Industry Ventures
Venture-secondaries pioneer, acquired by Goldman Sachs in 2025.
Secondaries & Continuation CapitalFirmGlobal
Target market
Venture fund LP interests and late-stage direct secondaries
Geography
Global
Overview
Industry Ventures, founded in 2000 in San Francisco, pioneered the venture-capital secondary market, buying LP interests in venture funds and direct positions in venture-backed companies alongside hybrid fund-of-funds strategies. Goldman Sachs announced its acquisition of the roughly $7B AUM firm in October 2025 in a deal worth up to about $965M.
Key facts
- Pioneer of venture secondaries, founded 2000
- Acquired by Goldman Sachs (announced October 2025)
- Estimated the venture secondary market at $120B+ in 2025
- Based in San Francisco