05:06 PM EDT, 10/13/2025 (MT Newswires) -- Goldman Sachs Group ( GS ) said Monday it agreed to acquire Industry Ventures, a San Francisco-based venture capital firm with $7 billion in assets under supervision, to expand its alternatives business and strengthen its technology investment capabilities.

The company said the deal includes $665 million in cash and equity at closing and up to $300 million in contingent payments through 2030, subject to performance. The transaction is expected to close in Q1 2026, pending regulatory approval.

Industry Ventures will become part of Goldman's External Investing Group, which manages over $450 billion in assets. All 45 Industry Ventures employees will join Goldman Sachs ( GS ), according to a statement.