#Josh Kushner’s Thrive Capital raises $2B for new investments

Josh Kushner’s venture capital firm has raised another $2 billion that it plans to invest in a mix of startups and more mature companies.

Thrive Capital announced its seventh venture fund Thursday, saying it will put $1.5 billion into late-stage firms and $500 million toward early-stage investments.

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

Thrive has backed buzzy startups in a range of industries since Kushner — the husband of supermodel Karlie Kloss and brother of ex-White House adviser Jared Kushner — founded the firm in 2009.

Its latest fund is twice as large as the $1 billion investment pool that Thrive, which currently manages a $9 billion portfolio, announced in 2018.

A spokesman for Thrive declined to say what kinds of companies the firm will target for its next investments, but its previous bets include tech stalwarts such as Instagram and Spotify along with upstarts such as Robinhood, the stock-trading app that ended up at the center of the recent GameStop frenzy.

Thrive also invested in Oscar Health, the tech-focused health insurance firm that Kushner co-founded with Mario Schlosser in 2012. The Manhattan-based company, which has 529,000 members across 18 states, filed paperwork last week to go public on the New York Stock Exchange.