Founded in 2010 by Joshua Kushner, Thrive Capital has a strong track record of investing in high-growth startups, including notable names like Instagram, Stripe, and Skims.

The venture firm plans to focus on a variety of industries, including traditional sectors like accounting, to effectively integrate AI technologies.

Thrive Capital is launching a new initiative called Thrive Holdings, aimed at creating and acquiring companies that leverage artificial intelligence.

To kick off Thrive Holdings, the firm is in the process of securing around $1 billion in initial funding, drawing interest from existing investors such as pension funds and endowments.

This new strategy represents a significant shift for Thrive, as it seeks not only to invest but also to operate and grow the businesses it acquires.

Thrive Holdings is structured as a permanent capital vehicle, which will allow the firm to raise additional funds over time.