Thrive Capital has closed its newest fund with $700 million

Thrive Capital, a New York-based, stage-agnostic venture fund that focuses primarily on media and internet investments, has closed its fifth fund with $700 million. The seven-year-old outfit is now managing a little less than $1.5 billion altogether.

Thrive closed its fourth fund with $400 million in October 2014, so the new fund is a sizable step up. Then again, Thrive holds stakes in numerous well-regarded (if still private) brands, including the crowdfunding platform Kickstarter, the eyewear retailer Warby Parker, the men’s toiletry retailer Harry’s, the streaming music company Spotify, the computer code repository GitHub, and the fitness class discounter ClassPass.

Thrive was also an investor in the video site Twitch, which sold to Amazon for $1.1 billion in 2014; the photo app Instagram, which sold to Facebook for $1 billion in 2012, and the 3D printing company Makerbot, which sold for $604 million to Stratasys in 2013. (And there are others.)

Thrive was founded by Joshua Kushner, brother of Jared Kushner, who leads the family’s real estate business (started by their father) and is the son-in-law of Donald Trump, as well, reportedly, and one Trump’s closest campaign advisors.

Joshua Kushner is also the cofounder of the New York health insurance startup Oscar Insurance, reportedly valued at $1.5 billion during its most recent fundraise, which closed last year. Thrive is among the company’s many investors.