Today we announce Thrive Eternal, a permanent capital holding company that will be concentrated in a small number of assets that we can own and steward over many decades.

Across Thrive Capital and Thrive Holdings, we are building and investing through a moment of exponential change; backing emerging technologies, the infrastructure that powers them, and the businesses they can transform.

Increasingly, we see a fourth category.

These are assets with qualities that cannot be replicated by technology. Iconic franchises and cultural institutions rooted in tradition, identity, and shared experience. In a world shaped by abundant intelligence where creation scales and distribution fragments, we believe they will matter even more.

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.

Our work at Thrive has always been informed and inspired by a deep appreciation for product, brand, and the ways in which consumers form lasting relationships with the things they love. We have been building towards this for a long time.

Our first partnership is expected to be with the San Francisco Giants - an institution built on more than a century of shared identity and community, and among the most iconic sports franchises in America. We have reached an agreement, subject to league approval, to acquire an ownership stake. We feel privileged by the opportunity to be long-term partners to the Giants.