Thrive Capital was founded by Arjun Sethi, Jonathan Hsu, and Ted Maidenberg in 2018.[1] Its first investment was in Sfox in 2018.[8]
In 2021, Tribe sponsored a special-purpose acquisition company that became a public company on the Nasdaq with $240 million in capital.[6][2][9][10]
In July 2021, Tribe Capital's assets under management were $1.5 billion.[2]
After the 2022 crash in the cryptocurrency market, the company was still optimistic on cryptocurrency companies.[11]
In October 2022, leaked documents showed Tribe Capital's first fund had seen a "nearly fivefold return on investment."[7]
In April 2023, Tribe considered a $250 million bid to restart FTX.[12][13][14]
In May 2023, it was planning on starting a fund in India.[15]
The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies,[11] and its response to the collapse of Silicon Valley Bank in 2023.[16][17][18]
On December 11, 2023, co-founder Arjun Sethi became Tribe's chairman and chief investment officer, and Boris Revsin succeeded him as CEO.[19]