26-Year-Old Investor Raises $40 Million More For His Fund, Thrive Capital

Today is a good day to be 26-year-old investor, Josh Kushner.

One of his portfolio companies, GroupMe, was just acquired by Skype for $85 million. And it turns out Kushner has been raising some money of his own.

Thrive Capital, Kushner’s VC firm, just raised another $40 million for its second fund.

The fund has a co-investment structure with limited partners, which means that Kushner could be writing much larger checks. Thrive will have the flexibility to scale up to $100 million. Investors include Princeton University, Hall Capital Partners, Wellcome Trust, and Peter Thiel.

In the year since Kusher raised the first $10 million for Thrive, he has made 27 investments. His portfolio includes HotPotato which sold to Facebook, Onswipe, Art.sy, Fab, Warby Parker, Zaarly, Kickstarter, Greplin and BankSimple.

Kushner is the founder of Brazil gaming company, Vostu. Vostu currently has 35 million registered users in Brazil, 600 employees, and it has raised $50 million to date. His brother, Jared, runs The New York Observer. Thrive is currently a team of three, and will likely hire a few more members with the fresh cash.

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