"Turpentine VC" | Venture Capital and Investing

E14: A Deep Dive into Thrive Capital's Investment Strategy

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Nov 15, 2023

Thrive Capital discusses their investment strategy in late-stage companies like Stripe and Slack, their approach to fund size and timing, and the benefits of a concentrated portfolio. They also talk about bridging the gap between New York and San Francisco for investment opportunities, supporting founders by being great thought partners, and prioritizing breakout companies. Lastly, they discuss their focus on delivering value to founders through talent recruitment and how they consider macro factors in their investment strategies.

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INSIGHT

Thrive Capital's Vision

Thrive Capital saw venture capital shifting from backing science projects to building consequential businesses.
They wanted to be opportunistic and concentrated, focusing on category-defining companies.

INSIGHT

Balancing Concentration and Opportunism

Thrive Capital balances concentration and opportunism by focusing on category-defining companies with long-term tailwinds.
Their lean team allows for collaboration and engagement across various investment dimensions.

INSIGHT

Thrive Capital's Team Structure

Thrive Capital's lean, generalist team prioritizes being thought partners to founders throughout their journey.
They value being involved from the earliest stages, including incubation and early-stage investing.

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Today we're joined by Kareem of Thrive Capital for one of the most extensive conversations we've had on the show—we cover the core insight that drove Thrive to invest in late-stage companies like Stripe and Slack, how they approach thinking about fund size and timing, the benefits of a concentrated portfolio, and more. If you’re looking to improve your sourcing, tracking, and due diligence, check out: https://synaptic.com/turpentine

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RELATED SHOWS:

If you like Turpentine VC, check out our show The Limited Partner with David Weisburd, where David talks to the investors behind the investors: https://link.chtbl.com/thelimitedpartner

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X / TWITTER:

@kareemszaki (Kareem)

@ThriveCapital (Thrive Capital)

@eriktorenberg (Erik)

@TurpentineVC

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TIMESTAMPS:

(00:00) Intro

(3:03) How does Thrive balance an opportunistic vs a focused approach

(07:01) Thrive's structure and core insights

(14:57) Sponsor: Synaptic

(15:50) On Thrive's DNA

(18:06) Kareem's insights on selling

(24:01) Thrive's history

(29:45) Sponsor: Oracle

(33:10) Kareem's insights on the impact team

(36:21) On incubations

(39:45) On regulated or capital intensive industries

(43:06) Thrive and healthcare

(49:37) How does Thrive think about macro?

(53:14]) The future of Thrive

(55:25) Kareem on making bets on young people and cultivating talent

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.