Thrive Capital Raises $150 Million

Posted Sep 6, 2012

Thrive Capital is a venture capital company that is based in Manhattan and is run by Josh Kushner.  Thrive has raised $150 million for their latest fund as they are seeking to raise its profile and become more competitive against larger companies.  Thrive spent aronud 10 weeks raising the fund and have received commitments from new and existing limited partners like Princeton University, Hall Capital Partners, and the Wellcome Trust.

The fund was oversubscribed and will operate under a broad mandate.  Thrive raised a total of $200 million across three funds.  ?Thrive is opportunity driven,? stated Kushner in an interview with The New York Times. ?We invest in assets as opposed to stage or geography.?  Josh Kusher is the son of real estate mogul Charles Kushner and brother of Jared Kushner, the owner of The New York Observer.  Josh spent the last 3 years investing in social companies and Internet startups.

Josh was an early investor in, Hot Potato (sold to Facebook), and GroupMe (sold to Skype).  His company one was of the lead investors in Instagram’s $50 million financing rounds.  That round was closed just several days before Facebook acquired Instagram for around $1 billion.  Since Facebook’s stock price dropped, the deal ended up being worth around $735 million.