Deals
Kravis Joins Demi Moore, John Legend in Backing Organic-Food Startup
- Thrive raises about $20 million from convertible-note sale
- Retailer sees itself as cross between Whole Foods and Costco
KKR co-founder Henry Kravis is backing an e-commerce startup that calls itself a cross between Whole Foods and Costco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Thrive Market, an online seller of organic food and natural products, has added prominent Wall Street names to its list of investors, which already includes actress Demi Moore and Grammy Award-winning singer John Legend.
Henry Kravis, co-founder of private equity firm KKR & Co., and the family office of hedge fund titan Paul Tudor Jones have both invested in a convertible note that’s raised about $20 million for Thrive over the last few months, according to the company. Thrive, which finished 2015 with about $50 million in revenue and isn’t yet profitable, said it’s raised $58 million since it was founded in 2013.