Thrive Capital raises $1 bln sixth venture fund for multi-stage investing

Thrive Capital has raised $1 billion for a sixth early-stage and growth fund, emphasizing its multi-stage approach to investing.

The firm, founded by Joshua Kushner, co-founder of Oscar Health and brother of White House adviser Jared Kushner, said the fund earmarks $400 million for early-stage companies and $600 million for later-stage businesses.

Photo of Joshua Kushner.

“This will expand our capacity to invest in companies across a variety of stages, sectors and geographies,” the firm said in a blog post.

The firm’s previous 2016 fund was $700 million and its 2014 fourth fund was $400 million. It has $2.5 billion under management.

The firm has invested not only in Oscar, but in Warby Parker, Spotify, Slack and Robinhood. It focuses on internet and software companies.