Goldman Sachs Buys $7 Billion Venture Capital Firm Industry Ventures

Goldman Sachs has agreed to acquire Industry Ventures, a San Francisco–based venture capital firm managing about $7 billion in assets, in a deal valued at $965 million.

The transaction includes $665 million in cash and equity at closing, plus up to $300 million in future performance-based payments through 2030. The deal strengthens Goldman’s foothold in the fast-growing venture capital and secondary investment markets.

All 45 employees of Industry Ventures will join Goldman Sachs’ asset management division. Founder and CEO Hans Swildens and other top executives will become partners at Goldman, ensuring continuity and integration.

Founded in 2000, Industry Ventures is best known for investing in venture secondaries — a strategy that lets investors sell stakes in private companies before public listings. The firm has backed major startups and funds across Silicon Valley.

Goldman CEO David Solomon said the acquisition supports the bank’s plan to expand alternative investments and diversify beyond traditional trading and banking. The firm aims to increase revenue from stable, fee-based businesses.

The deal, expected to close in early 2026, marks Goldman’s latest move to boost its private-market presence amid growing investor demand for technology-driven assets.