Venture Capital: Industry Ventures Closes On $1.7B In Commitments For Two Funds

September 27, 2023 | Latest News, News, Venture Capital

Secondary X 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.

Industry Ventures has successfully raised over $1.7 billion in two new funds aimed at assisting venture capital investors in achieving liquidity. The first fund, Industry Ventures Secondary X, has attracted over $1.45 billion in new commitments. The second, Industry Ventures Tech Buyout II, secured over $260 million in new capital commitments.

These funds align with the strategy of prior funds, with Secondary X focusing on minority investments in later-stage venture-backed companies, utilizing various investment structures, while Tech Buyout II is a hybrid fund concentrating on small software company buyouts and emerging software buyout funds.

The successful close of these funds coincides with a growing demand for investor liquidity in the market. Furthermore, Industry Ventures has a strong track record, having completed over 600 secondary investments in its 20-year history, including investments in companies such as Uber, Alibaba, and Twitter.

Secondary X is the largest fund raised by Industry Ventures to date, allowing the firm to offer a wide range of liquidity solutions to venture capital investors.

Tech Buyout II marks Industry Ventures’ second buyout vintage, and it signifies a twofold increase in commitments compared to the previous fund. This fund engages in direct and indirect investments in private equity buyouts of software companies with venture backing and specialized scenarios. Furthermore, it allocates a portion of its capital to invest as a minority stake in prominent small-cap technology buyout managers, utilizing both primary and secondary LP commitments.

Founded in 2000, Industry Ventures is a leading venture capital platform with over $7 billion of committed capital under management.

Related Story:  Top-Bracket VC Firm Dawn Capital Raises $700M For Tech Investing

Photo by Viacheslav Bublyk on Unsplash

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