Thrive Holdings, the year-old holding company affiliated with Josh Kushner’s Thrive Capital, is reportedly raising about $2 billion from a group of high-profile investors to expand its AI-driven acquisition strategy.
The financing is expected to include backing from SoftBank, Altimeter Capital, and D1 Capital Partners, The Information reported. The capital would be used to acquire traditional service businesses and overhaul their operations using artificial intelligence.
Rather than investing directly in AI startups, Thrive Holdings acquires controlling stakes in established service businesses that have already consolidated smaller operators, then deploys AI to automate workflows and improve efficiency.
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