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VC acquisition. Is this the start of a trend……..
$GS ( ▼ 0.57% ) announced the acquisition of Industry Ventures, which has $7B in AUM.
$665m in cash and equity with potentially up to $300m more based on performance through 20230.
Is this a trend we should expect going forward? More banks and large financial institutions gobbling up VC firms? Is someone going to start buying all the smaller VC’s that have deep domain expertise?
My take is this is a smart move by $GS ( ▼ 0.57% ). You get a known brand with a good track record that has made more than 1,000 investments in startups. This gives the firm a good eye into whats coming down the pipe for potential IPOs, founders who will have wealth for the wealth management arm and dozens of other cross selling opportunities.
Whose next?…..
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