Goldman Sachs is acquiring Industry Ventures for up to $965M as alternative VC exits surge
Goldman Sachs is acquiring Industry Ventures, a 25-year-old investment firm with $7 billion in assets under management, for up to $965 million. The deal highlights the increasing significance of secondary markets and buyouts as traditional venture exits remain sluggish. The transaction involves $665 million in cash and up to $300 million in additional payments contingent on future performance. Industry Ventures focuses on secondary investments and buyouts of venture-backed companies. The acquisition reflects the growing demand for alternative investment strategies as the traditional venture capital exit market faces challenges. The deal is expected to bolster Goldman Sachs' presence in the alternative investment space and provide additional resources for its clients seeking exposure to the venture capital ecosystem.
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