Industry Ventures, a San Francisco, CA-based investment firm focused on private technology investments, raised over $1.7 Billion in two new funds.
The firm held the final closing of:
- Industry Ventures Secondary X with over $1.45 billion of new commitments, and
- Industry Ventures Tech Buyout II with over $260 million of new capital commitments across the Fund and affiliated entities.
The Funds’ investor bases include leading institutions representing public and corporate pension funds, endowments, charitable foundations, financial institutions, health delivery networks and family offices, as well as sizable commitments from the general partners.
Led by Justin Burden, Secondary X will seek minority investments in leading later-stage venture-backed companies through flexible investment structures, including direct secondaries, secondary LP investments, continuation funds, and other special situations.
Led by Lindsay Sharma, Tech Buyout II is a hybrid fund focusing on small software company buyouts and emerging software buyout funds.
As a pioneer in the venture secondary market, Industry Ventures has completed over 600 secondary investments in its 20-year history. These investments include over 400 secondary venture capital fund limited partnership interests and 170 direct secondary company share purchases, enabling exposure to over 5,500 venture capital funded companies. The largest exits to date for the secondary strategy result from investments in Uber, Alibaba, ZipRecruiter, Nubank, LifeLock, Marqeta, Roblox, Trustwave, Twitter, and Upwork.
The Tech Buyout Fund invests directly and indirectly in private equity buyouts of venture-backed software companies and special situations. In addition, it invests a minority of its capital in leading small-cap technology buyout managers through both primary and secondary LP commitments. Since starting this strategy five years ago, Industry Ventures has invested in 14 direct software buyouts and over 14 emerging buyout funds. Tech Buyout Fund I has already had four exits to-date from the portfolio, including LINQ, AutoQuotes, Liquid Frameworks and Cloud 9 Software.
Founded in 2000 by Hans Swildens, CEO, Industry Ventures is a venture capital platform with over $7 billion of committed capital under management.
FinSMEs
29/09/2023