Goldman Sachs Buys Industry Ventures for $665M

[ed]

Goldman Sachs is acquiring Industry Ventures, a San Francisco VC firm with $7B in assets, in a $665M deal (plus up to $300M tied to performance). All 45 employees will join Goldman when the deal closes in early 2026.

The move comes as venture firms pivot to secondary deals and buyouts amid a slow IPO market. Industry Ventures has stakes in 700+ venture firms, 1,000+ investments, and reports an 18% IRR.

Goldman says the deal will strengthen its $540B alternatives platform and broaden client access to high-growth tech companies.

[kelson10]

Goldman’s acquisition signals continued confidence in venture-backed tech despite market uncertainty.

[Nahid10]

A $665M deal reinforces Goldman’s long-term strategy of diversifying into growth-stage investments.