuralink-raises-another-650m-reported-9b-pre-money-valuation/↩

  28. Anthropic, “Anthropic raises Series E at $61.5B post-money valuation,” March 3, 2025, accessed May 2026. https://www.anthropic.com/news/anthropic-raises-series-e-at-usd61-5b-post-money-valuation↩

  29. TechCrunch, “Anthropic raises $3.5B to fuel its AI ambitions,” March 3, 2025, accessed May 2026. https://techcrunch.com/2025/03/03/anthropic-raises-3-5b-to-fuel-its-ai-ambitions/↩

  30. Lightspeed Venture Partners, “Lightspeed Announces Lead Investment in Anthropic’s $3.5B Series E Financing,” March 3, 2025, accessed May 2026. https://lsvp.com/stories/lightspeed-announces-lead-investment-in-anthropics-3-5b-series-e-financing/↩

  31. Isomorphic Labs, “Isomorphic Labs announces $600m external investment round,” March 31, 2025. Accessed May 2026. https://www.isomorphiclabs.com/articles/isomorphic-labs-announces-600m-external-investment-round — Confirms March 31, 2025 announcement; $600M first external funding led by Thrive Capital with GV participating and Alphabet (existing investor) following on. Cross-referenced with TechCrunch, “Alphabet’s AI drug discovery platform Isomorphic Labs raises $600M from Thrive,” March 31, 2025. https://techcrunch.com/2025/03/31/alphabets-ai-drug-discovery-platform-isomorphic-labs-raises-600m-from-thrive/↩

  32. Isomorphic Labs, “Isomorphic Labs announces Series B investment round,” May 12, 2026. Accessed May 2026. https://www.isomorphiclabs.com/articles/isomorphic-labs-announces-series-b-investment-round — $2.1B Series B announced May 12, 2026, led by Thrive Capital with Alphabet and GV continuing, and MGX, Temasek, CapitalG, and UK Sovereign AI Fund joining as new investors. ↩

  33. Rogo, “Rogo Raises $50M Series B from Thrive Capital, J.P. Morgan, and Tiger Global to Build Financial AI,” April 30, 2025. Accessed May 2026. https://rogo.ai/news/rogo-announces-50m-series-b — Confirms $50M Series B announced April 30, 2025, led by Thrive Capital at $350M post-money; J.P. Morgan Growth Equity Partners, Tiger Global, and Positive Sum Ventures participated. ↩

  34. TechCrunch, “Codegen raises new cash to automate software engineering tasks,” November 16, 2023. Accessed May 2026. https://techcrunch.com/2023/11/16/codegen-raises-new-capital-llm-automation-for-software-dev/ — Confirms November 16, 2023 announcement; $16M seed round led by Thrive Capital at $60M post-money valuation; angel participants include Quora CEO Adam D’Angelo and Instagram co-founder Mike Krieger. Quote from Thrive’s Philip Clark on AI agent thesis. ↩

  35. The SaaS News, “Codegen Closes $16 Million in Seed Round,” November 23, 2023. Accessed May 2026. https://www.thesaasnews.com/news/codegen-closes-16-million-in-seed-round — Contemporaneous coverage confirming $16M seed, Thrive Capital lead, San Francisco-based, angel participation from D’Angelo and Krieger. ↩

  36. Picus Capital, LinkedIn post sharing Codegen funding news, November 2023. Accessed May 2026. https://www.linkedin.com/posts/picus-capital_codegen-raises-new-cash-to-automate-software-activity-7131608858925412353-O_P_ — Independent confirmation of $16M seed round led by Thrive Capital with D’Angelo and Krieger as angels. ↩

  37. PR Newswire, “OpenEvidence, the Fastest-Growing Application for Physicians in History, Announces $210 Million Round at $3.5 Billion Valuation,” July 15, 2025, accessed May 2026. https://www.prnewswire.com/news-releases/openevidence-the-fastest-growing-application-for-physicians-in-history-announces-210-million-round-at-3-5-billion-valuation-302505806.html — Primary press release confirming July 15, 2025 announcement; $210M Series B at $3.5B valuation co-led by GV and Kleiner Perkins, with Sequoia, Coatue, Conviction, and Thrive participating. ↩

  38. hlth.com, “OpenEvidence Raises $210M, Launches Free AI Agent for Physicians,” July 17, 2025, accessed May 2026. https://hlth.com/insights/news/openevidence-raises-210m-launches-free-ai-agent-for-physicians-2025-07-17 — Independent confirmation of $210M Series B announced July 15, 2025; GV and Kleiner Perkins co-led; Thrive participated. ↩

  39. OpenEvidence Wikipedia article, accessed May 2026. https://en.wikipedia.org/wiki/OpenEvidence — Independent confirmation of July 2025 $210M Series B with Thrive Capital participation. ↩

  40. TechCrunch, “Anduril raises $5B, doubles valuation to $61B,” May 13, 2026. Accessed May 2026. https://techcrunch.com/2026/05/13/anduril-raises-5b-doubles-valuation-to-61b/ — Anduril’s $5B Series H closed May 13, 2026 at $61B post-money, co-led by Thrive Capital and Andreessen Horowitz. Cross-referenced with SiliconAngle, “Anduril doubles valuation to $61B in new $5B funding round,” May 13, 2026, https://siliconangle.com/2026/05/13/anduril-doubles-valuation-61b-new-5b-funding-round/ and Washington Technology, “Anduril hauls in $5B for Series H round,” May 13, 2026, https://www.washingtontechnology.com/companies/2026/05/anduril-hauls-5b-series-h-round/413515/.↩

  41. BusinessWire, “Forus Raises $160M to Build the Foundation for Modern Medicine,” May 12, 2026. Accessed May 2026. https://www.businesswire.com/news/home/20260512458472/en/Forus-Raises-$160M-to-Build-the-Foundation-for-Modern-Medicine — Confirms Thrive Capital led the $160M round announced May 12, 2026 at $1B valuation; General Catalyst, Accel, Bain Capital Ventures, Redpoint, BoxGroup, and Pear VC participated. Forus is the renamed company formerly known as Tandem. Kareem Zaki (Thrive partner) quoted. ↩

  42. General Catalyst, “Doubling Down on Forus,” May 12, 2026. Accessed May 2026. https://www.generalcatalyst.com/stories/doubling-down-on-forus — Investor announcement cross-referencing Thrive Capital’s lead role in the $160M round. ↩

  43. PR Newswire, “Formation Bio secures $372MM Series D funding to grow drug pipeline and continue expanding AI-driven drug development platform,” June 26, 2024. Accessed May 2026. https://www.prnewswire.com/news-releases/formation-bio-secures-372mm-series-d-funding-to-grow-drug-pipeline-and-continue-expanding-ai-driven-drug-development-platform-302182347.html — Primary press release. $372M Series D announced June 26, 2024; led by Andreessen Horowitz with significant participation from Sanofi; other participants: Sequoia, Thrive Capital, Emerson Collective, Lachy Groom, SV Angel Growth, FPV Ventures. Thrive partner Kareem Zaki joined as a board observer. ↩

  44. TechCrunch, “Formation Bio raises $372M to boost drug development with AI,” June 26, 2024. Accessed May 2026. https://techcrunch.com/2024/06/26/formation-bio-raises-372m-to-boost-drug-development-with-ai/ — Independent confirmation of June 26, 2024 Series D, $372M, a16z lead, Thrive Capital participant. ↩

  45. FierceBiotech, “AI-focused Formation secures Sanofi-backed $372M series D to license more drugs,” June 26, 2024. Accessed May 2026. https://www.fiercebiotech.com/biotech/ai-focused-formation-secures-sanofi-backed-372m-series-d-license-more-drugs — Contemporaneous biotech-industry press confirming June 26, 2024 Series D, $372M, a16z-led with Thrive among participants. ↩

  46. BusinessWire, “Thrive Holdings & ZBS Partners Launch Shield Technology Partners, an AI-enabled Platform for IT Services Businesses, with over $100M in Initial Funding,” June 5, 2025. Accessed May 2026. https://www.businesswire.com/news/home/20250605512954/en/Thrive-Holdings-ZBS-Partners-Launch-Shield-Technology-Partners-an-AI-enabled-Platform-for-IT-Services-Businesses-with-over-$100M-in-Initial-Funding — Primary launch announcement confirming Thrive Holdings co-founded Shield Technology Partners with ZBS Partners on June 5, 2025, with over $100M initial funding. ↩

  47. BusinessWire, “Shield Raises $100 Million From Thrive Holdings to Accelerate the Growth of its IT Services Platform,” February 2, 2026. Accessed May 2026. https://www.businesswire.com/news/home/20260202196878/en/Shield-Raises-$100-Million-From-Thrive-Holdings-to-Accelerate-the-Growth-of-its-IT-Services-Platform — Follow-on $100M from Thrive Holdings announced February 2, 2026. ↩

  48. Socket Blog, “Socket Raises $60M Series C at a $1B Valuation to Help Enterprises Build Securely With AI,” May 20, 2026. Accessed May 2026. https://socket.dev/blog/socket-raises-60m-series-c-press-release — Confirms Thrive Capital led Socket’s $60M Series C on May 20, 2026 at $1B valuation; a16z, Abstract Ventures, and Capital One Ventures participated. Cross-referenced with SiliconANGLE, “Code security startup Socket raises $60M in funding,” https://siliconangle.com/2026/05/20/code-security-startup-socket-raises-60m-funding/ and SecurityWeek, “Socket Raises $60 Million at $1 Billion Valuation,” https://www.securityweek.com/socket-raises-60-million-at-1-billion-valuation/.↩

  49. NewLimit blog, “NewLimit raises $435M led by Founders Fund to bring longevity medicines to human trials,” June 2, 2026. Accessed June 2026. https://blog.newlimit.com/p/newlimit-raises-435m-led-by-founders — $435M Series C led by Founders Fund; Thrive Capital among new investors alongside Greenoaks and Quiet Capital. ↩

  50. STAT News, “Longevity startup NewLimit raises $435 million ahead of first clinical trial,” June 2, 2026. Accessed June 2026. https://www.statnews.com/2026/06/02/longevity-startup-newlimit-announces-435-million-clinical-trial-financing/ — Independent confirmation: $435M Series C led by Founders Fund; ~$3.1B post-money valuation; Thrive Capital among participants. ↩

  51. Endpoints News, “Anti-aging startup NewLimit raises $435M at $3B+ valuation, eyes clinic in 2027,” June 2, 2026. Accessed June 2026. https://endpoints.news/anti-aging-biotech-newlimit-raises-435m-at-3b-valuation/ — Third independent confirmation of $435M Series C at $3.1B valuation with Thrive Capital as new investor. ↩

  52. Yahoo Finance / BusinessWire, “Base Power Raises $200M Series B to Reinforce the Texas Power Grid, Accelerate National Expansion, and Build American Manufacturing Capabilities,” April 8, 2025. Accessed June 2026. https://finance.yahoo.com/news/power-raises-200m-series-b-170400264.html — $200M Series B announced April 8, 2025, co-led by Addition, Andreessen Horowitz, Lightspeed Venture Partners, and Valor Equity Partners with Thrive Capital, Altimeter, Terrain, and Trust participating. Cross-referenced with a16z investment announcement https://a16z.com/announcement/investing-in-base-power/ and Wilson Sonsini deal advisory https://www.wsgr.com/en/insights/wilson-sonsini-advises-base-power-on-dollar200-million-series-b.html.↩

  53. Fortune, “Exclusive: Revel emerges from stealth with $30 million to prevent your critical hardware from exploding—literally,” April 17, 2025. Accessed June 2026. https://fortune.com/2025/04/17/exclusive-revel-emerges-from-stealth-with-30-million-to-prevent-your-critical-hardware-from-exploding-literally/ — Revel emerged from stealth April 17, 2025 with $30M total; Thrive Capital led the $23.1M Series A (Miles Grimshaw); Felicis and Abstract Ventures led seed. ↩

  54. BusinessWire, “Revel Raises $150M Series B to Modernize the Software Layer Behind Hardware Test and Control,” February 26, 2026. Accessed June 2026. https://www.businesswire.com/news/home/20260226807932/en/Revel-Raises-$150M-Series-B-to-Modernize-the-Software-Layer-Behind-Hardware-Test-and-Control — $150M Series B announced February 26, 2026, led by Index Ventures with major participation from Redpoint Ventures and returning investors Thrive Capital, Felicis, and Abstract Ventures, at $1B+ valuation. ↩

  55. BusinessWire, “Nourish Raises $70M Series B to Tackle Chronic Disease with AI-Powered Nutrition Care,” April 23, 2025. Accessed June 2026. https://www.businesswire.com/news/home/20250423010679/en/Nourish-Raises-$70M-Series-B-to-Tackle-Chronic-Disease-with-AI-Powered-Nutrition-Care — $70M Series B announced April 23, 2025, led by J.P. Morgan Private Capital’s Growth Equity Partners with Thrive Capital, Index Ventures, Y Combinator, Maverick Ventures, BoxGroup, Atomico, G Squared, and Pinegrove Opportunity Partners participating. ↩