Goldman Sachs has been preparing to expand its venture capital arsenal. They intend to accomplish that, in part, by buying Industry Ventures, a move that signals their ambition to pivot and evolve in a changing marketplace. The deal formalization will occur at TechCrunch Disrupt in San Francisco on October 27-29, 2025. Goldman Sachs intends to pay $665 million in cash and equity for Industry Ventures. They would owe up to another $300 million more based on the firm’s performance all the way through 2030.
With this acquisition, Goldman Sachs is strengthening the message that it is serious about venture capital. It’s scheduled to be completed in Q1, 2026. This acquisition is particularly vital. It occurs when venture managers find the political will and muscle memory to pivot in response to market forces and better align their strategies. Industry Ventures currently has a staff of 45 professionals. Once the transaction is completed, all of them will start working for Goldman Sachs.
David Solomon, CEO of Goldman Sachs, put particular focus on the strategic fit of this acquisition.
“Industry Ventures’ trusted relationships and venture capital expertise complement our existing investing franchises and expand opportunities for clients to access the fastest growing companies and sectors in the world,” – David Solomon.
This acquisition aligns with a broader trend where at least five major venture funds have recently hired full-time staff dedicated to exploring non-traditional exits. These exits, encompassing secondary transactions, continuation funds and buyouts, are a sign of an industry undergoing a metamorphosis that broader market forces have forced upon.
Swildens, a key figure in the discussions leading to this agreement, noted that this move is indicative of the current environment:
“All the brand name funds are all staffing and thinking through liquidity structures.”
This announcement underscores the optimistic steps that are being made by leading firms as they work through an increasingly complicated investment environment.
Goldman Sachs leverages its global resources and investment expertise with the venture capital and liquidity providing expertise of Industry Ventures. Working together, this new collaboration will bring deeper expertise to bear supporting entrepreneurs, private tech companies, limited partners, and venture fund managers. Solomon is betting that this merger will further give Goldman Sachs an edge over its competitors.
