David Solomon, chief executive officer of Goldman Sachs Group Inc., during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York, US, on Tuesday, Aug. 6, 2024.
Jeenah Moon | Bloomberg | Getty Images
Goldman Sachs has agreed to acquire Industry Ventures, a venture capital firm with $7 billion in assets under supervision, according to a release from the investment bank.
Goldman is paying $665 million in cash and equity, and up to $300 million more based on the firm’s future performance through 2030, the bank said. The deal is expected to close in the first quarter of 2026.
San Francisco-based Industry Ventures has helped pioneer aspects of the American VC market since its founding 25 years ago, according to Goldman.
“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,” Goldman CEO David Solomon said in the release.
This story is developing. Please check back for updates.
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