Thrive raises $10B in new fund, largest yet

Thrive Capital just raised $10 billion for a new fund — the largest fund it has ever raised and nearly double the size of its last fund. Of this, $1 billion was allocated to early stage projects, while the rest is for growth investment, according to announcement from the company.

Thrive told Bloomberg that the most recent investment more subscribers. This is the company’s 10th fund — called Thrive X — and it comes as other big investments in the industry, including OpenAI, Stripe, and SpaceX, continue to increase in value. Some of the industry’s most popular products include Databricks, Anduril, and Cursor. The company also grows companies, having created 12 so far, at least six of which have now reached unicorn status.

The company’s strategy is a “deep commitment to the founding few,” the company said in its announcement. “Sustainability requires loyalty to our founders and the mission we return to.”

Speaking to Bloomberg, Josh Kushner, the founder of the company, said that he believes that the winners of the AI ​​boom “will be bigger than we can imagine,” and that the technology is still there.

Thrive’s big upgrade also suggests something else. IPO rumors have surrounded OpenAI and SpaceX in particular, bringing a lot of interest from a few partners who are hoping for a return. The two companies are likely to launch an unprecedented investment recovery few allies.

We’ve reached out to Thrive for more information.