Key Takeaways
- • Thrive Capital now manages more than $65 billion in assets, up from a $10 million fund when Josh Kushner founded the firm, representing one of venture capital's most significant growth trajectories over the past decade.
- • Thrive raised $10 billion for its tenth fund in February 2026, the firm's largest fund ever, demonstrating sustained institutional confidence and positioning it among the world's most influential venture firms.
- • The firm's portfolio includes transformational exits and scale-ups: Instagram, Spotify, Stripe, and OpenAI represent some of the past decade's most notable startups backed by Thrive Capital.
- • In August 2026, Kushner and Thrive Capital agreed to purchase the NBA's Los Angeles Lakers for $12.5 billion alongside former Disney CEO Bob Iger, marking a significant diversification into sports ownership and demonstrating the firm's capital deployment scale beyond traditional venture investments.
- • Thrive's investor base comprises institutional heavyweights and billionaires, including Disney CEO Bob Iger, Henry Kravis, Mukesh Ambani, Jorge Paulo Lemann, and Xavier Niel, reflecting the firm's access to top-tier capital sources.
Summary
Josh Kushner's Thrive Capital has evolved into one of the world's most influential venture capital firms, managing over $65 billion in assets as of August 2026. The trajectory from a $10 million fund at inception to the current scale underscores Kushner's investment acumen and the firm's operational execution. In February 2026, Thrive closed its tenth fund with $10 billion in commitments, its largest fund raise to date, signaling sustained institutional confidence despite the broader venture capital market's cyclical pressures.
Thrive's investment thesis centers on backing operationally complex businesses across transformational sectors. The firm's portfolio achievements are anchored by early-stage investments in Instagram, Spotify, Stripe, and OpenAI—companies that collectively reshaped their respective industries and delivered substantial returns. This track record has attracted an elite investor base including Disney CEO Bob Iger, KKR co-founder Henry Kravis, Reliance Industries' Mukesh Ambani, 3G Capital's Jorge Paulo Lemann, and telecom entrepreneur Xavier Niel.
Beyond traditional venture investing, Kushner and Thrive Capital expanded into alternative assets in August 2026 by agreeing to purchase the NBA's Los Angeles Lakers for $12.5 billion in partnership with former Disney CEO Bob Iger. This acquisition demonstrates the firm's willingness to deploy capital into marquee sports franchises and reflects Kushner's broader strategic vision of diversifying returns beyond technology and innovation-focused investments. The deal size and partnership structure underscore Thrive's capital availability and institutional standing.
Thrive Capital's headquarters in Manhattan's Puck Building—owned by the Kushner family and where Kushner and his wife, model Karlie Kloss, reside—reflects the firm's entrenched position in New York's financial ecosystem. As the youngest son of real estate developer Charles Kushner (who became U.S. ambassador to France in May 2025), Kushner established Thrive independently and has built the firm's reputation on disciplined investment selection and operational support for portfolio companies requiring complex scaling strategies.
Thrive's investment thesis centers on backing operationally complex businesses across transformational sectors. The firm's portfolio achievements are anchored by early-stage investments in Instagram, Spotify, Stripe, and OpenAI—companies that collectively reshaped their respective industries and delivered substantial returns. This track record has attracted an elite investor base including Disney CEO Bob Iger, KKR co-founder Henry Kravis, Reliance Industries' Mukesh Ambani, 3G Capital's Jorge Paulo Lemann, and telecom entrepreneur Xavier Niel.
Beyond traditional venture investing, Kushner and Thrive Capital expanded into alternative assets in August 2026 by agreeing to purchase the NBA's Los Angeles Lakers for $12.5 billion in partnership with former Disney CEO Bob Iger. This acquisition demonstrates the firm's willingness to deploy capital into marquee sports franchises and reflects Kushner's broader strategic vision of diversifying returns beyond technology and innovation-focused investments. The deal size and partnership structure underscore Thrive's capital availability and institutional standing.
Thrive Capital's headquarters in Manhattan's Puck Building—owned by the Kushner family and where Kushner and his wife, model Karlie Kloss, reside—reflects the firm's entrenched position in New York's financial ecosystem. As the youngest son of real estate developer Charles Kushner (who became U.S. ambassador to France in May 2025), Kushner established Thrive independently and has built the firm's reputation on disciplined investment selection and operational support for portfolio companies requiring complex scaling strategies.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.