SAN FRANCISCO, CALIFORNIA—Thayer Ventures and Derive Ventures announced the formation of Thayer Investment Partners (TIP). The new platform will leverage the experience of both firm’s founding members to drive value for industry partners and invest in a new generation of start-up companies related to hospitality. Thayer Ventures’ Chris Hemmeter and Derive’s founders Tyler Carrico and Mike Scott will serve as managing partners for the new platform, which expects to launch a new investment fund in the coming weeks. Lee Pillsbury, founder of Thayer Lodging Group, sold to Brookfield in 2014, and managing director of Thayer Ventures Funds, will continue his role as managing director. Previous funds launched by Thayer Ventures and Derive Ventures, respectively, will continue to be managed as they have been since inception; new funds will be managed under the combined TIP leadership.
Hemmeter said, “This is a transformative moment for Thayer’s portfolio companies, for our industry partners, and for investors. Thayer and Derive are already the leading early-stage investors in travel and hospitality, together we are best positioned to capitalize on the next wave of innovation and leverage an expanded team to deliver maximum value to our industry partners. We are set to tackle a new era of innovation in travel, which includes the transformative development of AI, a radically rethought and reimagined booking funnel, and the need to break down silos that continue to hold back progress toward seamless customer journeys and business efficiencies for travel providers.”
Hemmeter added, “We’re delighted to welcome back Tyler Carrico, who launched his investment career at Thayer Ventures six years ago, and to welcome his co-founder at Derive, Mike Scott, who brings travel investing experience from KSL Capital Partners. By adding Derive’s capabilities to Thayer Ventures, we deepen and expand Thayer’s reach even further through the new TIP platform. We are excited to build out the new platform with a robust team and unmatched record of investment success.”
Founded in 2009, Thayer Ventures invests in early-stage travel and hospitality. The firm has built the preeminent venture platform for entrepreneurs to leverage unequaled counsel from our experienced team, strategic LPs, advisors, and the entire Thayer portfolio ecosystem.
Scott said, “We are thrilled to team up with Thayer Ventures to launch Thayer Investment Partners. The combined platform will bring an unmatched level of investing experience and strategic support to advance innovation in the travel industry. It will also reinforce our differentiated sector-focused approach to producing best-in-class returns and providing the highest level of service to our industry partners.”
Derive Ventures, founded in 2022, is an early-stage venture fund investing in the next generation of hospitality, experiences, and real estate; its mission is to bridge the gap between technology and travel by supporting entrepreneurs shaping the future.
Pillsbury said, “I am happy to continue to serve Thayer Ventures and the industry to help accelerate even further the bounds of innovation for Strategic Partners and entrepreneurial early-stage start-ups alike. The new Thayer Investment Partners platform represents the next evolution of our original vision for transforming travel technology into in an engine of growth and efficiency for hotel owners, brands, and investors across the industry.”
