Former Disney CEO Bob Iger joins $10 billion Thrive Capital as venture partner

Former Disney chief executive Bob Iger has taken an advisory role at Thrive Capital, a venture firm that recently raised $10 billion for new investments, signaling a significant new chapter for the long-time media executive.

The move, first reported by the Wall Street Journal, will see Iger work with Thrive’s staff on new investments and mentor founders of companies within the firm’s portfolio. Iger stepped down as Disney's CEO last month after a nearly two-decade tenure that saw the company acquire Pixar, Marvel, and Lucasfilm.

Thrive Capital, founded by former Goldman Sachs banker Joshua Kushner, has a notable track record of backing successful technology and media companies. Its portfolio includes major names such as Instagram, Spotify, OpenAI, and the entertainment company A24, making it a powerful force in the venture landscape.

For Iger, the partnership provides a platform to leverage his extensive experience in media and entertainment to influence a new wave of startups. For Thrive, Iger’s involvement brings unparalleled industry expertise and a network that could prove invaluable in sourcing and nurturing deals, particularly in the competitive media technology sector.

Iger's transition into venture capital has been a subject of speculation in Hollywood. This move to an advisory role at Thrive Capital marks his most significant post-Disney commitment, placing him at the heart of a firm with substantial capital to deploy. The firm's recent $10 billion fundraising positions it to make significant new bets in a variety of sectors.

Thrive Capital was founded by Joshua Kushner, the younger brother of Jared Kushner, former President Trump's son-in-law. The firm has established itself as a key player in the venture world, with a focus on software, internet, and media companies. Iger's role is expected to focus on mentoring portfolio company founders and advising on investment strategy, particularly in his areas of expertise. His continued presence on the Disney board through December provides a bridge from his past role to his new advisory capacity.

This article is for informational purposes only and does not constitute investment advice.