Industry Ventures closes USD180m direct venture fund

Industry Ventures an investment firm focused on the venture capital market, has held the final closing of Industry Ventures Direct II, with total commitments of USD180 million. 

The Fund will continue the same strategy of making direct investments into early- and mid-stage technology companies alongside 80 seed and early-stage fund managers backed by the firm.

Industry Ventures has previously invested into more than 100 technology companies directly and through dedicated co-investment funds (SPVs). Seven of these companies have completed IPOs, specifically: Datadog, Fastly, Guardant Health, Instructure, Lifelock, Uber and Yeahka. Another seven of these companies have achieved private valuations of USD1 billion or more: Automattic, Carta, Coupang, Planet, Quizlet, Stripe and Woowa Brothers1.

“The strong support from our Limited Partners, particularly during COVID lockdowns, underscores the compelling opportunity to invest in digital transformation, which has accelerated as a result of the global pandemic,” says Hans Swildens, CEO and Founder of Industry Ventures.

Roland Reynolds, Senior Managing Director, adds: “Direct II enables our team to increase our exposure to our managers’ leading investments and support post-seed and A-round financings. In the competitive world of venture capital, Industry Ventures is distinguished by our unique brand of collaborative support over the lifecycle of high-growth tech companies.”

The firm’s investor base includes leading institutions representing government and corporate pension funds, endowments, foundations, high net worth family offices and a sizeable commitment from its general partner.