Thayer Ventures and Derive Ventures have joined forces to create Thayer Investment Partners, a new investment platform focused on driving innovation in travel technology. This merger brings together Chris Hemmeter from Thayer Ventures, along with Tyler Carrico and Mike Scott from Derive, who will serve as managing partners. The goal of this partnership is to provide a full-service venture capital approach that covers various types of investments in the travel tech sector, from early to late-stage funding and both business-to-business and consumer-focused startups.
Thayer Ventures has been a prominent player in the travel startup investment space, having deployed over $300 million in capital across four active investment vehicles. In contrast, Derive Ventures, founded in 2022, manages more than $45 million in assets. The merger of these two firms will help sustain Thayer’s momentum and drive innovation in travel technology for future generations. The formation of TIP, Thayer Investment Partners, does not affect the management of previous funds launched by Thayer Ventures and Derive Ventures separately, with over 45 startups having received investments from these funds.
The new investment platform aims to offer more than just financial support to startups. According to Hemmeter, they provide flexible support to entrepreneurs throughout their journey, not just during board meetings. The partnerships and connections the platform offers can help startups with business development, sales, and strategy. By consolidating into a larger platform, the team believes they can improve their access to sourcing deals and providing insights and benefits to their financial investors, strategic partners, and entrepreneurs looking for investors that complement their business goals.
Key factors that Thayer Investment Partners considers when evaluating investment opportunities include the management team, the total addressable market, and the company’s potential for growth and future funding milestones. The team is particularly interested in startups that have strong leadership, a significant market opportunity, and the resources and runway to reach their next milestones. The merger with Derive Ventures will help the platform expand its focus on emerging opportunities in AI and cloud-native technologies within the travel industry, positioning them to capitalize on the next big trends in travel apps and technology.
The San Francisco-based Thayer Investment Partners is expected to launch a new investment fund in the coming weeks, further solidifying their commitment to driving innovation in travel technology. The platform’s strategic approach, led by experienced managing partners from Thayer and Derive, aims to offer a unique blend of expertise, connections, and resources to support startups in the travel tech sector. By combining their strengths and resources, the partnership between Thayer Ventures and Derive Ventures sets the stage for continued success in the travel startup investment space, signaling a strong commitment to enduring legacy and driving innovation in the industry for years to come.
