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Laxman Pai, Opalesque Asia: San Francisco, CA-based venture capital firm Industry Ventures closed Industry Ventures Direct II, at $180m.
"The Fund will continue the same strategy of making direct investments into early- and mid-stage technology companies alongside 80 seed and early-stage fund managers backed by the firm," said a press release from the venture capital platform with $3.6 billion under management.
According to the release, Industry Ventures has previously invested in more than 100 technology companies directly and through dedicated co-investment funds (SPVs). Seven of these companies have completed IPOs, specifically: Datadog, Fastly, Guardant Health, Instructure, Lifelock, Uber, and Yeahka. Another seven of these companies have achieved private valuations of $1 billion or more: Automattic, Carta, Coupang, Planet, Quizlet, Stripe and Woowa Brothers.
"The strong support from our Limited Partners, particularly during COVID lockdowns, underscores the compelling opportunity to invest in digital transformation, which has accelerated as a result of the global pandemic," said Hans Swildens, CEO and Founder of Industry Ventures.
Roland Reynolds, Senior Managing Director, added, "Direct II enables our team to increase our exposure to our managers' leading investments and support post-seed and A-round financings. In the competitive world of venture capital, Industry Ventures is distinguished by our unique brand of collaborative support over the lifecycl...................... To view our full article Click here
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