Industry Ventures Raises $180 Million For Direct Venture Fund

By Annie Baker ● August 12, 2020
  • Industry Ventures, LLC — a leading investment firm focused on the venture capital market — announced that it closed Industry Ventures Direct II, L.P. with total commitments of $180 million

Industry Ventures, LLC — a leading investment firm focused on the venture capital market — announced that it closed Industry Ventures Direct II, L.P. with total commitments of $180 million. This fund is going to continue the same strategy of making direct investments into early- and mid-stage technology companies alongside 80 seed and early-stage fund managers backed by the firm.

The investment firm had previously invested into more than 100 technology companies directly and through dedicated co-investment funds (SPVs). And 7 of those companies have completed IPOs, including Datadog, Fastly, Guardant Health, Instructure, Lifelock, Uber, and Yeahka. And another 7 of those companies have achieved private valuations of $1 billion (known as unicorns), which include Automattic, Carta, Coupang, Planet, Quizlet, Stripe and Woowa Brothers.

The firm’s investor base includes several leading institutions, representing government and corporate pension funds, endowments, foundations, high net worth family offices, and a sizable commitment from its general partner.

Launched in 2000, Industry Ventures has $3.6 billion under management currently. The firm is based in San Francisco with offices in the Washington, DC area, and London.

KEY QUOTES:

“The strong support from our Limited Partners, particularly during COVID lockdowns, underscores the compelling opportunity to invest in digital transformation, which has accelerated as a result of the global pandemic.”

— Hans Swildens, CEO and Founder of Industry Ventures

“Direct II enables our team to increase our exposure to our managers’ leading investments and support post-seed and A-round financings. In the competitive world of venture capital, Industry Ventures is distinguished by our unique brand of collaborative support over the lifecycle of high-growth tech companies.”

— Roland Reynolds, Senior Managing Director at Industry Ventures