Thrive Capital’s first formal investor letter describes the performance of its 2022 early-stage venture fund, which has grown substantially from its original size. Bloomberg reports the fund, a $516 million vehicle that included early bets on companies such as OpenAI, SpaceX, and Anduril Industries, is worth more than $3.7 billion as of the end of June.
The letter underscores how the fund’s gains are tied largely to OpenAI and SpaceX. Bloomberg frames the news around fund valuation and the role of early investments, while The Next Web focuses on how the letter reflects the “AI era” and portrays OpenAI-linked growth as the dominant factor in the fund’s results. Both outlets reference the investor letter as the first formal update and describe the same overall increase in the fund’s value.
Details beyond the reported valuation and the companies named are not consistently specified across the two accounts, including any discussion of specific holdings, returns, or timelines beyond the June valuation figure.
