Industry Ventures Raises Oversubscribed $400 Million Fund of Funds and Direct Investment Funds
Firm Named One of the Top Consistent Performing Fund of Funds Manager by Preqin for 2015
July 19, 2016 – SAN FRANCISCO, CA– Industry Ventures LLC, a leading investment firm for venture capital, today announced the closing of a total of over $400 million in a pair of funds: Industry Ventures Partnership Holdings IV, L.P., a hybrid fund of funds, and Industry Ventures Direct, L.P., the firm’s debut direct co-investment fund. The funds target primary commitments and early secondary purchases in smaller venture capital funds as well as direct co-investments alongside venture capital funds in which Industry has invested. The new funds bring the firm’s total institutional capital under management to over $3 billion, of which $1.1 billion has been raised this year.
In addition, Industry Ventures recently was cited as a top consistent performing fund of funds manager for 2015 by Preqin, the alternative assets industry’s leading source of data and intelligence. The 2015 Preqin Private Equity Performance Monitor assessed 84 firms and 776 funds from around the globe and determined the most consistent performing firms.
“Partnership Holdings IV enables our team to continue our successful strategy of investing with great managers and entrepreneurs,” said Hans Swildens, CEO and Founder of Industry Ventures. “We’re very excited to support, partner and work closely with some of the best seed and early-stage investors in the venture business.”
“The Direct fund was established to further collaborate with our venture fund managers to be a friendly direct co-investor for post-seed and A round financings. It completes our investment platform by enabling our team to provide capital across the lifecycle of high growth tech companies and funds,” added Roland Reynolds, an Industry Ventures Managing Director.
Partnership Holdings IV and Direct I enable the firm to fund new early stage venture capital partnerships and invest in early and mid-stage companies when they need more capital for growth. As a pioneer in the seed fund and emerging manager categories, the firm’s 10-year track record contains investments in over 66 new venture capital partnerships, 12 co-investment funds and 26 direct co-investments. The Funds focus generally on technology investments in the software, internet infrastructure, hardware, digital education, fintech, mobile applications, digital health, and cyber security sectors. The Funds’ investor base includes leading institutions representing government and corporate pension funds, insurance companies, endowments, foundations, high net worth family offices and the firm’s Managing Directors.
For more on the firm’s Partnership Holdings investment strategy, click here.