Dear Industry Ventures Community,
As Industry Ventures celebrates its 25th anniversary, we take a moment to reflect on a year marked by significant growth, collaboration, and progress across the venture ecosystem. This year was not just about building on our past successes, but also about investing in the firm’s future—strengthening our internal team, deepening strategic partnerships with both LPs and GPs, and leveraging our 25 years of history and experience to invest across our investment platform on behalf of our Limited Partners. Our commitment remains steadfast in empowering founders, investors, and teams to achieve their full potential. We are incredibly grateful for your continued support and partnership. Here’s to shaping the next 25 years together!
Hans Swildens, CEO and Founder
- We believe the US venture capital market is in the early stages of recovery and the
market likely troughed sometime in 2024. - AI will be Major Tailwind for Venture Capital: We believe AI is set to drive growth for
new companies and technologies in the VC space, creating additional investment
opportunities. - AI will be Major Tailwind for Venture Capital: We believe AI is set to drive growth for
new companies and technologies in the VC space, creating additional investment
opportunities. - We believe Industry Ventures has a well-established playbook that puts us in a strong position to capitalize on these trends:
- Early-Stage Funds: Increased focus on investing in AI technology companies, across both the software and hardware sectors.
- Secondary Funds: Emphasis on providing liquidity solutions to VC investors and shareholders.
- Tech Buyout Funds: Supporting late-stage venture-backed companies and vertical software firms to scale and exit.
- Tech Buyout II: Actively deploying Tech Buyout II, a $239M Fund, into the small cap
tech buyout space. - Expanded Portfolio: Completed 4 deals and invested/committed ~$20M in new
transactions in 2024, focusing on transformative solutions in maritime software,
warehouse management, and healthcare IT. - Portfolio Exits: Celebrated 10 exits/partial exits, including Versaterm, Tempo, and
Chartbeat driving $25M in proceeds across the strategy.(1)
Largest Exits Across the Tech Buyout Strategy
Largest Exits are based on 2024 proceeds
*Logos represent the largest investment holdings by NAV within the identified portfolio as of 09/30/2024. Includes both direct and estimated indirect exposure, if applicable. The portfolio companies identified and described herein do not represent all of the portfolio companies purchased, sold or recommended for funds advised by or invested into by Industry Ventures. The reader should not assume that an investment in the portfolio companies identified was or will be profitable. Past performance is not indicative of future results. For a list of all of our portfolio companies and for more information, please visit www.industryventures.com.
Secondary Funds
- Secondary X: Actively deploying Secondary X, a $1.45B Fund, investing in top
companies at a - Expanded Portfolio: Completed 35 deals and invested/committed $568M in
transactions throughout 2024. - Portfolio Exits: Celebrated 170 exits across the Secondary Funds Portfolio, and
drove $255M in proceeds across the strategy.(1)
Largest Exits Across the Secondary Strategy
Largest Exits are based on 2024 proceeds
*Logos represent the largest investment holdings by NAV within the identified portfolio as of 09/30/2024. Includes both direct and estimated indirect exposure, if applicable. The portfolio companies identified and described herein do not represent all of the portfolio companies purchased, sold or recommended for funds advised by or invested into by Industry Ventures. The reader should not assume that an investment in the portfolio companies
identified was or will be profitable. Past performance is not indicative of future results. For a list of all of our
portfolio companies and for more information, please visit www.industryventures.com.
Early-Stage Funds
- Secondary X: Actively deploying Secondary X, a $1.45B Fund, investing in top
companies at a - Expanded Portfolio: Completed 35 deals and invested/committed $568M in
transactions throughout 2024. - Portfolio Exits: Celebrated 170 exits across the Secondary Funds Portfolio, and
drove $255M in proceeds across the strategy.(1)
Largest Exits Across the Ealy-Stage
Largest Exits are based on 2024 proceeds
*Logos represent the largest investment holdings by NAV within the identified portfolio as of 09/30/2024. Includes both direct and estimated indirect exposure, if applicable. The portfolio companies identified and described herein do not represent all of the portfolio companies purchased, sold or recommended for funds advised by or invested into by Industry Ventures. The reader should not assume that an investment in the portfolio companies identified was or will be profitable. Past performance is not indicative of future results. For a list of all of our portfolio companies and for more information, please visit www.industryventures.com.
CruxOCM has secured a USD $17 million Series A funding round led by M12, Microsoft’s Venture Fund. A leader in co-pilot technology for control room operators. This funding brings CruxOCM’s total capital raised to $27 million and will be used to fuel innovation and deliver greater value to its energy industry
clients. Industry Ventures has exposure to CruxOCM through Direct II, L.P. and Partnership Holdings VI, L.P.
CruxOCM has secured a USD $17 million Series A funding round led by M12, Microsoft’s Venture Fund. A leader in co-pilot technology for control room operators. This funding brings CruxOCM’s total capital raised to $27 million and will be used to fuel innovation and deliver greater value to its energy industry
clients. Industry Ventures has exposure to CruxOCM through Direct II, L.P. and Partnership Holdings VI, L.P.
Unlocking Liquidity Webinar
Watch the recap to the “Unlocking Liquidity” webinar that Industry Ventures co-hosted with William Blair.
Webinar Replay
Industry Ventures in The Media
SecLink 2024 Awards Nominee(2) for Top VC Secondaries Buyer and Hans Swildens for SecLink Trailblazer.
