Bob Iger rejoins Thrive Capital as an advisor

Bob Iger is returning to Thrive Capital to serve as an advisor, marking his second stint at the venture capital firm. This transition comes shortly after Iger stepped down as the CEO of Disney, a media conglomerate he led for nearly two decades. In his new advisory capacity, which is likely not a full-time commitment, Iger is expected to work with Thrive’s investment staff and its portfolio founders. Iger also already owns an ownership stake in the firm.

This appointment marks a return to the firm for Iger, who has a history with the organization. He previously served a two-month stint as a venture partner—which functions as a senior advisory role within a venture capital firm—at Thrive in late 2022. However, his tenure at the firm was cut short when the Disney board of directors asked him to return and retake the helm of the media conglomerate. This request followed his initial departure from Disney in 2020.

Thrive Capital continues to scale its operations and expand its financial reach. The firm manages over $50 billion in assets under management, according to data from PitchBook. In February, the firm announced that it had successfully raised $10 billion in capital commitments for its 10th fund, which represents the largest fund raised in the firm’s 17-year history.

Thrive holds significant stakes in several technology companies, with a portfolio that spans artificial intelligence, financial services, and aerospace. Its investment portfolio includes:

• OpenAI, the artificial intelligence company;
• Stripe, the financial services company;
• SpaceX, the aerospace company; and
• Cursor, a software company in which Thrive holds a 7% ownership stake.

According to a report from Bloomberg, Cursor is currently linked to a potential sale to SpaceX. The potential transaction could be worth about $4.2 billion.

Thrive’s founder, Josh Kushner, welcomed Iger’s return to the firm, noting that his leadership is particularly valuable at this stage of the firm’s growth. “Bob leads with boldness and conviction because he knows what he is building and why. He is rejoining Thrive at a time when that kind of leadership matters most,” Kushner stated.

Why it matters

Iger’s return to the venture capital sector marks a new phase in his post-Disney career. For Thrive Capital, securing an experienced corporate leader provides additional guidance for its investment team and portfolio founders as the firm manages its largest fund to date.