New York-based Thrive Holdings, an offshoot of Joshua Kushner’s Thrive Capital, is in discussions to raise at least $2 billion, according to a Bloomberg report.
The firm, launched by Thrive Capital in 2025 and operated by partner Anuj Mehndiratta, focuses on acquiring and operating businesses in traditional service sectors, such as IT and accounting, and upgrading them using artificial intelligence. The model mirrors Kushner’s earlier approach with Oscar Health, rethinking business operations from the ground up rather than simply cutting costs.
Sources say that Thrive Holdings has already secured approximately $1 billion in initial commitments for the round. Following strong investor demand, the company is now exploring raising an additional $1 billion, though discussions are ongoing and details could change.
The development comes just weeks after Thrive Capital’s strategic bet on OpenAI.
The US firm invested at least $1 billion in OpenAI at a $285 billion valuation, well below the $840 billion at which OpenAI ultimately closed its $110 billion funding round in February 2026, backed by SoftBank, Nvidia, and Amazon.
As reported by WSJ, “the deal was structured in a way similar to a call option,” allowing Thrive to secure shares at a preferential price: a structure that proved highly advantageous as OpenAI’s valuation more than tripled from Thrive’s entry point.
Thrive Holdings currently operates two core businesses: Crete Professionals Alliance, one of the fastest-growing accounting roll-ups in the US, and Shield Technology Partners, an IT services provider. Together they employ over 1,000 people and serve more than 10,000 clients. Thrive has invested $500 million in Crete and, alongside partner ZBS Partners, has pledged more than $100 million in Shield, which was targeting 10 acquisitions by the end of 2025.
