Josh Kushner's Thrive raised $10B+ for its tenth and largest fund, lifting its AUM to ~$50B; sources: it distributed 64% of capital raised during the 2021 peak
Bloomberg Caroline Hyde
Related Coverage
- Thrive X — We are pleased to announce the close of Thrive X. Exceeding $10 billion … Thrive
- Thrive X is a real privilege: the chance to go deeper with the founders we already support today, and to partner early with the ones who will push the horizon forward in the years ahead. … Krithika S.
- Thrilled to share that Thrive X has officially closed at $10+ billion. We are so incredibly grateful to our limited partners who continue … Erin
- We are pleased to announce the closing of Thrive X, with over $10 billion in commitments. We are deeply grateful for the founders we are fortunate … Jed Feldman
- It is a privilege and joy to work with our founders each day and to partner deeply with them as they craft the future. … Nworah Ayogu
- It is a real joy to get to work with our founders each day and to deeply partner with them on ushering products and entire industries into a new age. … Kareem Zaki
- Today we announced Thrive X: a $10B fund to continue backing category-defining companies. We're grateful for the trust and partnership of our LPs and focused on the work ahead 🙏 … Ashwin Budhiraja
- I'm excited to share that Thrive X has closed at $10+ billion. We are so grateful for the trust and partnership of our Limited Partners … Phylicia Wilkov
- One of the reasons I love working at Thrive is because it feels like working at a startup. There are many late nights and weekends … Kelly Sims
- Bravo to my friends at Thrive. They took a risky bet on us 5 years ago and have been adding rediculous value in our corner ever since. Matthew de Jonge
Discussion
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@joshuakushner
Joshua Kushner
on 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.
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@sajithw
Sajith Wickramasekara
on x
Great news for founders. Thrive has led or been a meaningful part of every Benchling round for more than a decade. Concentration and loyalty to say the least! Very lucky to be in business together.
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@jacksondahl
Jackson Dahl
on x
Josh and Thrive lead with a tremendous amount of care, which is an unusual word for capitalists and yet I suspect any who know them well would agree.
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@pitdesi
Sheel Mohnot
on x
“We do not hedge” in a world where Sequoia and Founders Fund are invested all 3 major private model companies (X, Anthropic, OpenAI). I do wonder what benefits accrue to them as a result of not hedging in that race.
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@sourceryy
@sourceryy
on x
.@JoshuaKushner does not hedge. Philip Clark on why Thrive's philosophy of concentrated bets is the winning strategy: “It allows us to be really deeply aligned with the founders we work with.” “If you are working with a life's work founder—this is a portfolio of one for them.” [v…
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@romainhuet
Romain Huet
on x
Over the years, I've had the chance to see the Thrive team operate up close. What stands out most is the depth of conviction. They are in your corner in a unique way. They choose carefully, commit deeply, and stay with founders for the long arc. That kind of partnership is rare.
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@signulll
@signulll
on x
i've been to thrive a handful of times because i've got friends there, their office is absurdly gorgeous, & i've gotten a chance to witness some genuinely cool incubations. cool to see what an institution it's become. i kinda think of it as a gravity well for nyc tech. love the
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@lulumeservey
Lulu Cheng Meservey
on x
Refreshing: “We do not hedge. Concentration demands loyalty to the founders and missions we back. In this moment, exposure alone is not a strategy.” Loyalty is a moat
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@andrei_serban
Andrei Serban
on x
There is no gap between what Thrive says and what they do. Every firm talks about being founder-first, going deep with their founders, etc., but I've never quite seen a firm do it the way they do. They partner with us in a way that has set an unreasonably high bar for other
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@sama
Sam Altman
on x
Extremely grateful to work with Josh. No one could ask for a more committed, more thoughtful, or harder-working investor.
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@ivanhzhao
Ivan Zhao
on x
I first knew Josh and Thrive as “the firm in NYC”. Then I kept discovering my favorite people there: people you want to debate ideas with, or grab a meal and drinks after (rare among investors). A firm is its people. Thrive has real ones. Happy to see them win and close Thrive X
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@kellylsims
Kelly Sims
on x
One of the reasons I love working at Thrive is because it feels like working at a startup. There are many late nights and weekends, because the people here share an ambition to help founders create the most impactful companies of our generation. Our commitment to them is
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@nchirls
Nicholas Chirls
on x
This is correct, don't get it twisted —> “We are deeply aware that we are not the main character. The founders that we are fortunate enough to partner with are the artists.”
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@matthuang
Matt Huang
on x
Collaborating with Josh and the team at Thrive has always been a joy for us at Paradigm. But working with them as an investor in Tempo has given new appreciation for just how long-term and partnership-oriented they are. Congrats!
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@taylorcsargent
Taylor Sargent
on x
I like this part: “We do not hedge. Concentration demands loyalty to the founders and missions we back. In this moment, exposure alone is not a strategy. Judgment without commitment is not enough. Advantage will accrue to those who choose deliberately, commit deeply, and endure
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@matthdejonge
Matthew de Jonge
on x
Thrive was the first to back us 5 years ago and has remained an unbelievably great partner ever since: leading subsequent rounds, helping us bring in the right partners, help with recruiting, data, PR, and so much more. Thank you Thrive and congratulations on Thrive X!
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@willmanidis
Will Manidis
on x
“patient capital will eat the world” [image]
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@ciaomack
Mackenzie Burnett
on x
in the big and small, high and low moments of building ambrook, Josh has always encouraged me to be myself. that conviction in a founder as a person, not just in their company, is rare. it has helped us build something authentic and different in pursuit of a larger purpose; it
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@harrystebbings
Harry Stebbings
on x
The sign of a great person is when they help with no expectation of anything in return. Since I was 18, Josh has been a friend and mentor. He did this when I offered nothing in return. Time, advice, guidance, the man is a G. I am bias but Josh and @milesgrimshaw are the best!
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@jlopas
Justin Lopas
on x
Big congrats to the team at Thrive. A truly excellent group of people helping to build some of the world's most important organizations.
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@danprimack
Dan Primack
on x
Well above what they originally planned to raise.