Petershill Cashes Out of a Longtime Investment
Petershill Partners, managed by Goldman’s asset management arm, first acquired its stake in Industry Ventures in 2019 on behalf of fund investors. While Petershill did not reveal the exact percentage it owned, the firm confirmed it will receive approximately $163.9 million in cash at closing, with an additional $72.7 million in potential contingent consideration depending on future milestones.
Legal counsel for Petershill was not disclosed. Wachtell Lipton Rosen & Katz and Weil Gotshal & Manges LLP are advising Goldman Sachs, while Dechert LLP and Cooley LLP are guiding Industry Ventures through the acquisition.
A Market “At a Pivotal Inflection Point”
Hans Swildens, founder and CEO of Industry Ventures, described the partnership as a milestone moment for venture finance.
“The venture capital market is at a pivotal inflection point as technology and artificial intelligence reshape the world,” Swildens said. “By combining the global resources of Goldman Sachs with our venture expertise, we can better serve entrepreneurs, private technology companies, and fund managers navigating this new era.”
