Former Disney CEO Robert Iger is joining Thrive Capital, a venture capital firm founded by Joshua Kushner, as a venture partner, a role that will see him mentor startup founders and seek out new investment opportunities.
He stepped down as chief executive of Disney in 2020 and was replaced by Bob Chapek, the entertainment giant’s president of parks, experiences and products.
Iger’s new professional venture was first reported by the the wall street journal tuesday.
While Iger won’t work full-time at Thrive Capital, “the idea is for him to be involved in everything we do,” Kushner – who is the brother of former President Donald Trump’s son-in-law Jared Kushner – say it WSJ in an interview.
Thrive Capital, an investment firm that builds and invests in technology companies, has backed some of Silicon Valley’s most prominent start-ups, including Instagram, Spotify and payment company Stripe.
In February, the company raised $3 billion for two funds, even as tech stocks cooled in a selloff.
Kushner said he first approached Iger with a proposal to join Thrive Capital when he stepped down as chairman of Disney’s board of directors last year.
Since leaving Disney, Iger has invested in various start-ups, including Australian design company Canva, delivery service Gopuff and metaverse company Genies, where he also sits on the board.
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