We had no idea. Really. These dudes tell us nothing. Nobody wants this to be an Arrington-SV Angel style relationship more than us, but they’re not buying it.
As we reported earlier today, Thrive Capital just had a big, 17X exit with GroupMe that is a feather in the cap of the young fund.
Now Fortune is reporting that Thrive Capital has raised a new, $40 million fund, a step up from their first $10 million fund. Aside from GroupMe, Thrive also had an exit when Hot Potato sold to Facebook. OnSwipe, a Thrive company, recently raised $5 million.
Small VCs, like start-ups, would be wise to close their financing now, before macro-economic uncertainties get any worse.