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Industry Ventures Closes $65 Million Hybrid Fund of Funds Investing in Small Venture Funds With High Multiple Potential

Unique Focus on Select Outperforming Managers via Primary and Early Secondary Investments Attracts Institutional Capital
2 Jul 2012

SAN FRANCISCO, CA–(07/02/12)- Industry Ventures LLC, a leading investment firm for venture capital, today announced the closing of Industry Ventures Partnership Holdings II and II-A totaling $65 million of institutional capital. The new fund more than doubles the prior fund’s capital commitments and seeks to invest in venture funds with less than $250 million in committed capital. Partnership Holdings’ unique hybrid strategy includes primary commitments and early secondary investments into leading small funds with high multiple potential.

The firm continues to manage separate accounts within its Partnership Holdings strategy, bringing total assets under management for the Partnership Holdings platform to approximately $100 million.

With more than a five-year track record identifying and investing in outperforming small fund managers, Partnership Holdings provides institutional investors with a focused and diversified opportunity to invest in capital efficient businesses and early stage companies.

“We are excited to execute on our distinctive fund of funds strategy that has more than doubled in size from our first Partnership Holdings fund. The team’s deep and trusted relationships, expertise with secondary transactions and focus on co-investments differentiates us in the marketplace,” said Hans Swildens, Managing Director and Co-Founder of Industry Ventures. “Partnership Holdings uniquely positions our firm to work with General Partners and their portfolio companies throughout their lifecycle.”

“We continue to experience favorable returns with higher IRRs and multiples from select small, early-stage venture funds and are deeply appreciative of the support of our limited partners,” said Roland Reynolds, Managing Director of Industry Ventures.

Prior Partnership Holdings investments through primary commitments include leading fund managers such as Costanoa Venture Capital, Foundry Group, IA Ventures, Lowercase Capital, Madrona Group, Rincon Venture Partners, SoftTech VC and True Ventures.