Thayer Ventures and Derive Ventures Announce the Formation of Thayer Investment Partners (TIP), a New Investment Platform to Drive Value for Industry Partners and Innovators
Thayer Ventures, the leading venture capital firm focused on technology innovation in travel and hospitality, and Derive Ventures, the most active early-stage investment firm dedicated to travel and hospitality, 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 innovative start-up companies.
TIP Brings Together the Most Experienced Team of Dedicated Travel Tech Investors to Drive a New Era of Innovation
Chris Hemmeter, Tyler Carrico and Mike Scott are TIP Managing Partners
San Francisco – Sept. 16, 2024 — Thayer Ventures, the leading venture capital firm focused on technology innovation in travel and hospitality, and Derive Ventures, the most active early-stage investment firm dedicated to travel and hospitality, 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 innovative start-up companies.
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 global investment firm 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.
Chris Hemmeter, Co-Founder and Managing Partner at Thayer Ventures and Managing Partner at TIP, 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 concluded, “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, industry-leading advisors and the entire Thayer portfolio ecosystem.
Mike Scott, Managing Partner at TIP, 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 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.
Lee Pillsbury added, “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.”
About Thayer Ventures
San Francisco-based Thayer Ventures is an early-stage venture capital firm with a strategic focus on technology within the global travel and transportation industry. Thayer prioritizes early stage b2b companies, but selectively looks at seed and later stage deals with selective b2c activity. Currently, Thayer Ventures manages four active investment vehicles with more than $300 million in capital deployed and more than 30 active portfolio companies. The company’s Limited Partners and Strategic Partners include many of the most recognizable names in travel, hospitality and finance.
About Derive Ventures
Derive Ventures, founded in 2022, is an early-stage venture capital firm investing in the advancement of travel, hospitality and real estate. Derive currently has over $45 million of assets under management and targets investments in companies in core travel sectors as well as sectors tangential to travel with innovative business concepts, ideas and technology.
About Thayer Ventures Investment Partners
Thayer Investment Partners (TIP) is an investment firm managing all future Thayer Ventures and Derive Ventures fund strategies. TIP leverages the experience and relationships from previous Thayer and Derive funds to drive superior returns and provide the most impactful level of support to entrepreneurs and industry partners shaping the next generation of the travel industry.
