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    Industry Ventures Closes $400 Million Secondary Fund, Exceeds $1B Of Capital

    Robin Wauters

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    Robin Wauters is the European Editor of tech blog The Next Web and lead editor of Virtualization.com. He was a senior staff writer at TechCrunch until his departure in February 2012. Aside from his professional blogging activities, he’s an entrepreneur, event organizer, occasional board adviser and angel investor but most importantly an all-round startup champion. Wauters lives and works in... → Learn More

    Monday, July 11th, 2011
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    VC firm Industry Ventures has closed its Fund VI, a $400 million secondary fund focused on providing liquidity alternatives for venture capital and growth equity investments.

    Additionally, the firm recently closed a $155 million ‘Special Opportunities Fund’, bringing total capital under management to more than $1 billion.

    The new fund, which Industry Ventures says was oversubscribed, will serve to address liquidity needs for employees, investors and founders across the lifecycle of a venture capital investment. Yes, that means helping them cash out prior to an exit event.

    Says Hans Swildens, managing director and founder of Industry Ventures:

    “The broader VC ecosystem has undergone a significant shift as structural changes impacted the ability for sub-$100 million revenue VC-backed companies to access the public markets, while simultaneously there are hundreds of VC funds that are at the end of their 10-year term or extension period.

    These dynamics result in a need for growth companies and their investors to find capital and liquidity under new structures and is precisely the need our fund is fulfilling.”

    Recent Industry Ventures exits include Ancestry.com, Broadsoft, JaJah (acquired by Telefonica), Pure Digital (acquired by Cisco), and Sourcefire.

    Other noteworthy ‘portfolio’ companies include Facebook, Twitter, Pandora, Chegg, Alibaba, BillMeLater, Zend, LoveFilm.com, MindJet, WhitePages.com, Shop.com and Drugstore.com.

    Crunchbase

    Financial-organization: Industry Ventures, L.L.C.
    Website: industryventures.com
    Launch Date: 2000

    Industry Ventures is a leading investment firm that focuses on venture capital and technology growth equity. The firm invests in secondary opportunities, including purchasing direct portfolios, founders interests, tail-end funds, limited partnership interests and other special situations. In addition, the firm has a leading fund of funds that invests in small venture funds with high multiple potential. Founded in 2000, the firm manages over $1 billion of institutional capital and is headquartered in San Francisco with an office in...

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