Overview

• Goldman will pay $665 million in cash and equity with up to $300 million contingent on performance through 2030.
• The transaction is slated to close in the first quarter of 2026, subject to customary approvals.
• All 45 employees of San Francisco–based Industry Ventures are expected to join Goldman upon closing.
• Industry Ventures brings about $7 billion in assets under supervision, more than 1,000 investments, and a reported 18% IRR.
• Goldman frames the deal as expanding client access to fast-growing private companies and liquidity solutions across secondaries and continuation funds.