Updated
Updated · Bloomberg · Aug 14Thrive Capital’s 2022 Fund Swells to $3.7 Billion on OpenAI and SpaceX Bets
2 articles · Updated · Bloomberg · Aug 14Summary
- $516 million is now worth more than $3.7 billion in Thrive Capital’s 2022 early-stage fund, according to a letter sent to limited partners this week.
- OpenAI, SpaceX and Anduril were among the fund’s early investments, driving the sharp increase in value through the end of June.
- The $3.7 billion figure is net of fees and other charges, underscoring how strongly a concentrated set of AI, space and defense bets has performed.
Insights
Beyond staggering paper gains, what hidden strategy is Thrive Capital using to quietly modernize traditional industries with AI? How did a single venture fund turn $516 million into $3.7 billion in just a few years amidst widespread market volatility?