Thrive Capital raises $10B for 10th fund
Thrive Capital has pulled in a massive $10 billion for its 10th fund, Thrive X—almost double what it raised last time.
Most of this cash ($9B) is going toward growth-stage startups, especially those working on AI, infrastructure, robotics, and life sciences.
The rest will back early-stage companies.
VC's bets have paid off big
Thrive's bets have paid off big: they got into OpenAI when it was valued at $29B, SpaceX is now worth $1.25 trillion after merging with xAI, and Stripe might see a $140B tender offer soon.
The firm focuses on working closely with a select group of founders and has helped launch 12 startups—half of which are already unicorns.
Kushner on AI
Founder Josh Kushner says the winners in AI could be "be bigger than we can ever imagine," calling the tech still super early.
With OpenAI and SpaceX possibly going public soon, Thrive's investors are hoping for huge returns—and there was so much demand to invest that Thrive actually had to turn people away.