A: Hey there! Got any interesting news to share?
B: Hmm, not really, why?

A: Goldman Sachs just bought Industry Ventures, remember them? They're the SF-based investment firm with over $7 billion in assets.
B: Oh, I think I do! What's the reason behind it though?

A: Well, the traditional venture exits are sluggish, so they're focusing on secondary markets and buyouts instead. Goldman is paying $665 million, with extra depending on Industry Ventures' performance until 2030.
B: Wow, that's a lot of money! So all the employees from Industry Ventures are joining Goldman too?

A: Yup, that's what they said in their release. They expect it to close by the first quarter of next year. They want to bolster their alternatives investment platform, which is a key growth engine for them.
B: That sounds like a smart move! Industry Ventures has made over 1,000 investments and has an impressive 18% internal rate of return. I wonder what they'll bring to the table for Goldman.

A: Exactly! The CEO of Goldman even said that their venture capital expertise expands opportunities for clients and helps them serve entrepreneurs better. It seems like Industry Ventures has a lot to offer!