Newspaper article International New York Times

Thrive Capital Fund Raises $700 Million

Newspaper article International New York Times

Thrive Capital Fund Raises $700 Million

Article excerpt

With the new financing, the firm, known for early investments in companies like Instagram and Warby Parker, will be valued at just under $1.5 billion.

Thrive Capital, which gained fame with early investments in technology darlings and then began incubating businesses like health insurers, is about to become bigger.

Thrive said on Monday that it had raised $700 million for its fifth fund, pushing the firm's overall size to just under $1.5 billion.

Over its six years, Thrive has become a quiet force in venture capital. At its helm is Joshua Kushner, the younger son of a New York-area real estate family -- his brother is Jared Kushner, the son-in-law of Donald J. Trump -- who has carved his own path.

Since its founding, the firm has invested in several businesses, including the computer code repository GitHub, the fitness class discounter ClassPass and the men's grooming start-up Harry's. …

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