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Industry Ventures Closes Partnership Holdings III Fund with $170 Million for LP and Direct Investments with Right-Sized Venture Funds

Firm Surpasses $2 Billion in Capital Under Management; Ranked Top US Fund of Funds Manager by Preqin
30 Sep 2014

September 30, 2014 – SAN FRANCISCO, CA– Industry Ventures LLC, a leading investment firm for venture capital, today announced the closing of Industry Ventures Partnership Holdings III, L.P. an oversubscribed hybrid fund of funds with a total of $170 million of institutional capital. The Fund targets primary commitments and early secondary purchases in smaller venture capital funds as well as direct investments alongside its managers. The new fund brings the firm’s total capital under management to over $2 billion.

In addition, Industry Ventures recently was cited as the highest ranked US fund of funds manager for 2014 by Preqin, the alternative assets industry’s leading source of data and intelligence. The 2014 Preqin Private Equity Performance Monitor assessed buyout, venture and funds of funds managers from around the globe and determined the most consistent performing firms.

With more than a seven-year track record identifying and investing in outperforming small fund managers, Industry Ventures Partnership Holdings funds provide institutional investors with a focused and diversified opportunity to invest in early-stage capital efficient businesses. In addition to making primary commitments in leading seed and early stage funds, the Partnership Holdings team works with General Partners as a preferred partner for LP interest secondaries, as well as direct co-investments in high-performing mid and later stage companies. Prior Partnership Holdings funds have helped finance iconic startups such as Twitter, Uber and Zynga.

“The closing of Partnership Holdings III and the $2 billion threshold represent significant milestones for the firm and affirm both our differentiated position in the marketplace and our investors’ ongoing trust in our team and strategy,” said Hans Swildens, CEO and Founder of Industry Ventures. “The Partnership Holdings platform continues to allow us to offer General Partners and their portfolio companies access to liquidity and funding throughout their lifecycle, which is unique in the venture ecosystem, as well as to play a leading role in funding the next generation of technology companies that are fueling economic and business growth in the U.S.”

Prior examples of Partnership Holdings’ primary commitments include leading fund managers such as Altos Ventures, Amplify Partners, Costanoa Venture Capital, Foundry Group, IA Ventures, Jafco Ventures, K9 Ventures, Lowercase Capital, OATV, SoftTech VC, True Ventures, and Upside Partnership among others.

“Industry Ventures uniquely understands the seed venture space. Their perspective and tremendous support were invaluable assets in helping me launch Upside Partnership. I look forward to working with them for many years to come,” said Kent Goldman, Founder of Upside Partnership.

“There isn’t a friendlier, more decisive, or visionary LP in the business today. Period. Industry Ventures has been with us since day one and will always get first look at our projects,” added Christopher Sacca, Managing Director of Lowercase Capital.