Thrive Capital has bought a small stake in the San Francisco Giants through a new holding company called Thrive Eternal.
Thrive Eternal is a permanent holding company that will focus on assets with “qualities that cannot be replicated by technology,” founder Josh Kushner wrote in a post on X.
“Thrive Eternal is built on the belief that the most enduring of these assets share common characteristics: they benefit from long-term stewardship, they compound through cultural resonance, and they are enhanced by technology rather than displaced by it,” Kushner wrote.
The vehicle is funded by existing investors in Thrive’s venture capital and growth equity funds.
Details on the transaction were not disclosed, although Axios reported that it is for a sub-10% stake and includes both primary and secondary purchases.
Sixth Street Partners and Arctos, two of the club’s existing institutional owners, have kept their stake in the franchise.The deal remains subject to MLB approval.
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