Thrive Capital is an American

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...

firm based in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

. It focuses on media and internet investments. The firm was founded by

Joshua Kushner Joshua Kushner (born June 12, 1985) is an American billionaire businessman, heir and investor. He is the founder and managing partner of the venture capital firm Thrive Capital, co-founder of Oscar Health, and the son of billionaire real estate ...

who is also co-founder of

Oscar Health Oscar Health, Inc. is an American health insurance company, founded in 2012 by Joshua Kushner, Kevin Nazemi and Mario Schlosser, and is headquartered in New York City. The company focuses on the health insurance industry through telemedicine, ...

and minority owner of the

Memphis Grizzlies The Memphis Grizzlies (referred to locally as the Grizz) are an American professional basketball team based in Memphis, Tennessee. The Grizzlies compete in the National Basketball Association (NBA) as a member of the league's Western Conference ...

Background

Joshua Kushner is son of billionaire

real estate developer Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to othe ...

Charles Kushner Charles Kushner (born May 16, 1954) is an American real estate developer, former federal inmate, and disbarred former attorney. He founded Kushner Companies in 1985. In 2005, he was convicted of illegal campaign contributions, tax evasion, a ...

. His brother

Jared Kushner Jared Corey Kushner (born January 10, 1981) is an American businessman and investor. He served as a senior advisor to 45th U.S. president Donald Trump, his father-in-law. Since leaving the White House, Kushner founded Affinity Partners, a pri ...

is the son-in-law and former senior advisor to former U.S. President

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of P ...

. After graduating from

Harvard College Harvard College is the undergraduate college of Harvard University, an Ivy League research university in Cambridge, Massachusetts. Founded in 1636, Harvard College is the original school of Harvard University, the oldest institution of higher lea ...

in 2008, Kushner spent a year at Goldman Sachs working in its

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

division. In 2009, he enrolled at Harvard Business School and used his earning from Goldman Sachs to invest in companies like Kickstarter and

GroupMe GroupMe is a mobile group messaging app owned by Microsoft. It was launched in May 2010 by the private company GroupMe. In August 2011, GroupMe delivered over 100 million messages each month and by June 2012, that number jumped to 550 million. I ...

. He caught the attention of Joel Cutler, co-founder of

General Catalyst General Catalyst, formerly General Catalyst Partners (GCP), is an American venture capital firm focused on early stage and growth investments. The firm was founded in 2000 in Cambridge, Massachusetts, and also has offices in San Francisco, Palo A ...

who convinced Kushner to start his own venture capital firm. At only 24, Kushner founded Thrive Capital in 2009. Cutler and General Catalyst provided the initial $5 million in

seed money Seed money, sometimes known as seed funding or seed capital, is a form of securities offering in which an investor invests capital in a startup company in exchange for an equity stake or convertible note stake in the company. The term ''seed'' ...

for the firm in 2010 as well as introduced investors to the firm and Kusher. In 2011, the firm raised another $40 million from

Princeton University Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the ...

Wellcome Trust The Wellcome Trust is a charitable foundation focused on health research based in London, in the United Kingdom. It was established in 1936 with legacies from the pharmaceutical magnate Henry Wellcome (founder of one of the predecessors of Glaxo ...

Peter Thiel Peter Andreas Thiel (; born 11 October 1967) is a German-American billionaire entrepreneur, venture capitalist, and political activist. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in F ...

and other investors. In 2017, the firm underwent complications as it was connected to Donald Trump who was now serving as the U.S. President. Concerns were raised about a conflict of interest from its connection to the

Trump administration Donald Trump's tenure as the 45th president of the United States began with his inauguration on January 20, 2017, and ended on January 20, 2021. Trump, a Republican from New York City, took office following his Electoral College victory ...

. Kushner's brother, Jared who was Trump's son-in-law and senior advisor was also a general partner at the firm and had holdings in it. In that year, Jared sold his entire stake in the firm and severed his connections with it. In May 2021, Petershill Partners had invested around $120 million in Thrive Capital for a 3% stake. It valued the firm at $3.6 billion. In September 2021, the firm registered as an

investment adviser A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory ...

with the

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

. The firm stated it planned to have some funds that will make investments in

public companies A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (list ...

and cryptocurrencies. The firm is noted for being an early investors in several high profile technology platforms such as Instagram,

GitHub GitHub, Inc. () is an Internet hosting service for software development and version control using Git. It provides the distributed version control of Git plus access control, bug tracking, software feature requests, task management, continu ...

Spotify Spotify (; ) is a proprietary Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is one of the largest music streaming service providers, with over 456 million monthly active us ...

and

Twitch Twitch may refer to: Biology * Muscle contraction ** Convulsion, rapid and repeated muscle contraction and relaxation ** Fasciculation, a small, local, involuntary muscle contraction ** Myoclonic twitch, a jerk usually caused by sudden muscle co ...

. Notable employees of the firm include

Jared Weinstein Jared Weinstein is a former government official. He served as the special assistant and personal aide to U.S. President George W. Bush from 2006 - 2009. Prior to this post, he served as an aide to White House Chiefs of Staff Andy Card and Josh ...

and Willem Van Lancker.

Funds

Notable investments

* Affirm Holdings *

Artsy Artsy, formally known as Art.sy Inc is a New York City based online art brokerage. Its main business is developing and hosting website for numerous galleries as well as selling art for them. It utilizes a search engine and database to draw conn ...

Airtable Airtable is a cloud collaboration service headquartered in San Francisco. It was founded in 2012 by Howie Liu, Andrew Ofstad, and Emmett Nicholas. Airtable is a spreadsheet-database hybrid, with the features of a database but applied to a spre ...

* Cadre *

ClassPass ClassPass Inc. is the largest health club aggregator by number of club partnerships, with over 30,000 health clubs in 28 countries. For a subscription fee, it provides both online and in-person access to different fitness classes such as yoga, st ...

* Compass, Inc. * Fanatics *

* Greenhouse Software * Hims & Hers Health *

Instacart Instacart is an American company that operates a grocery delivery and pick-up service in the United States and Canada. The company offers its services via a website and mobile app. The service allows customers to order groceries from participatin ...

* Instagram * Kickstarter * Lemonade, Inc. *

Mapbox Mapbox is an American provider of custom online maps for websites and applications such as Foursquare, Lonely Planet, the ''Financial Times'', The Weather Channel, Instacart Inc. and Snapchat. Since 2010, it has rapidly expanded the niche of c ...

Monzo Monzo Bank Ltd () is an neobank, online bank based in the United Kingdom. Monzo was one of the earliest of a number of new app-based challenger banks in the UK. Originally operating through a mobile app and a prepaid debit card, in April 2017 ...

* Neverware *

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Opendoor Opendoor Technologies Inc. is an online company that buys and sells residential real estate. Headquartered in San Francisco, it makes instant cash offers on homes through an online process, makes repairs on the properties it purchases and relists ...

OpenGov OpenGov is a government technology company that offers cloud software for public sector accounting, planning, budgeting, citizen services, and procurement. OpenGov serves over 1,000 cities, counties, and state agencies across 49 states. In Apri ...

Patreon Patreon (, ) is a membership platform that provides business tools for content creators to run a subscription service. It helps creators and artists earn a monthly income by providing rewards and perks to their subscribers. Patreon charges a com ...

* Plaid *

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Skims Sher-i-Kashmir Institute of Medical Sciences (Urdu: ), often abbreviated as SKIMS, is the largest medical Institute under State Legislature Act in the Indian union territory of Jammu and Kashmir. SKIMS is the only medical university of the un ...

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Spring Spring(s) may refer to: Common uses * Spring (season) Spring, also known as springtime, is one of the four temperate seasons, succeeding winter and preceding summer. There are various technical definitions of spring, but local usage of ...

* Stripe * Tictail *

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References

External links

* {{authority control American companies established in 2009 Financial services companies based in New York City Financial services companies established in 2009 Investment companies based in New York City Venture capital firms of the United States