A24 is owned by its founders and its investors; the company itself operates as an independent film production and distribution studio. The core founders are Daniel Katz, David Fenkel, and John Hodges, who started A24 in 2012, and they retain leadership and ownership involvement as part of the privately held company. In 2024, Thrive Capital led a significant investment round into A24, valuing the company at about $3.5 billion, which indicates a substantial minority stake by Thrive alongside existing investors. Other sources note that A24 is privately held and operates with backing from multiple investors, rather than being owned by a single external parent company.