San Francisco-based Industry Ventures has raised $170 million for its latest fund of funds, Industry Ventures Partnership Holdings III. The fund will focus on primary commitments and early secondary purchases in smaller venture capital funds as well as direct investments alongside its managers.
SAN FRANCISCO, CA–(Marketwired – Sep 30, 2014) – Industry Ventures LLC, a leading investment firm for venture capital, today announced the closing of Industry Ventures Partnership Holdings III, L.P. an oversubscribed hybrid fund of funds with a total of $170 million of institutional capital. The Fund targets primary commitments and early secondary purchases in smaller venture capital funds as well as direct investments alongside its managers. The new fund brings the firm’s total capital under management to over $2 billion.
In addition, Industry Ventures recently was cited as the highest ranked US fund of funds manager for 2014 by Preqin, the alternative assets industry’s leading source of data and intelligence. The 2014 Preqin Private Equity Performance Monitor assessed buyout, venture and funds of funds managers from around the globe and determined the most consistent performing firms.
With more than a seven-year track record identifying and investing in outperforming small fund managers, Industry Ventures Partnership Holdings funds provide institutional investors with a focused and diversified opportunity to invest in early-stage capital efficient businesses. In addition to making primary commitments in leading seed and early stage funds, the Partnership Holdings team works with General Partners as a preferred partner for LP interest secondaries, as well as direct co-investments in high-performing mid and later stage companies. Prior Partnership Holdings funds have helped finance iconic startups such as Twitter, Uber and Zynga.