Thrive Capital's Thrive Eternal makes its first bet: a stake in the San Francisco Giants
In April 2026, Thrive Capital founder Joshua Kushner announced Thrive Eternal, a permanent capital holding company focused on a small number of long-term investments in franchises and cultural institutions with "qualities that cannot be replicated by technology."
What's the deal? The vehicle's first investment is a minority, non-controlling stake in MLB's San Francisco Giants, subject to league approval. Former Disney CEO Bob Iger, who recently rejoined Thrive in an advisory capacity, is helping lead the effort. Thrive Eternal is initially funded by many existing investors in Thrive Capital's venture and growth-equity funds.
Wider context. The move reflects a broader pattern of AI-era technology investors acquiring scarce, un-replicable assets. In July 2026, a group led by the Khosla family — including Vinod KhoslaDealroom has a profile for this one. Try Dealroom → — agreed to buy the NFL's Seattle Seahawks for a record $9.6 billion.
Read more: WSJ · Axios · Sports Business Journal
