Industry Ventures, LLC , a San Francisco based investment firm pioneering venture capital solutions, has announced the final closing of its debut hybrid fund of funds for technology buyouts, Industry Ventures Tech Buyout, L.P., with total commitments of $125 million.
The newly established fund continues the firm’s successful strategy of investing in leading technology-focused managers and companies. It will target primary commitments to technology buyout funds less than $750 million in size, early secondary purchases of limited partnership interests in those same funds and direct co-investments in technology buyouts focusing on software companies and other venture-backed businesses. The new fund brings the firm’s total institutional committed capital under management to $3.6 billion.
“We have successfully launched multiple new investment strategies in our Firm’s twenty-year history and saw another way to collaborate with venture capital funds and companies to help them generate liquidity via alternative exit solutions. We are grateful for the support and trust from our expanding limited partner base and we look forward to partnering with them as we continue the Firm’s evolution,” said Hans Swildens, CEO and Founder of Industry Ventures, in a statement.
Lindsay Sharma, Managing Director, added that its new fund “is a logical extension of our investment platform and a value-add to both our venture capital fund managers and company management teams. We are excited to continue leveraging our unique position in the market to generate proprietary deal flow and access to leading technology-focused buyout opportunities.”
This fund’s investor base includes leading institutions representing government and corporate pension funds, endowments, foundations, high net worth family offices and a sizable commitment from its general partner.
Industry Ventures has invested in several of today’s largest companies, including Twitter, Facebook, Lifelock and Alibaba Group.