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Goldman Sachs will acquire San Francisco-based Industry Ventures, a venture capital firm with $7 billion under supervision, for $665 million in cash and equity, plus up to $300 million tied to performance through 2030. Aimed at strengthening Goldman’s $540 billion alternatives platform, the deal is expected to close in the first quarter of 2026. CEO David Solomon lauded the firm’s VC expertise; founder Hans Swildens said the combination will serve entrepreneurs, private tech companies, limited partners, and fund managers. Industry Ventures reports an 18% IRR and more than 1,000 investments, and all 45 employees are expected to join Goldman.

Prepared by Christopher Adams and reviewed by editorial team.