Thrive Capital, a venture firm best known for tech investments, is taking a stake in the San Francisco Giants, as founder Joshua Kushner announced Friday. This marks the first bet by the company’s new strategy, Thrive Eternal, which targets long-term investments in franchises and cultural institutions that can’t be replicated by AI.

Thrive Capital’s pivot from high-tech to sports is notable given the firm’s prior focus. The San Francisco Giants, a Major League Baseball team, represent a shift toward valuing traditional sports businesses in an era dominated by AI innovations.

The move signals a broader trend of venture capital firms exploring non-tech sectors, including sports. Thrive Eternal’s focus on long-term, replicable-free investments suggests a strategic expansion beyond traditional tech markets.

Venture capital’s entry into sports could impact team valuations and ownership structures, though specifics remain undisclosed.