26-Year-Old Instagram Investor Joshua Kushner Has Raised A $150 Million Fund

Josh Kushner

[credit provider=”Business Insider”]

Joshua Kushner has been investing in startups for two years. In that short time, he’s made a lot of smart moves.One of his first investments was a Hot Potato, a startup that was later acquired by Facebook. Then he invested in GroupMe, which was acquired for ~ $80 million by Skype.

This year Kushner, 26, invested in Instagram’s $50 million round. Days later it was acquired by Facebook for $1 billion.

Kushner’s early wins landed his firm Thrive Capital a second, $40 million fund last year. Today Thrive Capital announced a new $150 million fund.

It took Kushner about 10 weeks to raise the fund, says The New York Times’ Evelyn Rusli. It was oversubscribed.

Kushner’s other early investment wins include Fab.com, which recently raised $105 million, hot crowdfunding startup Kickstarter, and Dwolla, a round that was so competitive 700 investors inquired.

Kushner isn’t the first successful businessman in his family. His father was real estate mogul Charles Kushner, and his brother Jared runs the New York Observer.

Although it’s too early to judge Kushner’s venture capital career (the best funds in history have an average hold time of ~ 7 years per investment), he’s off to a promising start.

His strategy: “Thrive is opportunity drive,” Kushner told The New York Times. “We invest in assets as opposed to stage or geography.”

And despite any Facebook fallout, Kushner is optimistic about the startup environment.

“Many see the way the Internet has already transformed our daily lives and conclude that most of the change that was going to happen already has,” he tells NYT. “I am of the belief that it is only the beginning.”