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漂流瓶终于彻底拜拜 微信7.0.4新版体验
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[视频]惠普Chromebook x360 14 G1评测:搭载Chrome OS的商务变形本
特斯拉:北京客户可三年免息融资购车并免费租赁车牌
借贷宝:停止催收百名裸条女大学生 未满23岁将不得借贷
京东白条多地频现盗刷 消费者遭催收公司“逼债”
借款野蛮催收行为将被规范 真是几家欢喜几家愁
为规范网贷催收 上海互金协会发行业倡议书
腾讯解释为什么微信没有夜间模式 真相你相信吗?
一张发行8年的微信唱片:只收录了4首歌曲


Industry Ventures raises $700 million to buy secondary shares
工业企业筹集7亿美元购买二手股票

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编辑: 1   作者: Techcrunch   时间: 2018/11/1 4:18:08  

Industry Ventures, one of the largest buyers of secondary shares, has raised about $700 million to purchase more equity from VCs, hedge funds, startup employees and others. About $500 million is for the secondary fund and $200 million is separated into a special opportunities fund, in case Industry Ventures sees more opportunity beyond the initial $500 million.

Industry Ventures, which is also an LP in over 200 venture funds, has $2.7 billion in capital under management right now. The new fund, Industry Ventures Secondary VIII, is the firm's?largest fundraise to date.

Yet Hans Swildens, CEO and founder of Industry Ventures says they still have plenty of capital from existing funds and they aren’t ready to deploy this next fund yet. “We raised the money earlier so we’re prepared in case there is some sort of need for a liquidity provider at scale,” he told TechCrunch.

There has been a big disconnect between buyers and sellers in the secondary market as of late. While there have been plenty of people looking for liquidity, bubble fears have meant that buyers have been unwilling to pay the existing sky-high valuations. And sellers have been reluctant to give up shares at a discount.

“This year has been a year where a lot of the buyers in the secondary market have taken a pause,” said Swildens. “There’s a demand-supply imbalance today” and he estimates that at least 80% of the attempted secondary deals in first quarter didn’t end up getting done.

He believes that a lack of IPOs means that venture investors will face reality and “valuations are going to start to adjust.” Swildens expects that the prices of secondary shares are on their way down.

While Industry Ventures has purchased shares from a range of companies, including Uber and Pinterest, ?the majority are software and internet startups. They like to see at least $15 million in revenue and an annual growth rate above 30?percent?before they invest.

Founded in 2000, Industry Ventures is headquartered in San Francisco and has offices in Washington, D.C.