Industry Ventures Raises $575M Early-Stage Hybrid Fund


Industry Ventures, a San Francisco, CA-based venture capital firm, closed its sixth hybrid fund focused on seed- and early-stage funds and direct investments, at $575m.

Industry Ventures Partnership Holdings VI, L.P., brings the firm’s total institutional committed capital under management to $5 billion, with $1.4 billion dedicated to backing seed- and early-stage venture managers and their breakout companies.

The Fund’s investor base includes leading institutions representing public and corporate pension funds, endowments, foundations, financial institutions, and family offices, as well as a sizable commitment from its general partner.

Since 2007, the firm’s Partnership Holdings funds have provided patient and long-term capital to emerging and seed-stage venture capital managers through both primary LP commitments and selective early secondary LP commitments. In addition, the firm makes direct investments in breakout growth-stage companies alongside their managers. Since inception, the Partnership Holdings funds have made primary commitments to over 185 small venture capital partnerships, 95 direct investments, and 100 co-investment funds, and purchased over 60 early secondary LP interests in the technology sector.

Commenting on the closing, Hans Swildens, CEO and Founder, Industry Ventures, said: “The additional capital in this fund will allow us to continue building on prior successes such as making commitments to GP’s inaugural funds like 11.2 Capital, Altos Ventures, Amplify Partners, Cowboy Ventures, IA Ventures, Lowercase Capital, Pear Ventures, and dozens of others, as well as co-investing into breakout private technology companies like Uber, Stripe, Datadog, Coupang and more.

The firm is headquartered in San Francisco, with offices in Washington, DC, and London.