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Industry Capital
Industry Capital is a real assets private equity firm that builds purposeful partnerships and real asset businesses globally. Its affiliated entities and...
Industry Capital
Industry Capital is a real assets private equity firm that builds purposeful partnerships and real asset businesses globally. Its affiliated entities and portfolio companies manage more than $3.4 billion in discretionary assets across investment platforms. The firm is an active, hands-on investor with teams targeting long-term asset-based platforms in the US and EMEA, and maintains corporate offices in Houston, San Francisco, and London.
General information
Firm type
Generalist
Year founded
2003
Location
Region
North America
Country
United States
City
Houston
Corporate office
Houston, TX, United States
Principals
Norman Villarina
Founder and Managing Partner
Doug Wertheimer
Partner
Kingston Wu
CFO and Partner
Chase Robertson
Principal – Houston
Michael Paranac
Operating Partner – NYC
Raj Morjaria
Partner – London
Thomas Richards
Director – Houston
Tong Cui
Partner – Beijing
Sector focus
Frequently asked questions
How does Industry Capital structure its investments?
The firm uses separately managed accounts and direct co-investment vehicles rather than traditional blind-pool funds. This structure gives capital partners co-decision rights and asset-level transparency not available in commingled fund formats. The firm does not publicly list a flagship fund series.
What asset classes does Industry Capital target?
The platform spans real estate, infrastructure, energy transition, and private credit. Real estate exposure centers on multifamily, senior housing, and mixed-use in supply-constrained US markets. Infrastructure investments lean into midstream energy, transportation, and digital infrastructure with regulatory or physical barriers to entry. Private credit is deployed as structured debt and preferred equity against hard assets.
Is Industry Capital involved in energy transition or just traditional energy infrastructure?
The firm's infrastructure mandate includes energy transition themes, reflecting broader industry shifts from pure-play hydrocarbons toward decarbonization assets. Midstream energy remains a core competency given the Houston base, but the platform's stated focus extends to areas where legacy energy infrastructure intersects with electrification, renewables, and related transition assets.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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