Technical

Srinivasa Reddy Kandi: Thrive Capital Closes Record $10B Fund to Double Down on AI and Growth Bets

February, 18, 2026-02:29

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Thrive Capital Closes Record $10B Fund to Double Down on AI and Growth Bets:

Thrive Capital has secured $10 billion for its newest investment vehicle, marking the largest fund in the firm’s history and nearly twice the size of its previous raise. Of the total, $1 billion is earmarked for early-stage startups, with the remaining capital allocated to growth-stage investments.

The new fund, Thrive X, represents the firm’s tenth fund and was reportedly oversubscribed. The raise comes at a time when several of Thrive’s high-profile portfolio companies—such as OpenAI, Stripe, and SpaceX—have seen significant increases in valuation. Other notable investments include Databricks, Anduril Industries, and Cursor.

Beyond investing, Thrive also incubates startups. To date, it has launched 12 companies, at least six of which have achieved unicorn status.

The firm emphasizes a focused investment approach, committing substantial capital to a select group of founders and long-term missions. Founder Josh Kushner noted that the ultimate winners of the AI boom could surpass current expectations, describing the technology’s growth as still in its early stages.

Thrive’s record-breaking fundraise also fuels speculation around potential IPOs from major portfolio companies, particularly OpenAI and SpaceX. Such public offerings could unlock substantial returns for limited partners and trigger a significant wave of capital distributions.

Author: Kandi Srinivasa Reddy, Srinivasa Reddy Kandi, #KandiSrinivasaReddy, #SrinivasaReddyKandi