Goldman Sachs to Acquire Venture Capital Firm Industry Ventures for Up to $965 Million
Goldman Sachs Group Inc. announced today it has reached an agreement to acquire Industry Ventures, a venture capital firm with $7 billion in assets under supervision, in a deal valued at up to $965 million.
The acquisition will see Goldman Sachs pay $665 million in cash and equity upfront, with the potential for an additional $300 million based on Industry Ventures’ performance through 2030. The deal, expected to close in the first quarter of 2026, is aimed at strengthening Goldman’s $540 billion alternatives investment platform, a key area of growth for the bank. This move signals a continued trend of traditional financial institutions expanding their presence in the venture capital space to tap into high-growth potential.
Founded 25 years ago and based in San Francisco, Industry Ventures has invested in over 1,000 companies, achieving an internal rate of return of 18% annually. “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,” said Goldman Sachs CEO David Solomon in a released statement. Hans Swildens, founder and CEO of Industry Ventures, added, “By combining the global resources of Goldman Sachs with the venture capital expertise of Industry Ventures, we are uniquely positioned to serve the increasingly complex needs of entrepreneurs, private technology companies, limited partners, and venture fund managers.” You can learn more about Goldman Sachs’ alternative investments on their website.
All 45 employees of Industry Ventures are expected to join Goldman Sachs following the completion of the acquisition. Officials stated the firm anticipates a smooth integration and continued growth within the Goldman Sachs framework, further solidifying its position in the competitive venture capital market, as reported by Reuters.
