It’s been almost a decade since Omar Darwazah and Kyle Hendrick launched AAF Management and its first fund of $25 million in 2017. Rather than racing to dramatically increase their assets under management like many funds have in recent years, the partners have intentionally kept their fund sizes small, even as their reputation and returns have grown. Their latest vehicle — a $55 million early-stage hybrid fund, dubbed the Axis Fund, that recently closed — brings the Washington-based venture firm’s total ...

Oct 15, 2025 3:00 PM Eastern Daylight Time RAD Intel Appoints Aaron Vandeford as Director of Investor Relations Share LOS ANGELES--(BUSINESS WIRE)--RAD Intelannounced today that Aaron Vandeford has joined as Director of Investor Relations. In this role, Vandeford will lead and investor relations strategy and execution, strengthening engagement across the company's growing investor community and helping position the company for its next stage of growth. As we scale the business, Aaron's capital-markets exper ...

Core Viewpoint - Goldman Sachs announced an agreement to acquire Industry Ventures to enhance its role in private markets, focusing on high-growth tech investments and liquidity solutions amid a post-IPO slowdown [1][7] Acquisition Details - The acquisition values Industry Ventures at an initial $665 million in cash and equity, with an additional $300 million in contingent payments based on performance through 2030, expected to close in Q1 2026 [2] - All 45 employees of Industry Ventures will be integrated into Goldman Sachs [2] Company Background - Industry Ventures, founded in 2000, manages $7 billion in assets, focusing on secondary investments, co-investments, and seed capital [3] - The firm has executed over 1,000 deals, partnering with over 325 venture funds and holding stakes in approximately 10,000 companies, representing about 20% of the U.S. VC ecosystem [4] Financial Performance - Industry Ventures' portfolio includes notable companies like Airbnb, Alibaba, and Uber, delivering a 2.2x return on capital and an 18% internal rate of return since inception [4] Strategic Implications for Goldman Sachs - The acquisition strengthens Goldman's External Investing Group, which manages over $450 billion, enhancing its capabilities in co-investments and secondary transactions [5] - Goldman has been a limited partner in Industry Ventures' funds for two decades, indicating a long-standing relationship that the acquisition builds upon [5][6] Market Context - The acquisition comes at a time when VC funds are facing prolonged IPO droughts, leading to increased reliance on secondary transactions for liquidity [7][8] - Analysts view the deal as timely, potentially accelerating Goldman's revenue streams in private markets [8]

Goldman Sachs is acquiring Industry Ventures, a venture capital platform managing $7 billion.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.“Industry Ventures pioneered venture secondary investing and early-stage ...

Liberate, an AI startup automating insurance operations, has raised $50 million in a round led by Battery Ventures as it looks to scale its agentic deployments across carriers and agencies globally. The all-equity round values the three-year-old startup at $300 million post-money, with participation from new investor Canapi Ventures and returning backers Redpoint Ventures, Eclipse, and Commerce Ventures. The insurance industry has been navigating a difficult stretch, with rising operational costs, legac ...

Medicare Administrator Turned Health Venture Capitalist Raises $440 Million For New Fund https://t.co/un7lyG7GIb ...

Core Viewpoint - Goldman Sachs has agreed to acquire Industry Ventures, a venture capital firm with $7 billion in assets under supervision, to enhance its alternatives investment platform valued at $540 billion [1][3]. Group 1: Acquisition Details - Goldman Sachs is paying $665 million in cash and equity for the acquisition, with an additional potential payment of up to $300 million based on future performance through 2030 [2]. - The deal is expected to close in the first quarter of 2026 [2]. Group 2: Strategic Rationale - The acquisition aims to bolster Goldman Sachs' investment capabilities by leveraging Industry Ventures' expertise in identifying and investing in startups, thereby creating a pipeline of investments for wealthy clients [3]. - Industry Ventures has a strong track record, having made over 1,000 investments with an internal rate of return of 18% [5]. Group 3: Company Integration - All 45 employees of Industry Ventures are expected to join Goldman Sachs following the acquisition [6]. - The partnership is positioned to meet the complex needs of entrepreneurs, private technology companies, limited partners, and venture fund managers by combining Goldman Sachs' global resources with Industry Ventures' venture capital expertise [5].

Core Insights - Total crypto VC funding reached $8 billion in Q3 2025, driven by policy stability rather than speculation, marking a structural reset in the market [1] - US-based funds accounted for one-third of crypto VC activity in Q3, with regulatory clarity on stablecoins and compliance attracting institutional investors [2] - The Silicon Valley Venture Capitalist Confidence Index saw a significant rebound, indicating a shift from hype to fundamentals as policy becomes the main risk compass [3] Investment Trends - 60% of institutions plan to double their digital-asset exposure within three years, with over half expecting 10-24% of portfolios to be tokenized by 2030 [4] - Tokenized private equity and debt are emerging as primary options for liquidity-seeking investors, despite legal uncertainties surrounding LP-token models [4] - Funds like a16z and Paradigm are utilizing tokenized side vehicles, allowing LPs to trade fund shares on compliant platforms, indicating a shift in how crypto finances itself [5] Regulatory Environment - Regulatory uncertainty previously hindered investment in blockchain finance, but recent approval of a national stablecoin framework and tax incentives has legitimized crypto for institutional investors [6] - Q3 data revealed 275 deals, with two-thirds under $10 million, showcasing a disciplined approach to investment rather than speculative behavior [7] - CeFi and infrastructure sectors absorbed 60% of capital, while GameFi and NFTs accounted for less than 10%, reflecting a maturation of the market [8]

Core Insights - The roundtable discussion at the equity investment forum in Suzhou focused on how mother funds in the Yangtze River Delta can promote high-quality regional integration and development [1][2] - The role of local mother funds is evolving from merely being financial amplifiers to becoming institutional coordinators and organizers of innovative elements [1][3] - The construction of regional innovation systems is entering a new phase, with local technological investments and the layout of major innovation platforms becoming key drivers of national innovation [1][2] Group 1: Regional Innovation Collaboration - The Yangtze River Delta is emerging as both a source of technology and a testing ground for institutional innovation [2] - Participants discussed the challenges faced by the equity investment industry, including fundraising difficulties and limited exit channels, highlighting the need for improved institutional coordination [3][4] - The concept of "reassuring capital" was introduced, emphasizing the importance of long-term investment and innovative exit mechanisms to address current challenges [3][4] Group 2: Mechanisms and Strategies - The discussion highlighted the need for a unified approach to align industrial chains, value chains, and capital chains across administrative boundaries [4][5] - The evolution of return investment requirements reflects the maturation of local state-owned capital, transitioning from a constraint to a driver of industrial attraction and innovation ecosystem development [5][6] - Strategies for optimizing cross-regional fund layouts and return investment mechanisms were discussed, focusing on establishing reusable interests and governance structures [3][4][5] Group 3: Integrated Mother Fund Concept - The idea of a Yangtze River Delta integrated mother fund was proposed, aiming to create a shared institutional framework through unified standards and shared regulations [7][8] - The integrated fund would focus on leveraging regional comparative advantages and optimizing resource allocation across the industrial chain [7][8] - Initial focus areas for this integrated approach could include sectors like semiconductors, robotics, and new energy, utilizing regional strengths for collaborative mechanisms [7][8] Group 4: Future Directions - The natural advantages of the Yangtze River Delta, such as mature industrial chains and open policies, position it well for advancing integrated mother fund initiatives [8][9] - The operational logic of local capital is shifting from project investment to mechanism building and ecosystem promotion, enhancing internal innovation collaboration [8][9] - The success of these initiatives will depend on finding a balance between homogenization and differentiation, as well as establishing clear roles within the collaborative framework [9]

Venture capital firm Andreessen Horowitz (a16z) has pushed back on local media reports suggesting it plans to open an office in India, with a general partner calling the coverage “entirely fake news.” Earlier on Thursday, Indian media outlets reported that a16z was preparing to establish a physical presence in the country by setting up an office in Bengaluru. The reports, which cited unnamed sources, also said the firm was in the process of hiring a local partner. However, Anish Acharya, a Bay Area-based ...