Top VCs and their Portfolios : BeAVC

By pjain      Published March 15, 2021, 4:56 a.m. in blog Business-Management   

Larger Venture Firms

Benchmark Capital

Miles Grimshaw

  • Previously with Thrive, Moved to Benchmark Capital

  • Software companies

  • Airtable

Medium Venture Firms

Les Funtleyder, E Squared Asset Management

  • Focuses on health care investment

Politically connected VCs, Funding Sources

Thrive VC, Joshua Kushner

  • Joshua Kushner founded Thrive in New York in 2009, at the age of 25
  • His team built a reputation as low-key, nerdy investors who prefer sifting through balance sheets and strategy documents than pontificating on social media.

Kushner has benefited from a high-powered network to get exposure to big names and advisors, even though startups may not care. - Employees include former staff members in both the George W. Bush and Barack Obama administrations.

  • It compensated for its immaturity with ADVISORS. Early backers included Princeton University and Peter Thiel, and in 2013, Thrive hired Jon Winkelried, a former president of Goldman Sachs who is now co-chief executive of the investment giant TPG, as a senior adviser.

  • Thrive first focused on consumer-facing businesses

  • Thrive’s investments include early-stage start-ups and so-called growth rounds in older, more established companies. Unusually, it also incubates companies, including Cadre and Oscar

  • Warby Parker

  • the eyeglasses retailer

  • Instagram 2008+ Fb Acq $1b

  • Thrive's first blockbuster hit and RAPID-speed
  • Thrive invested in 2012 at a $500 million valuation as part of a financing round, only to see Facebook agree to buy the social network for $1 billion 72 hours later.

  • Jet - 2016 exit to Walmart for 3b+ the e-commerce platform

  • Github 2018 exit

  • Thrive had invested $150 million for a 9 percent stake
  • the company was sold to Microsoft in 2018 for $7.5 b

  • Oscar Health 2021 IPO

  • Financials not so good, their execution hasn’t been spectacular
  • After its 2021 Q1 IPO at $8b mcap, warned may not turn profitable for some time
  • Thrive has a SPECIAL relationship, as it was specifically incubated - and Oscar is named after Mr. Kushner’s grandfather

  • Vimeo - upcoming

  • One of the first outside investors in Vimeo, the video platform owned by IAC
  • Anjali Sud, CEO was won over to Thrive VC's insanely dense, nuanced analysis of Vimeo and our market.
  • Now she texts or calls someone from Thrive most days for advice or guidance
  • It prepares to be spun off from IAC this year
  • It also raised money Nov'20 at a $2.75b valuation, by Jan'21 raised at $6b

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