Monday, September 16, 2024 Thayer Ventures , a leading venture capital firm focused on innovation in travel and hospitality, and Derive Ventures , a prominent early-stage investor in travel and hospitality, have joined forces to launch Thayer Investment Partners (TIP) . This new platform will leverage the expertise of both firms to drive value for industry partners and invest in cutting-edge start-ups reshaping the travel and hospitality landscape. Key Leadership and Structure The newly formed TIP will be led by Chris Hemmeter from Thayer Ventures and Tyler Carrico and Mike Scott from Derive Ventures, serving as Managing Partners.
The combined platform is set to launch a new investment fund in the coming weeks. Lee Pillsbury , founder of Thayer Lodging Group , continues as Managing Director of Thayer Ventures Funds, ensuring continuity in investment strategy and leadership. A Strategic Vision for the Future of Travel Innovation Speaking about the new venture, Chris Hemmeter , Co-Founder and Managing Partner at TIP, remarked: “This is a pivotal moment for both our portfolio companies and industry partners.
Together, Thayer and Derive will capitalize on the next wave of innovation, particularly in the areas of AI, reimagined booking processes, and solutions for a seamless travel experience.” With Thayer Investment Partners , the two firms are combining their capabilities to deepen their influence in the travel and hospitality sector , supporting innovation and efficiency for travel providers. The goal is to break down operational silos and push the boundaries of technological advancements in the industry.
Expanding Expertise and Investment Success The formation of TIP also marks the return of Tyler Carrico to Thayer Ventures, where he began his investment career six years ago. His co-founder at Derive, Mike Scott , brings valuable experience from KSL Capital Partners . The addition of Derive’s capabilities to Thayer Ventures will expand their reach and impact, helping to advance technology across the travel industry.
Mike Scott , Managing Partner at TIP, stated: “We are thrilled to partner with Thayer Ventures to launch Thayer Investment Partners. Our combined expertise will drive further innovation in the travel sector, supporting the next generation of travel start-ups.” Thayer Ventures’ Legacy of Success Founded in 2009, Thayer Ventures is well-established in the travel tech sector, managing over $300 million across four active investment vehicles.
Their portfolio includes more than 30 innovative companies, with a focus on early-stage B2B technology investments. Their industry-leading advisors and strategic partners, including some of the most recognizable names in travel, hospitality, and finance , provide unparalleled support to entrepreneurs. Derive Ventures was established in 2022, with a mission to bridge the gap between technology and travel.
With over $45 million in assets under management, Derive Ventures has targeted early-stage investments across travel, hospitality, and real estate , supporting entrepreneurs who are shaping the future of these industries. Looking Ahead: Thayer Investment Partners’ Impact on the Travel Industry Thayer Investment Partners (TIP) will manage future fund strategies for both Thayer and Derive Ventures, building on their collective experience to generate superior returns while supporting entrepreneurs driving the next wave of travel industry innovation. With a robust team and a proven record of success, TIP is positioned to transform the travel technology landscape.
Lee Pillsbury , who continues his role at Thayer Ventures, commented: “The new TIP platform represents the next evolution of our vision to transform travel technology into a powerful engine for growth, benefitting hotel owners, brands, and investors across the industry.”.
