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Industry Ventures closes USD65m hybrid fund of funds

Industry Ventures, an investment firm for venture capital, has closed Industry Ventures Partnership Holdings II and II-A totalling USD65m of institutional capital.

The new fund more than doubles the prior fund’s capital commitments and seeks to invest in venture funds with less than USD250m in committed capital.

Partnership Holdings’ strategy includes primary commitments and early secondary investments into small funds with high multiple potential.

The firm continues to manage separate accounts within its Partnership Holdings strategy, bringing total assets under management for the Partnership Holdings platform to approximately USD100m.

"We are excited to execute on our distinctive fund of funds strategy that has more than doubled in size from our first Partnership Holdings fund. The team’s deep and trusted relationships, expertise with secondary transactions and focus on co-investments differentiates us in the marketplace," says Hans Swildens, managing director and co-founder of Industry Ventures. "Partnership Holdings uniquely positions our firm to work with general partners and their portfolio companies throughout their lifecycle."

Prior Partnership Holdings investments through primary commitments include fund managers such as Costanoa Venture Capital, Foundry Group, IA Ventures, Lowercase Capital, Madrona Group, Rincon Venture Partners, SoftTech VC and True Ventures.

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