Palo Alto – April 8, 2021 – Cooley advised Industry Ventures, a leading investment firm focused on venture capital, on the final closing of its oversubscribed $850 million secondary fund, Secondary IX. Lawyers John Clendenin, Elizabeth Reese and Mandy Kondo led the Cooley team advising Industry Ventures.

Secondary IX is Industry Ventures' largest fund raised to date and brings the firm's total committed capital under management to $4.5 billion. The fund will enable the firm to continue to provide a broad range of liquidity solutions for venture capital investors and will seek exposure to leading later-stage companies through flexible investment structures, including direct secondaries, secondary LP interests and special situations.

"We are immensely grateful for the strong support the fund received from our limited partners, both new and existing, particularly during this year's uncertainty," Hans Swildens, CEO and founder of Industry Ventures, said in a news release. "As we continue to see venture-backed companies remain private longer, the secondary venture market is playing an increasingly critical role in providing liquidity to venture capital stakeholders."

Founded in 2000, Industry Ventures invests across all stages of the venture capital life cycle through complementary fund strategies. The firm is headquartered in San Francisco, with offices in Washington, DC, and London.

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