"This acquisition is the first of its kind and signals the increasing importance of VC in propelling the growth of Wall Street banks,"
"Acquisitions of this scale are difficult to replicate given Goldman and Industry's prominence, though we will likely see heightened investment in alternative strategies across banks after this news."
"one of the most established players in VC secondaries and hybrid funds, so this gives Goldman a high-quality on-ramp into private markets-both"
Venture capital firms are unusual acquisition targets due to long, malleable time horizons and a commitment to high-risk investing with substantial failure likelihood. Acquisitions of VC firms are exceptionally rare, with only scattered examples. Goldman Sachs announced plans to acquire Industry Ventures, a firm with about $7 billion in assets under management, for $665 million in cash and equity and up to $300 million in performance-based payments through 2030. Industry Ventures is primarily known as a pioneer in the secondaries market, and the deal gives Goldman a direct entry into private markets and secondaries exposure.
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