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Industry Ventures Raises Oversubscribed $850 Million Secondary Fund

March 24, 2021 – SAN FRANCISCO, CA– Industry Ventures, a leading investment firm focused on venture capital, announced today the final closing of Industry Ventures Secondary IX (“the Fund” or “Secondary IX”) at its $850 million hard cap. Consistent with the strategy of prior funds,  Secondary IX will seek exposure to leading later-stage companies through flexible investment structures, including direct secondaries, secondary LP interests and special situations (direct portfolios, tail-end funds, etc.). The new fund brings the firm’s total committed capital under management to $4.5 billion.

Secondary IX is Industry Ventures’ largest fund raised to date and will enable the firm to continue to provide a broad range of liquidity solutions for venture capital investors. As a pioneer in the venture secondary market, the firm has completed over 400 secondary investments in its 20-year history.

“We are immensely grateful for the strong support the Fund received from our limited partners, both new and existing, particularly during this year’s uncertainty,” said Hans Swildens, CEO and Founder of Industry Ventures. “As we continue to see venture-backed companies remain private longer, the secondary venture market is playing an increasingly critical role in providing liquidity to venture capital stakeholders.”

“The closing of our ninth secondary fund is an incredible milestone for our firm,” said Justin Burden, Senior Managing Director. “We have invested across multiple market cycles during our 20-year history, and this new fund enables our team to continue to identify attractive secondary opportunities for our investors.”

The Fund’s investor base includes leading institutions representing public and corporate pension funds, endowments, foundations, financial institutions, and family offices, as well as a sizable commitment from its general partner.

For more information on Industry Ventures and the firm’s secondary investment strategy, click here.


About Industry Ventures LLC

Founded in 2000, Industry Ventures is a leading venture capital platform with over $4.5 billion of committed capital under management. Industry Ventures invests across all stages of the venture capital lifecycle through complementary fund strategies. The firm is headquartered in San Francisco, with offices in Washington, DC, and London. For more information, please visit


Media Contact:
Alex Adam
Industry Ventures