Industry Ventures has held the closing of Industry Ventures Secondary VIII, a USD500 million secondary fund focused on providing exit alternatives for venture capital investments.
Additionally, the firm closed a USD200 million Special Opportunities Fund that enables the firm to invest in larger transactions in parallel to the main fund.
As the largest dedicated liquidity provider for private shares in leading companies and limited partnership interests in venture funds, the firm now has a total of USD2.7 billion of capital under management and solidifies the firm as the leader in the secondary market for providing comprehensive exit alternatives to employees, founders, angel investors, corporate venture capital programs, hedge funds, mutual funds and other non-traditional venture investors.
"We are blessed with an amazing investor base that is highly supportive of our team and investment strategy. The venture capital market continues to thrive through varying economic cycles because of a robust secondary market," says Hans Swildens, CEO and Founder of Industry Ventures. "Leading VC-backed companies face a myriad of liquidity challenges as the IPO market is unpredictable. Company shareholders – founders, employees, angel investors, and corporate venture funds — have turned to our firm over the last fifteen years to provide broad and flexible investment options tailored to each situation."
Secondary VIII is Industry Ventures' largest fund raised to date, and along with the Special Opportunities Fund, it will enable the firm to continue to provide a broad range of investment options to address liquidity needs for venture capital investments. As a pioneer in the VC secondary market, the firm's 15-year track record contains investments in over 175 private venture backed companies and over 215 venture capital partnerships. The firm as acquired over thirty corporate venture capital, hedge fund and mutual fund portfolios. Secondary VIII's investor base includes leading institutions representing government and corporate pension funds, insurance companies, endowments, foundations, the firm's Managing Directors and high net worth family offices.