Industry Ventures, which focuses on private technology investments, has held a final closing for its Industry Ventures Secondary X with more than $1.45 billion of new commitments. In addition, the firm closed Industry Ventures Tech Buyout II with over $260 million of new capital commitments across the fund and affiliated entities.
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. The close of Secondary X and Tech Buyout II comes during a time of burgeoning market demand for investor liquidity. The two new funds bring the firm’s total committed capital under management to more than $7 billion.
Secondary X is Industry Ventures’ la