Thrive Holdings
Thrive Holdings is a permanent capital vehicle founded by Joshua Kushner's Thrive Capital that acquires and overhauds legacy services companies—such as accounting and IT firms—by integrating AI into their workflows. The company has raised over $1 billion for this AI roll-up strategy and counts OpenAI as an equity stakeholder, with OpenAI embedding teams inside its portfolio companies to drive efficiency and service quality.
“In retrospect, it actually is a whole new category of venture. It's not replacing baby venture. It's kind of adding a whole new category on top. And the world needs that category because these companies aren't public. So the altimeters, the thrives, the recent late stage part of the business, all those guys have replaced what would have been public companies.”
Source→“Thrive Holdings: Thrive Capital vehicle to acquire and AI-transform service businesses - Raising $2B from Altimeter, D1 Capital, SoftBank”
Source→AI-extracted from podcast / newsletter / paper summaries. May contain errors.