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New York City, NY
Select a value
We are all builders
We debate ideas vigorously yet trust everyone to be their own goalie. We might not always agree, but we always commit as a team once a decision is made. We are one team, one culture––all in it together.
Decision making at Thrive is governed neither by one person nor by general consensus.
At most VC firms, deal flow discussions are limited to members of the Investing team. We, on the other hand, encourage everyone at Thrive to participate in our deal flow calls because we trust each other to bring the right information to the decision table, encourage and challenge one another,, and make what we believe is the right call. We believe that the best ideas may come from anyone at Thrive.
We also trust the conviction of the decider. Once a decision has been made, the entire team commits to following through on it, whether or not we all agree with the rationale leading to the decision. We stand by our decision down the line, whether or not it turns out to be profitable for Thrive, because every decision, win or lose, truly is our decision. This is a team sport for us - we’re in it together, regardless of whether things pan out in our favor.
Below are two examples of how this value manifests in deal flow.
In 2016, we had the opportunity to invest in Slack, which was gaining early traction as a leading workplace communication tool. We now all know the company to be a huge success, but at the time, investing in Slack wasn’t an obvious choice. Although Slack was gaining popularity, the market for workplace collaboration tools was crowded, and there were serious concerns about the price.
Josh led the Slack investment process. He felt confident in Slack’s long-term potential, but as the decision drew closer $40 million at a $3.8B post-money valuation caused him pause.
Although Kareem wasn’t deeply involved in the underwriting process and had never even met Slack’s founder, he saw the potential in the deal from a different perspective. Kareem pushed Josh to trust his conviction. Despite the nerves, Josh ultimately listened to his gut, the deep work the team had done, and Kareem’s encouragement. He pushed forward with the deal.
Slack went on to become one of Thrive’s most significant investments, reinforcing the idea that the best decisions are born from a balance of team insight and individual belief.
As Josh later reflected, “Who gets the credit? Is it me? Is it him? No, it’s the team.” The decision to invest in Slack was a powerful example of Thrive’s belief in the collective wisdom of the team and the importance of individual conviction. Everyone plays a role in the decision-making process, but ultimately, we trust those leading the investment to make the final call.
Even during deal flow, some of the best ideas are contributed from outside the investment team.
In 2021 when we were first discussing Ramp, there were about 10 different players in the space. We were excited about Ramp, not just because of the magical corporate card experience they’d built, but because of their vision to automate finance, which made the market analysis even more challenging to understand.
A vigorous debate ensued. How's this market going to play out? Are there going to be 10 people in this market forever? We are debating this like it’s the first time this has ever happened in the world, and Kareem remembers a slight smile go across Nitin’s face.
Nitin, understanding the market deeply from his previous life as Dean of Harvard Business School says, “In the end it's going to be three companies, and one of them is going to get acquired.”
Lo and behold, a couple of years later, there were three companies in the market: Brex, Ramp, and Divvy, and then Divvy got acquired by Bill. com.
Having that insight in the room adds texture to the traditional investment and quantitative conversation. At many investment firms Nitin wouldn’t even be in the room, but why shouldn’t he be? Why shouldn’t the rest of Thrive? Given the extraordinary talent we have here, we believe the best ideas can come from anywhere.
°F
New York City, NY
Select a value
We value the wisdom of the team and the conviction of the individual.
We debate ideas vigorously yet trust everyone to be their own goalie. We might not always agree, but we always commit as a team once a decision is made. We are one team, one culture––all in it together.
Decision making at Thrive is governed neither by one person nor by general consensus.
At most VC firms, deal flow discussions are limited to members of the Investing team. We, on the other hand, encourage everyone at Thrive to participate in our deal flow calls because we trust each other to bring the right information to the decision table, encourage and challenge one another,, and make what we believe is the right call. We believe that the best ideas may come from anyone at Thrive.
We also trust the conviction of the decider. Once a decision has been made, the entire team commits to following through on it, whether or not we all agree with the rationale leading to the decision. We stand by our decision down the line, whether or not it turns out to be profitable for Thrive, because every decision, win or lose, truly is our decision. This is a team sport for us - we’re in it together, regardless of whether things pan out in our favor.
Below are two examples of how this value manifests in deal flow.
In 2016, we had the opportunity to invest in Slack, which was gaining early traction as a leading workplace communication tool. We now all know the company to be a huge success, but at the time, investing in Slack wasn’t an obvious choice. Although Slack was gaining popularity, the market for workplace collaboration tools was crowded, and there were serious concerns about the price.
Josh led the Slack investment process. He felt confident in Slack’s long-term potential, but as the decision drew closer $40 million at a $3.8B post-money valuation caused him pause.
Although Kareem wasn’t deeply involved in the underwriting process and had never even met Slack’s founder, he saw the potential in the deal from a different perspective. Kareem pushed Josh to trust his conviction. Despite the nerves, Josh ultimately listened to his gut, the deep work the team had done, and Kareem’s encouragement. He pushed forward with the deal.
Slack went on to become one of Thrive’s most significant investments, reinforcing the idea that the best decisions are born from a balance of team insight and individual belief.
As Josh later reflected, “Who gets the credit? Is it me? Is it him? No, it’s the team.” The decision to invest in Slack was a powerful example of Thrive’s belief in the collective wisdom of the team and the importance of individual conviction. Everyone plays a role in the decision-making process, but ultimately, we trust those leading the investment to make the final call.
Even during deal flow, some of the best ideas are contributed from outside the investment team.
In 2021 when we were first discussing Ramp, there were about 10 different players in the space. We were excited about Ramp, not just because of the magical corporate card experience they’d built, but because of their vision to automate finance, which made the market analysis even more challenging to understand.
A vigorous debate ensued. How's this market going to play out? Are there going to be 10 people in this market forever? We are debating this like it’s the first time this has ever happened in the world, and Kareem remembers a slight smile go across Nitin’s face.
Nitin, understanding the market deeply from his previous life as Dean of Harvard Business School says, “In the end it's going to be three companies, and one of them is going to get acquired.”
Lo and behold, a couple of years later, there were three companies in the market: Brex, Ramp, and Divvy, and then Divvy got acquired by Bill. com.
Having that insight in the room adds texture to the traditional investment and quantitative conversation. At many investment firms Nitin wouldn’t even be in the room, but why shouldn’t he be? Why shouldn’t the rest of Thrive? Given the extraordinary talent we have here, we believe the best ideas can come from anywhere.