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Mukesh Ambani, other billionaires buy stake in Josh Kushner’s VC Firm Thrive

India’s Mukesh Ambani, Brazil’s Jorge Paulo Lemann and France’s Xavier Niel will join KKR & Co. co-founder Henry Kravis and Walt Disney Co. Chief Executive Officer Robert Iger in investing $175 million to purchase a 3.3% stake in Thrive.

January 25, 2023 / 08:12 AM IST
RIL chairman and managing director Mukesh Ambani 
(Image: Reuters)

RIL chairman and managing director Mukesh Ambani (Image: Reuters)

A group of global billionaires worth at least $123 billion are buying a stake in Thrive Capital, the venture-capital firm founded by Josh Kushner.

India’s Mukesh Ambani, Brazil’s Jorge Paulo Lemann and France’s Xavier Niel will join KKR & Co. co-founder Henry Kravis and Walt Disney Co. Chief Executive Officer Robert Iger in investing $175 million to purchase a 3.3% stake in Thrive.

“These extraordinary operators have built storied institutions, achieved geographic preeminence, ushered beloved brands to even greater heights, and pioneered entirely new industries,” Thrive said in a statement on Tuesday posted on Medium.

The deal values Thrive at $5.3 billion, up from $3.6 billion in 2021, when it sold a stake to a unit of Goldman Sachs Group Inc., according to a spokeswoman for New York-based Thrive. Its total assets under management reached $15 billion last year.