Goldman Sachs has announced a definitive agreement to acquire Industry Ventures, a leading venture capital platform, in a deal valued at up to $965 million. This strategic acquisition is designed to enhance Goldman’s capabilities in providing investment solutions for technology entrepreneurs, as well as expand its footprint in the secondary and emerging venture markets.
The transaction includes an upfront payment of $665 million in a combination of cash and equity, with an additional earnout potential of up to $300 million contingent on Industry Ventures’ performance through 2030. Both the initial and potential future payments will be made through a mix of cash and Goldman Sachs equity.
As part of the deal, all 45 employees of Industry Ventures will join Goldman Sachs, integrating into the firm’s asset and wealth management division. This move signals Goldman’s commitment to growing its alternative investment platform and capturing a larger share of the rapidly evolving venture capital ecosystem.
Founded in 2000, Industry Ventures specializes in secondary investments, venture capital partnerships, and direct co-investments with a focus on technology-driven companies. Over the past two decades, the San Francisco-based firm has grown into one of the most active players in the venture secondaries market, managing billions in assets across various funds.
Goldman Sachs described the acquisition as a strategic step toward meeting the evolving needs of clients, particularly technology founders and investors seeking liquidity and access to capital throughout the startup lifecycle.
“The addition of Industry Ventures’ platform significantly enhances our ability to support innovation and entrepreneurs from early-stage funding through growth and exit,” said Marc Nachmann, global head of asset and wealth management at Goldman Sachs. “It aligns with our strategy to grow our alternatives business and deepen relationships across the venture capital landscape.”
Industry Ventures founder and CEO Hans Swildens echoed the sentiment, stating that joining Goldman Sachs will provide new opportunities to scale their investment strategies and better serve limited partners, founders, and venture capital firms. “This partnership accelerates our shared vision of building a premier venture capital platform with a global reach,” Swildens said.
The acquisition is subject to customary regulatory approvals and is expected to close in the first half of 2026. Once finalized, Industry Ventures will operate as part of Goldman Sachs Asset and Wealth Management, contributing to the firm’s broader push to expand in alternative investments.
This move is part of a broader trend among major financial institutions seeking exposure to the high-growth tech and private markets. For Goldman Sachs, it underscores a long-term commitment to supporting the innovation economy and delivering differentiated investment solutions across all stages of the venture cycle.
