According to the filing, about $52 million of unsold equity still remains in the offering and a person familiar with the Industry's strategy tells Insider the company is still actively raising capital.
With valuations down and the IPO market still tepid, it's likely that the secondary market will continue to be an important off ramp for holders of private company shares. "Everyone is gonna have to have a secondary strategy," said Ken Sawyer, co-founder of Saints Capital, another major player in the VC secondary market. Despite being an attractive investment opportunity, he said, the market is still relatively underdeveloped. Sawyer estimates that, before this latest fundraise, there was only about $4 billion in dry powder chasing upwards of $60 billion in opportunities in the asset class.
This latest fundraise by Industry, which is backed by Goldman Sachs Asset Management among others, could be a sign of increased interest in the VC secondary market. This comes after IndustrySign up for notifications from Insider! Stay up to date with what you want to know.
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