In an unexpected move, Miles Grimshaw announced today that he is rejoining Thrive Capital after working as a general partner at Benchmark for the past three years.
Grimshaw first joined Thrive, a New York–based venture firm that Joshua Kushner founded, in 2013. He is returning as a general partner.
In a post on X, Grimshaw said that was “elated to re-join the team at Thrive” but that he also “looked forward to continuing to partner with Benchmark, as Thrive has for many years.”
Kushner also shared the news on X, pointing out that during his previous time at Thrive, Grimshaw led investments in such companies as Airtable, Monzo (which raised another $430 million today), Lattice and Benchling.
He also wrote: “As we look ahead to the next chapter of the firm, and the extraordinary wave of innovation that lies ahead, Miles has a rare set of characteristics that make him a formidable partner to our founders.”
TechCrunch has reached out to both Grimshaw and Thrive for comment. Update: Thrive responded by pointing us to the blog post the firm published about the news.
When joining storied venture firm Benchmark in December of 2020, then-29-year-old Miles Grimshaw became its fifth general partner. He had similarly joined a team of four other partners at Thrive back in 2013.
The Financial Times reported in January that Thrive Capital was “preparing to ask investors for at least $3bn in fresh capital after the New York venture fund made mammoth bets on technology start-ups last year.” For example, in 2023, Thrive put more money into payments giant Stripe’s $6.5 billion raise, co-led a $300 million investment into fintech Ramp (at a lower valuation) and led a $25 million round into fintech Clair.
In February 2022, Thrive Capital, which was founded in 2009 by a then 25-year-old Kushner, announced it had closed its eighth fund with approximately $3 billion in capital commitments, $500 million of which it planned to invest in early-stage startups and another $2.5 billion that it had earmarked for later-stage companies.
Are you a VC industry insider with insight to share? Contact Mary Ann Azevedo on Signal at 408.204.3036.
Comment