Petershill Partners PLC announced Tuesday that it will sell most of its minority stake in Industry Ventures to Goldman Sachs Group Inc. for up to $236.6 million, as part of Goldman’s sweeping $965 million acquisition of the Silicon Valley venture capital powerhouse.
The high-stakes deal, revealed by Goldman Sachs after U.S. markets closed Monday, underscores Wall Street’s growing appetite for venture capital exposure — particularly as technology and artificial intelligence reshape the global investment landscape.
Goldman Sachs Expands Its Venture Capital Reach
Goldman Sachs will integrate Industry Ventures into its External Investing Group, which supervises more than $450 billion in assets. The acquisition marks a strategic leap for the bank, allowing it to deepen its foothold in venture secondaries and hybrid early-stage investing, two segments thriving as tech companies remain private longer.
“Industry Ventures pioneered venture secondary investing and early-stage hybrid funds — sectors that are rapidly expanding as investors seek new forms of liquidity,” said David Solomon, Goldman Sachs CEO. “This acquisition strengthens our ability to serve technology entrepreneurs and investors alike.”
Goldman Sachs will pay $665 million in cash and equity at closing, plus up to $300 million in contingent payments tied to Industry Ventures’ performance through 2030.
