Former Disney CEO Bob Iger is returning to the venture capital firm he worked at briefly the last time he exited the entertainment giant.
Iger joins Thrive Capital, the New York-based venture capital firm founded by Joshua Kushner. Kushner announced Iger’s return on Thursday, writing that “Bob leads boldly and convincingly because he knows what he’s building and why. He rejoins Thrive at a time when this kind of leadership is even more important.”
He added: “We are experiencing the most important technological transformation of our lives, as artificial intelligence will democratize access to intelligence in the same way that the Internet has democratized access to information,” and that Iger’s experience with both technology and creativity will be pivotal in this new world.
Iger was in New York earlier this week, where he attended the world premiere of his film The devil wears prada 2.
Thrive, which announced $10 billion for a new fund earlier this year, has backed companies such as OpenAI, Spotify and A24. In fact, it was through Thrive where Iger first connected with OpenAI CEO Sam Altman, one source says. That meeting eventually led to the Disney-OpenAI deal last year, which was dissolved after OpenAI exited the generative video business last month.
Iger previously joined Thrive in September of 2022 as a venture partner and mentor to some of the CEOs in its portfolio. He returned to Disney in November of that year, and acquired a small stake in the company the following year.
This time, he is said to be joining Thrive as a consultant. Kushner’s wife, Karlie Kloss, has also made her own investments in media through her holding company, Bedford Media.
During his journey outside of Disney, Iger also invested in companies like Genies, Funko, and GoPuff. He and his wife Willow Bay also acquired Angel City Football Club, a soccer team in the NWSL.
