1. Goldman Sachs has agreed to acquire Industry Ventures for $665 million, with potential additional payments tied to performance through 2030.
- The deal underscores the growing importance of secondary markets and buyouts as traditional venture exits remain sluggish.

2. The acquisition is part of Goldman's strategy to bolster its $540 billion alternatives investment platform, identified as a key growth engine.
- Industry Ventures' trusted relationships and venture capital expertise are seen as complementary to Goldman's existing investing franchises.

3. The move reflects the increasing trend among venture funds to seek non-traditional exits amid a prolonged IPO drought, with at least five major venture funds already dedicating staff to this effort.
- Industry Ventures, which has made over 1,000 investments and boasts an internal rate of return of 18%, is seen as a leader in this trend.