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Bailey McCann, Opalesque New York:

Industry Ventures, a tech focused investment firm has closed Industry Ventures Secondary X with over $1.45 billion of new commitments. In addition, the firm closed Industry Ventures Tech Buyout II with over $260 million of new capital commitments. The two new funds bring the firm's total committed capital under management to over $7 billion.

Consistent with the strategy of prior funds, Secondary X will seek minority investments in leading later-stage venture-backed companies through flexible investment structures, including direct secondaries, secondary LP investments, continuation funds, and other special situations. Tech Buyout II is a hybrid fund focusing on small software company buyouts and emerging software buyout funds.

Secondary X is Industry Ventures' largest fund raised to-date. Industry Ventures has completed over 600 secondary investments in its 20-year history. These investments include over 400 secondary venture capital fund limited partnership interests and 170 direct secondary company share purchases, enabling exposure to over 5,500 venture capital funded companies. The largest exits to date for the secondary strategy result from investments in Uber, Alibaba, ZipRecruiter, Nubank, LifeLock, Marqeta, Roblox, Trustwave, Twitter, and Upwork.

"Over our 20-year history we have invested across multiple market cycles, and this new fund enables our team to continue to identify and gain exposure to attra......................

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