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Thrive Capital is a prominent venture capital firm based in New York City, founded in 2009 by Joshua Kushner when he was just 24 years old. The firm has experienced remarkable growth, evolving from a $5 million seed fund to managing over $285 billion in assets under management (AUM). Thrive's latest fund, Thrive X, launched in February 2026, has a target size of over $10 billion, reflecting the firm's aggressive scaling strategy. Thrive Capital is recognized for its concentrated investment approach, which has yielded a 25% internal rate of return (IRR) from 2022 to 2024. The firm has successfully backed 35 unicorns, facilitated 12 IPOs, and participated in 46 acquisitions, establishing itself as a key player in the venture capital landscape.
Thrive Capital's reputation is further solidified by its status as the largest venture capital investor in OpenAI, a cornerstone of its investment strategy. The firm emphasizes a philosophy of deep engagement with a select number of companies, allowing for a more profound understanding of each sector in which it invests. This concentrated strategy not only enhances the firm's ability to support its portfolio companies but also fosters strong relationships with founders, enabling Thrive to provide tailored guidance and resources throughout the growth journey.
Thrive Capital's investment focus is primarily on technology sectors, with a strong emphasis on artificial intelligence (AI), fintech, and software as a service (SaaS). The firm identifies AI as a generational opportunity, with OpenAI serving as a cornerstone of its investment thesis. Thrive's concentrated portfolio allows for deep sector knowledge, enabling the firm to make informed decisions and provide valuable insights to its portfolio companies.
In addition to AI, Thrive invests in enterprise software, financial infrastructure, consumer internet, entertainment and media, healthcare, defense technology, and developer tools. The firm employs a multi-stage investment strategy, providing capital from seed funding through growth equity, with check sizes ranging from $5 million to over $1 billion for high-conviction investments. Thrive's approach is characterized by a commitment to investing deeply in fewer companies, which allows for closer relationships with founders and a better understanding of the unique challenges and opportunities within each sector.
Thrive Capital boasts an extraordinary portfolio of high-profile technology companies, reflecting its strategic focus on transformative ventures. Notable investments include OpenAI, where Thrive is recognized as the largest venture capital investor, and other significant companies such as Instagram, GitHub, Spotify, and Stripe. Thrive's early investment in Stripe, which has grown to a valuation exceeding $140 billion, exemplifies the firm's ability to identify and support high-potential startups.
Other key portfolio companies include Twitch, Oscar Health, Anysphere/Cursor, Scale AI, A24, Ramp, Anduril, Databricks, and Figma, which is set to go public in 2025. Thrive's concentrated investment strategy has resulted in a portfolio that not only includes 35 unicorns but also has facilitated 12 successful IPOs and 46 acquisitions, showcasing the firm's effectiveness in nurturing and scaling innovative companies across various sectors.
Joshua Kushner - Founder & Managing Partner. Joshua is a co-founder of Oscar Health and has been recognized on the Forbes Midas List for his contributions to the venture capital industry. His leadership has been instrumental in Thrive's rapid growth and success.
To pitch Thrive Capital, founders should visit their contact page at thrivecap.com/contact or email info@thrivecap.com. The firm is open to both warm introductions and cold applications, and pitches should include a clear articulation of the business model, market opportunity, and team dynamics.
In February 2026, Thrive Capital closed its Thrive X fund at over $10 billion, marking a significant milestone in the firm's history. Recently, Thrive invested $1 billion in OpenAI at a valuation of $285 billion, further solidifying its position as the largest venture capital backer of the AI research organization. Additionally, Thrive's portfolio saw notable exits with Wiz being acquired by Alphabet in 2025 and Figma preparing for its IPO in 2025.
Thrive Capital invests across multiple stages, including seed, Series A, Series B, Series C, and growth equity. This multi-stage approach allows the firm to support companies at various points in their development, from early-stage startups to more mature businesses seeking growth capital.
Founders can pitch Thrive Capital by visiting their contact page at thrivecap.com/contact or by emailing info@thrivecap.com. The firm welcomes pitches from both warm introductions and cold applications, emphasizing the importance of a well-structured presentation that highlights the company's vision, market potential, and team.
Thrive Capital primarily focuses on technology sectors, with a strong emphasis on artificial intelligence (AI), fintech, and software as a service (SaaS). The firm also invests in enterprise software, consumer internet, entertainment and media, healthcare, defense technology, and developer tools.
Thrive Capital's check sizes range from $5 million to over $1 billion, depending on the stage of investment and the conviction in the opportunity. This flexibility allows Thrive to support companies with varying capital needs throughout their growth journey.
Thrive Capital primarily invests in North America, with a strong presence in the United States. The firm's portfolio includes companies from Silicon Valley, New York City, and other regions, reflecting its commitment to identifying high-potential startups across the continent.
The application process for Thrive Capital involves submitting a pitch through their contact page or via email. Founders should prepare a comprehensive presentation that outlines their business model, market opportunity, and team dynamics to effectively communicate their vision to the Thrive team.
Thrive Capital offers extensive support to its portfolio companies, leveraging its deep sector knowledge and connections within the technology ecosystem. The firm emphasizes a partnership philosophy, providing guidance and resources to help founders navigate challenges and capitalize on growth opportunities.
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