Goldman Sachs has agreed to acquire California-based venture capital firm Industry Ventures for an initial $665 million. The proposed cash and equity transaction, scheduled to close in Q1 2026, includes potential additional payments of up to $300 million by 2030, contingent on Industry Ventures’ future performance.
Industry Ventures manages $7 billion in assets, and is one of the largest venture capital firms in the US. Since 2000, the firm has made over 1,000 primary and secondary investments in major technology companies like Airbnb, Alibaba, DoorDash, Facebook, Marqeta, and Uber.
David Solomon, Goldman Sachs’ chairman and CEO, highlights the rationale behind the move, stating: “Industry Ventures’ trusted relationships and venture capital expertise complement our existing investing franchises and expand opportunities for clients to access the fastest growing companies and sectors in the world.”
If the acquisition is approved, Industry Ventures will integrate with Goldman Sachs’ external manager platform, the External Investing Group (XIG), which manages over $450 billion across various investment strategies, including real estate, infrastructure, life sciences, and sustainability.
The deal builds on a long-standing relationship between the two firms. Goldman Sachs Asset Management has invested in Industry Ventures’ funds for more than 20 years and will now take complete ownership of the company.
The move is expected to bring all 45 Industry Ventures staff into Goldman Sachs. Additionally, three senior executives will receive partner positions at Goldman Sachs Asset Management: Hans Swildens, the firm’s founder and CEO, and senior managing directors Justin Burden and Roland Reynolds. Goldman Sachs has not revealed their expected positions.
Source: https://www.fintechfutures.com/
