Joshua Kushner founded Thrive Capital in 2009, at 24 years old.
General Catalyst co-founder Joel Cutler provided the initial $5 million in
seed money for the firm in 2010 as well as introduced investors to the firm and Kushner. Jared sold his entire Thrive Capital stake to avoid conflict of interest between him and the
Trump administration. In May 2021,
Petershill Partners 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 and
crypto assets. In January 2023, a group of five investors,
Bob Iger,
Mukesh Ambani,
Henry Kravis,
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. In November 2024,
Financial Times detailed how Thrive’s strategy is “investing heavily in fewer companies [to] provide 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 ==