pitchbook.com·Feb 17, 2026
Thrive Capital has closed its 10th flagship fund at over $10 billion, with significant investments in SpaceX and OpenAI expected to yield substantial returns from upcoming IPOs, highlighting the firm's strategy of making large, selective bets.
Thrive Capital's strategy of making few but substantial investments is paying off, as evidenced by their $10 billion fund raise, which is poised to benefit from upcoming IPOs of SpaceX and OpenAI. Their approach highlights a significant trend where large, established venture funds are increasingly dominating the market, capitalizing on mega-IPOs while emerging funds struggle to keep pace.