Business

Bob Iger joins venture capital firm Thrive Capital as executive advisor and trend spotter

Before Disney CEO Robert Iger is joining Thrive Capital — a VC firm founded by Joshua Kushner — as a venture partner, a role that will help him mentor startup founders and find new investment opportunities.

He resign as Disney CEO in 2020, and is replaced by Bob Chapekpark president, the entertainment giant’s experience and products.

Iger’s new professional venture first reported by The Wall Street Journal on Tuesday.

While Iger won’t be working full-time at Thrive Capital, “the idea is to get him involved in all the things that we do,” said Kushner, brother of former President Donald Trump’s son-in-law, Jared Kushner. Talk to 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 startups, including Instagram, Spotify and payment company Stripes.

In February, the company raised $3 billion for two funds, even as tech stocks cooled a widespread sell-off.

Kushner said he first approached Iger with an offer to join Thrive Capital when he stepped down as chairman of Disney’s board last year.

Since leaving Disney, Iger has invested in various startups, including in Australia design agency Canva, Gopuff delivery service and metaverse Genies companywhere he also sits on the board of directors.

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