# Industry Ventures

Industry Ventures is a Venture Capital based in San Francisco, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2000
- **Assets under management:** $8B+
- **Website:** industryventures.com
- **LinkedIn:** https://www.linkedin.com/company/industry-ventures

## Regulatory record

- **CRD number:** 156213
- **SEC file number:** 801-74128
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/156213

## About

Industry Ventures is an SEC-registered investment adviser in San Francisco, CA, registered since 2012. The firm manages approximately $9.1 billion in regulatory assets. It has 31 employees and 26 investment advisers.

## Sectors

- Venture Capital
- Buyout
- Secondaries & Special Situations
- Enterprise Software
- AI/ML
- Digital Health
- FinTech
- ClimateTech

## Offices

- Washington, DC, United States
- London, United Kingdom

## People

- Hans Swildens — Founder & CEO
- Roland Reynolds — Senior Managing Director
- Justin Burden — Senior Managing Director

## Questions

### Who runs investment decisions at Industry Ventures?

Hans Swildens, the founder, serves as CEO and sets the firm's overall investment strategy. He is supported by a partnership group that includes Senior Managing Directors Roland Reynolds and Justin Burden, who lead the secondary and direct investment practices respectively. Investment committees review transactions within each fund family, with principals who have sector-specific sourcing expertise across enterprise software, AI, fintech, and digital health.

### How does Industry Ventures source proprietary deal flow?

The firm sources through long-standing relationships with general partners who need liquidity solutions for their limited partners, structuring agents running secondary auctions, and a direct network of founders, early employees, and venture capital firms seeking pre-IPO stock sales. Because Industry Ventures is both a primary LP and a secondary buyer, it gains early visibility into portfolio restructurings and GPs seeking bespoke continuation-vehicle structures.

### What investment stages does Industry Ventures typically target?

The firm covers the full venture lifecycle. LP secondaries span seed through late-stage venture funds. Direct investments target early-stage to pre-IPO companies, with recent vintage vehicles concentrated on Series B through late-stage rounds. Buyout fund secondaries add exposure to mature private equity assets. No single stage dominates — the mix depends on fund family and vintage-year pricing.

### How is Industry Ventures related to its portfolio GPs and their limited partners?

Industry Ventures functions as a liquidity provider, not a replacement manager. The firm purchases LP interests that are already funded, stepping into the seller's remaining capital-call obligations and distribution rights. It does not lead buyouts of management companies. In direct secondary deals, it buys stock from employees and early investors through structured tender processes approved by the issuing company's board.

### What is Industry Ventures' known posture on co-investments alongside external GPs?

Industry Ventures selectively co-invests alongside its primary relationships when a GP offers pari-passu terms. The direct fund family occasionally participates in GP-led syndicates for growth-stage rounds. Co-investment is not the dominant model — the firm prefers secondary pricing where it can set terms rather than accepting a lead investor's valuation.

## Related profiles

- [Industry Capital](https://altss.com/profile/industry-capital)
- [Indus Valley Capital](https://altss.com/profile/indus-valley-capital)

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Last updated: 2026-07-08T23:22:48.597Z

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