By Mucahithan Avcioglu
ISTANBUL (AA) - US-based investment bank Goldman Sachs announced Monday that it will acquire Industry Ventures, a venture capital firm with $7 billion in assets under supervision.
Industry Ventures has made more than 1,000 secondary and primary investments since the company’s founding in 2000, Goldman Sachs said in a statement.
Goldman is paying $665 million in cash and stock, with an additional $300 million possible depending on the firm's future performance until 2030.
The deal is expected to be completed in the first quarter of 2026.
The bank said the addition of Industry Ventures further diversifies the firm’s $540 billion alternatives investment platform, which also invests directly across growth, buyout, real estate, infrastructure, life sciences, sustainability and private credit.
Since its establishment 25 years ago, San Francisco-based Industry Ventures has contributed to the development of certain facets of the American venture capital market, according to Goldman CEO David Solomon.
"Industry Ventures’ trusted relationships and venture capital expertise complement our existing investing franchises and expand opportunities for clients to access the fastest growing companies and sectors in the world," Solomon said.
The bank said it anticipates that all 45 of the venture firm's employees will join Goldman.