Thrive Capital Secures Record $5 Billion in Biggest-Ever Venture Fundraising

Thrive Capital has reached a historic milestone by closing its largest-ever fundraising round, securing a remarkable $5 billion for its new venture fund, Thrive IX. This significant achievement highlights Thrive’s pivotal role in the resurgence of investor interest, particularly in the rapidly evolving artificial intelligence sector.

We are humbled to announce the close of Thrive IX. Exceeding $5 billion, Thrive IX comprises $1 billion designated for early-stage investments and $4 billion designated for growth-stage investments.

At Thrive we aim to be concentrated in both people and ideas. The ways in which… pic.twitter.com/WE5eDsCWEr

— Joshua Kushner (@JoshuaKushner) August 5, 2024

The newly raised capital will be divided into $1 billion for early-stage investments and a substantial $4 billion for growth-stage opportunities. This brings Thrive Capital’s total assets under management to nearly $15.6 billion, reflecting the firm’s impressive growth since its inception.

Founded 15 years ago, Thrive Capital has built a notable portfolio that includes high-profile investments in Instagram, GitHub, and Spotify. Its most significant investment to date is a $1.8 billion stake in Stripe, a payments provider currently valued at $50 billion. Stripe ranks as the third-most valuable U.S. startup, following SpaceX and OpenAI.