Goldman Sachs in its $965 million acquisition of Industry Ventures

On October 13, 2025, The Goldman Sachs Group, Inc. (NYSE: GS) announced that it entered into an agreement to acquire Industry Ventures, a leading ventures capital platform with $7 billion of assets under supervision (AUS).  Industry Ventures will sit inside Goldman Sachs’ external manager platform, the External Investing Group (XIG), which has over $450 billion in AUS across traditional and alternative strategies, and further diversifies the firm’s $540 billion alternatives investment platform.  The total transaction consideration is up to $965 million, with $665 million in cash and equity payable at closing and additional contingent consideration of up to $300 million payable in cash and equity based on Industry Ventures’ future performance through 2030.

Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Goldman Sachs.