Thrive Launches Eternal, Plans San Francisco Giants Stake

Thrive, the brand behind Joshua Kushner’s Thrive Capital, has launched Thrive Eternal, a permanent capital holding company focused on investing in iconic franchises and cultural institutions. Its first proposed deal is an ownership stake in the San Francisco Giants, a Major League Baseball team, after reaching an agreement that is subject to league approval.

Thrive said the new vehicle will be concentrated in a small number of assets it can own and steward over many decades. The firm said it sees these holdings as businesses with durable cultural resonance that can be enhanced by technology rather than displaced by it, expanding beyond Thrive’s investing in emerging technologies, the infrastructure behind them and the businesses they can transform.