Goldman Sachs(US:GS) Xin Lang Cai Jing·2025-10-14 00:13Group 1 - Goldman Sachs (GS.US) has agreed to acquire venture capital firm Industry Ventures for up to $965 million, with an initial payment of $665 million in cash and equity, and potential additional payments of up to $300 million based on performance by 2030 [1][2] - Industry Ventures, founded in 2000 and based in San Francisco, manages approximately $7 billion in assets, primarily through secondary market investments, co-investments, and providing capital to external venture funds [1][2] - The acquisition is expected to enhance Goldman Sachs' presence in the venture capital space, which is a key growth area in the U.S. economy, particularly as many companies remain private and benefit from trends in artificial intelligence and infrastructure development [2] Group 2 - Industry Ventures' founder Hans Swildens and two senior colleagues will join Goldman Sachs as partners, with Swildens reporting to Michael Brandmeyer, a senior executive in Goldman’s external investment division [2] - Swildens noted that Industry Ventures has been involved in about 20% of the U.S. venture capital market through approximately 10,000 underlying investment companies and over 325 partner firms, achieving a capital return rate of 2.2 times for investors since its inception [2] - Goldman Sachs' asset and wealth management head, Marc Nachmann, emphasized the stability of investment returns as a key factor for the acquisition, highlighting the challenge of maintaining such performance over 20 years [2]