Thrive Capital raises more than $10 billion in its largest fund ever
Thrive Capital has raised more than $10 billion in its largest fund ever. The fundraising was heavily oversubscribed and the cash influx was double the size of its last fund.
Thrive Capital has raised more than $10 billion — its largest fund ever, giving the venture capital firm an expanded war chest to invest in areas ranging from artificial intelligence applications and infrastructure to space, robotics and life sciences. The fundraising was heavily oversubscribed, meaning Thrive turned away billions in prospective investments, the firm said. The cash influx, double the size of its last fund, reflects the outsized success of several of the firm’s startups in recent years, including OpenAI, SpaceX and Stripe — all now among the world’s most valuable private companies.
The backer of OpenAI, Stripe, SpaceX and Skims said it is taking a “ride-or-die” approach to investing.