--- title: Josh Kushner raised $2bn to buy the companies AI is... description: Thrive Holdings, Josh Kushner's private equity-style vehicle spun out of Thrive Capital, raised over $2bn at a $12bn valuation from SoftBank, D1 Capital and... canonical: https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4 twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Josh Kushner raised $2bn to buy the companies AI is coming for | daily.dev og:description: Thrive Holdings, Josh Kushner's private equity-style vehicle spun out of Thrive Capital, raised over $2bn at a $12bn valuation from SoftBank, D1 Capital and... og:url: https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4 og:image: https://api.daily.dev/og/posts/F7dEmIbV4.png og:image:alt: Josh Kushner raised $2bn to buy the companies AI is coming for og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Josh Kushner raised $2bn to buy the companies AI is coming for **[The Next Web](https://daily.dev/sources/tnw)** · 6 min read · 0 upvotes · 0 comments ## Summary Thrive Holdings, Josh Kushner's private equity-style vehicle spun out of Thrive Capital, raised over $2bn at a $12bn valuation from SoftBank, D1 Capital and Altimeter, marking its first outside funding. Unlike typical AI companies that sell software, Thrive buys accounting and IT services firms outright, embeds AI engineers inside them, and keeps the resulting margin. It now owns more than 70 companies across its Current (accounting) and Shield (IT) arms, and is launching a third vertical targeting permitting and regulatory work for infrastructure like data centers and power plants. OpenAI holds an ownership stake in Thrive Holdings and has sent staff to work inside its portfolio companies, while Thrive Capital is also one of OpenAI's largest backers. Similar implementation-focused ventures include OpenAI's DeployCo with TPG and Bain, and Anthropic's Ode with Blackstone, though Thrive is distinct in owning rather than servicing its clients. All performance metrics cited (98% tax accuracy, 36x faster help desk resolution) come from Thrive itself, unaudited and without published baselines. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### What is Thrive Holdings and how does its business model differ from typical AI startups? Thrive Holdings, spun out of Thrive Capital by Josh Kushner in 2025, buys accounting and IT services firms outright rather than selling AI software or licenses. It embeds its own engineers inside acquired companies to rebuild workflows, owning over 70 businesses including Current (accounting, 50+ firms) and Shield (IT, ~20 firms), keeping the margin instead of billing clients for services. _Anyone tracking how AI reshapes service industries can follow ownership-based rollup strategies like this one on daily.dev._ ### How much money did Thrive Holdings raise and who invested? Thrive Holdings raised more than $2bn at a $12bn valuation, led by SoftBank Group, D1 Capital Partners, and Altimeter Capital. This was the first time the vehicle took outside capital, having previously run on roughly $1bn in commitments from Thrive Capital's own institutional base; total capital raised since inception now exceeds $3bn. _Investors weighing AI infrastructure bets can track deal terms like this one on daily.dev._ ### What is OpenAI's relationship to Thrive Holdings? OpenAI took an ownership stake in Thrive Holdings in December 2025, and the deal sent OpenAI employees to work directly inside Thrive's portfolio companies. Thrive Capital, the parent firm, is also one of OpenAI's largest backers, creating a circular ownership structure where OpenAI owns part of a company spun out of a firm that owns part of OpenAI. _Developers mapping the tangled AI investment ecosystem can follow these ownership ties on daily.dev._ ## Similar posts on daily.dev - [OpenAI-backed Thrive Holdings raises $2B to bring AI to the enterprise](https://daily.dev/posts/openai-backed-thrive-holdings-raises-2b-to-bring-ai-to-the-enterprise-b0vzaki6r) · TechCrunch · 1 upvotes · 0 comments - [OpenAI takes stake in Thrive Holdings, which invested in it](https://daily.dev/posts/openai-takes-stake-in-thrive-holdings-which-invested-in-it-1unjmouhy) · The Register · 1 upvotes · 0 comments - [Thrive Capital’s first investor letter shows how completely OpenAI has come to define it](https://daily.dev/posts/thrive-capital-s-first-investor-letter-shows-how-completely-openai-has-come-to-define-it-j91ali5x4) · The Next Web · 0 upvotes · 0 comments - [OpenAI’s investment into Thrive Holdings is its latest circular deal](https://daily.dev/posts/openai-s-investment-into-thrive-holdings-is-its-latest-circular-deal-byoktbq8q) · TechCrunch · 0 upvotes · 0 comments - [Joshua Kushner’s Thrive Capital Discloses $215 Million Amazon Stake](https://daily.dev/posts/joshua-kushner-s-thrive-capital-discloses-215-million-amazon-stake-xoxxftama) · The Next Web · 0 upvotes · 0 comments --- Tags: [#venture-capital](https://daily.dev/tags/venture-capital), [#openai](https://daily.dev/tags/openai), [#future-of-work](https://daily.dev/tags/future-of-work), [#softbank](https://daily.dev/tags/softbank) [View this post on daily.dev](https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Josh Kushner raised $2bn to buy the companies AI is coming for","url":"https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4"},"datePublished":"2026-08-13T14:15:57.619Z","dateModified":"2026-08-13T14:16:26.356Z","description":"Thrive Holdings, Josh Kushner's private equity-style vehicle spun out of Thrive Capital, raised over $2bn at a $12bn valuation from SoftBank, D1 Capital and...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/fd928658cc731776a72afdbb8460a016?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/fd928658cc731776a72afdbb8460a016?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"venture-capital,openai,future-of-work,softbank","timeRequired":"PT6M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"Josh Kushner raised $2bn to buy the companies AI is coming for"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/josh-kushner-raised-2bn-to-buy-the-companies-ai-is-coming-for-f7demibv4#faq","mainEntity":[{"@type":"Question","name":"What is Thrive Holdings and how does its business model differ from typical AI startups?","acceptedAnswer":{"@type":"Answer","text":"Thrive Holdings, spun out of Thrive Capital by Josh Kushner in 2025, buys accounting and IT services firms outright rather than selling AI software or licenses. 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