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THRIVE CAPITAL'S $3.7B FUND FUELED BY OPENAI BETS

DEV DESK1 MIN READ
SAT, AUG 15, 2026

■ AI-SUMMARIZED FROM 3 SOURCES ▸ TIMELINE

Joshua Kushner published his first formal investor letter for Thrive Capital, disclosing that the firm's 2022 early-stage fund has grown to $3.7 billion in value. The $516 million fund made early investments in OpenAI, SpaceX, and Anduril Industries.

Kushner's letter replaces the typical investor day and provides a rare public update on Thrive's performance. The 2022 fund's growth reflects significant gains from its OpenAI stake, which has become the venture firm's most valuable holding. Beyond early-stage bets, Thrive is expanding into public markets. The firm recently purchased approximately $215 million in Amazon shares, marking an aggressive pivot toward established companies. This shift signals Thrive's evolution from a traditional early-stage venture firm toward a broader investment strategy. The $3.7 billion valuation demonstrates the outsized returns generated by OpenAI's rapid rise and subsequent funding rounds. Thrive's early backing of the AI leader has positioned the firm as a top-tier venture player despite being relatively young in the competitive landscape.

■ SOURCES

Bloomberg TechBloomberg TechBloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

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