Thrive Capital Raises More Than $10 Billion for Its Largest Fund

NEW YORK — February 17, 2026 — Thrive Capital has raised more than $10 billion for its largest investment programme to date, expanding the firm's capacity to support companies across artificial intelligence, computing infrastructure, space, robotics, software and life sciences.

The fundraising is approximately twice the size of Thrive's previous flagship pool and was heavily oversubscribed. The firm says the scale will allow it to make substantial long-term commitments while continuing to work with founders through multiple stages of company development.

A concentrated strategy at greater scale

Thrive Capital was founded by Josh Kushner in 2010 and has built its model around a relatively concentrated portfolio. The new capital does not change that principle: the firm intends to identify a limited number of businesses with the potential to define large markets and remain an active partner as those companies grow.

Artificial intelligence is a central theme because demand now spans applications, model development, data infrastructure and physical systems. Space, robotics and life sciences extend the same thesis into sectors where software, engineering and capital-intensive research increasingly overlap. Information about the firm's investment approach and portfolio is available on the official Thrive Capital website.

Areas supported by the new programme

• AI applications: software that turns model capability into useful products and operating tools.
• Infrastructure: compute, data and systems required to train and deliver advanced models.
• Robotics: intelligent machines operating in manufacturing, logistics and other physical settings.
• Space: launch, communications and services serving a growing commercial market.
• Life sciences: platforms that combine biology, computation and new development methods.

Long-duration capital for company building

The size of the fund gives Thrive room to participate in early rounds and to continue investing as successful companies require larger amounts of capital. That continuity can reduce the need for founders to rebuild investor relationships at every stage, while the firm can apply accumulated knowledge of a business to later decisions.

A larger pool also requires discipline. Deploying capital simply to match the fund's size could weaken returns or expose portfolio companies to unrealistic expansion. Thrive's stated approach is to remain selective, accept periods of concentrated exposure and reserve capacity for businesses that demonstrate durable technical and commercial progress.

The fundraising reflects institutional demand for established venture managers despite uncertainty around valuations and exit markets. Thrive has benefited from early or sustained positions in technology businesses that reached significant private-market scale. The new programme gives it additional capacity, but performance will depend on entry prices, governance and the operating results of future portfolio companies.

Measuring the next investment cycle

The practical milestones will extend beyond the amount raised. Investors will watch how quickly commitments are made, how much capital is reserved for follow-on rounds and whether portfolio companies build revenue and defensible technology rather than relying on market enthusiasm.

The firm will also need to manage different development timelines. Enterprise software can reach customers quickly, while biotechnology, robotics and space projects may require years of engineering and regulatory work. A long-duration fund can accommodate those differences when investment pacing and reserves are aligned with each sector.

With more than $10 billion of fresh capacity, Thrive Capital enters its next cycle with one of the largest pools in venture investing. The firm plans to apply that scale through concentrated partnerships rather than a broad index of startups.

About Thrive Capital

Thrive Capital is a New York investment firm founded in 2010 by Josh Kushner. It partners with technology and science companies across stages, with investments spanning software, financial technology, consumer products, artificial intelligence, infrastructure and life sciences.