San Francisco-based Industry Ventures announced it held a final close on Industry Ventures Secondary IX at its $850 million hard cap. The fund will seek exposure to later-stage companies through flexible investment structures, including direct secondaries, secondary LP interests and special situations (such as direct portfolios and tail-end funds, etc.). The new fund brings the firm’s total committed capital under management to $4.5 billion.
In a prepared release, chief executive and founder Hans Swildens said: “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.”
Source: Firm press release