Thrive Capital said Tuesday that Walt Disney Co.'s former top boss, Robert Iger, will join the investment firm as a venture partner.

Iger will advise on day-to-day initiatives including mentoring startup founders and identifying new investment opportunities, the Wall Street Journal reported.

New York-based Thrive Capital, which builds and invests in Internet, software and technology-enabled companies, raised $3 billion in February and has backed firms including Spotify Technology SA, Robinhood Markets Inc and Stripe Inc, according to WSJ.

Thrive, which managed about $9 billion in assets last year, was founded in 2009 by Joshua Kushner, the brother of former U.S. President Donald Trump's son-in-law Jared Kushner.

Iger, who stepped down in February 2020 after about 15 years at Disney, has since invested in delivery startup Gopuff and metaverse startup Genies.