Top VCs and their Portfolios : BeAVC
- Part of Series Startups Blog, Series & Guide
Larger Venture Firms
Previously with Thrive, Moved to Benchmark Capital
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
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