Thrive raises $10B for new fund, its largest yet | TechCrunch

"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 is dedicated to early-stage investments, while the rest is for growth-stage investments, according to an announcement from the firm. Thrive told Bloomberg that this latest fundraise was oversubscribed. This is the firm's 10th fund - called Thrive X - and comes as some of the firm's biggest investments, including OpenAI, Stripe, and SpaceX, continue to soar in value."

"Some of the firm's other notable investments include Databricks, Anduril, and Cursor. The firm also incubates companies, having spun up 12 so far, with at least six now having reached unicorn status. The firm's strategy is to "commit deeply to a small number of founders," the firm said in its announcement. "Concentration demands loyalty to the founders and missions we back." Speaking to Bloomberg, Josh Kushner, founder of the firm, said he believed the winners of the AI boom would "be bigger than we can ever imagine," and that the technology is still nascent."

Thrive Capital raised $10 billion for Thrive X, its largest and tenth fund, nearly double the size of its previous fund. The fund allocates $1 billion to early-stage investments and the remainder to growth-stage companies. The raise was oversubscribed and builds on major holdings such as OpenAI, Stripe, and SpaceX, which have surged in value. Other portfolio companies include Databricks, Anduril, and Cursor. Thrive has incubated 12 companies, at least six of which became unicorns. The firm focuses on deep commitments to a small number of founders and anticipates significant upside from AI winners and potential IPOs.

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