Founded in 2009 by Josh Kushner, then in his mid-twenties, out of New York. Initially dismissed as a small consumer fund, it earned its reputation through Instagram and a string of concentrated bets, and incubated companies including health insurer Oscar.
Concentrated, high-conviction multi-stage: few positions, very large follow-ons into winners (notably leading multiple OpenAI rounds).
AI, fintech, consumer internet, software, healthcare
Instagram, Stripe, OpenAI, GitHub, Spotify, Slack, Warby Parker, Ramp
Instagram ($1B to Facebook), GitHub ($7.5B to Microsoft), Slack ($27.7B to Salesforce), Spotify direct listing
Thrive invested in Instagram's Series B days before Facebook bought it for $1B in 2012, roughly doubling its money in about a week.
| Company | Rounds | Invested |
|---|---|---|
| OpenAI AI | 4 rounds, 1 led | $131.5B |
| Stripe Fintech | 2 rounds | $13B |
| Databricks AI | 2 rounds, 2 led | $11B |
| Anduril Industries Hardware | 1 round, 1 led | $5B |
| Ramp Fintech | 6 rounds, 1 led | $2.7B |
| Anysphere DevTools | 1 round | $2.3B |
| Isomorphic Labs Biotech | 1 round, 1 led | $2.1B |
| Base Power Energy | 1 round | $1B |
| Trade Republic Fintech | 1 round | $900M |
| Gorillas E-Commerce | 1 round | $858.4M |
| Helion Energy | 1 round, 1 led | $465M |
| OpenEvidence Healthtech | 2 rounds, 1 led | $450M |
| Physical Intelligence robotics | 1 round | $400M |
| Pleo Fintech | 2 rounds, 1 led | $350M |
| Sierra AI | 1 round | $350M |
| Chai Discovery Biotech | 2 rounds | $200M |
| Imprint Fintech | 2 rounds | $188M |
| Rogo Fintech | 1 round | $160M |
| Nourish Healthtech | 1 round | $100M |
| Pitch SaaS B2B | 1 round | $85M |
| Mojo Fintech | 1 round, 1 led | $75M |
| Socket Cybersecurity | 1 round, 1 led | $60M |
| Parafin Fintech | 1 round | $60M |
| Essential AI AI | 1 round | $56.5M |
| Mesh Optical Technologies Hardware | 1 round, 1 led | $50M |
| Check FoodTech | 1 round | $35M |
| Stytch Cybersecurity | 1 round, 1 led | $30M |
| Clair Fintech | 1 round, 1 led | $25M |
| Console SaaS B2B | 1 round, 1 led | $23M |
| Modern Life InsurTech | 1 round, 1 led | $20M |
| Pipo Saude Healthtech | 1 round, 1 led | $20M |
| Pipo Saúde Healthtech | 1 round, 1 led | $19M |
| Sparx Fintech | 1 round | $3.1M |