Overview

• Goldman will pay $665 million in cash and equity upfront, with up to $300 million tied to performance through 2030, with closing expected in the first quarter of 2026.
• The acquisition is intended to strengthen Goldman’s $540 billion alternatives platform by creating direct access to startup deal flow for clients.
• All 45 Industry Ventures employees are expected to join Goldman, preserving the firm’s investing expertise and relationships.
• Industry Ventures oversees about $7 billion, has made more than 1,000 investments, and reports an 18% internal rate of return.
• The move reflects growing emphasis on secondary transactions and buyouts as traditional venture exits have been sluggish, according to TechCrunch’s reporting and prior comments from CEO Hans Swildens.