Thrive Capital, a New York-based venture capital firm focused on internet and software investments, closed its latest funds, at $1 billion.
According to a post, the new raise include:
– a $400MM fund designated for early stage companies; and
– a $600MM fund for later stage companies.
Thrive VI will continue to follow the firm’s stage-agnostic approach incubating businesses (such as Oscar, Cadre, and Cedar), partnering with entrepreneurs early in their development (Glossier, Warby Parker, Compass) and participating in later stage investments in category-defining companies (Spotify, Instagram, Twitch, GitHub, Slack, Robinhood and Stripe).
Led by Josh Kushner, the founder of Oscar, the firm has 2.29 billion assets under management including:
– a $10m 2009 debut fund
– a $40m 2011 second fund
– a $150m 2012 third fund
– a $400m 2014 fourth fund
– a $700m 2016 fifth fund, and
– this 1 billion sixth fund.