Global billionaires Henry Kravis, Mukesh Ambani and Jorge Paulo Lemann are among the latest investors in venture capital firm Thrive Capital, founded by 37-year-old Josh Kushner. The five investors have taken a minority stake in the firm, pushing Kushner's net worth to $3.7 billion.
The five investors, who are each worth at least $123 billion, include Disney CEO Bob Iger and KKR & Co. The minority stake will give the group a say in the investments of Thrive Capital, which typically invests in tech startups.
The venture capital firm, which has made investments in companies such as Instagram, Warby Parker and Reddit, has been looking to diversify its portfolio and expand into other industries such as healthcare and finance. The new investors are expected to help Thrive Capital achieve these goals.
Kushner has been a major figure in the tech industry for several years, having founded multiple startups before launching Thrive Capital. He has been praised for his ability to identify and invest in tech companies before they become hits.
Despite his success, Kushner has recently come under scrutiny for his connections to the Trump administration. The venture capital is married to Ivanka Trump, and has been an advisor to the President for several years.
Kushner's connections to the Trump administration have caused some investors to shy away from Thrive Capital. But the new investors, who are all known for their business acumen, have given the venture capital firm a boost.
The new investors have also helped Thrive Capital gain access to capital, technical assistance and support. This will be crucial if the firm wants to keep up its current success rate of invest in companies before they become hits.
The latest invest group is just the latest example of how venture capital firms are becoming increasingly popular. With more money flowing into the tech industry, venture capital firms are becoming an attractive option for startups looking for capital.
This influx of money is expected to continue as venture capital firms become more popular. As more investors put their money into these firms, the more likely it is that new startups will be able to get the capital they need to start and grow.
