Josh Kushner’s Thrive Fund grows sevenfold to $3.7 billion on AI bets
Thrive Capital's 2022 venture fund, initially valued at $516 million, surged to over $3.7 billion by June 2023, driven by strategic investments in AI firms like OpenAI and SpaceX. CEO Josh Kushner's letter to investors revealed that 90% of the fund was concentrated in its top 15 positions. Thrive plans to pursue a minority investment from existing and new shareholders.