Goldman Sachs buys Industry Ventures for up to $965 million

Goldman Sachs is acquiring Industry Ventures for up to $965 million, signaling a shift towards alternative investment strategies. The deal involves $665 million in cash and equity, with an additional $300 million performance-based payout. This acquisition strengthens Goldman's alternatives platform amid a slowdown in traditional venture capital exits. Industry Ventures, managing $7 billion in assets, specializes in secondary markets and buyouts, a growing area as IPOs remain scarce. The acquisition is expected to close in early 2026.