Industry Ventures LLC, a San Francisco, CA-based secondary market venture capital investment firm, closed two secondary funds totalling $700m.
In details, the firm closed:
– the Industry Ventures Secondary VIII, a $500m secondary fund focused on providing exit alternatives for venture capital investments, and
– the Special Opportunities Fund, a $200m fund which enables the firm to invest in larger transactions in parallel to the main fund.
Backed by government and corporate pension funds, insurance companies, endowments, foundations, the firm’s Managing Directors and high net worth family offices, Secondary VIII is the firm’s largest fund raised to date, and along with the Special Opportunities Fund, it will provide a broad range of investment options to address liquidity needs for venture capital investments.
Led by Hans Swildens, CEO and Founder, Industry Ventures invests directly in venture-backed companies through secondaries and co-investments as well as indirectly through LP interest secondaries and primary commitments to early stage venture funds.
Founded in 2000, the firm manages over $2.7 billion of institutional capital with a track record in making investments in over 175 private venture backed companies and over 215 venture capital partnerships.
It also has an office in Washington, D.C.