Thrive raises $10 billion in new funding, its largest funding to date

Thrive Capital just raised $10 billion for a new fund. This is the largest fund the company has raised to date, nearly double the size of its previous fund. The company said $1 billion of this will be earmarked for early-stage investments and the rest for growth-stage investments.

Thrive told Bloomberg that the fundraiser 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. The company’s other notable investments include Databricks, Anduril, and Cursor. The company also incubates companies and has spun up 12 companies so far, with at least six currently achieving unicorn status.

The company’s strategy is to be “deeply committed to a small number of founders,” the company said in a statement. “Focus requires loyalty to our founders and the mission we stand for.”

Josh Kushner, the company’s founder, said in an interview with Bloomberg that he believes the winners of the AI ​​boom will be “bigger than we imagine” and that the technology is still in its infancy.

Thrive’s massive funding suggests otherwise. Rumors of IPOs have been flying around, especially around OpenAI and SpaceX, which are attracting a lot of interest from limited partners awaiting returns. These two companies could lead to unprecedented flows of capital to limited partners.

We’ve reached out to Thrive for more information.