Industry Ventures, a venture capital focused investment firm, has boosted it secondaries capability by promoting two investment professionals and hiring two associates.
The San Francisco-headquartered firm promoted Amir Malayery to principal in the firm’s secondaries team, according to a statement. Malayery joined in 2016 as a vice-president and was previously the founder and chief executive of a mobile commerce startup, as well as an investor at growth equity firm Summit Partners.
The firm also hired Joe Coleman and Jason Mendel as associates who will focus on originating and evaluating secondaries.
Lindsay Sharma, who joined the firm to focus on secondaries in 2014, was promoted to managing director of Industry Ventures’ latest fund strategy, according to the statement. She has been focusing on helping the firm’s venture capital funds the firm has relationships with find exits for their portfolio companies.
Industry Ventures’ latest dedicated secondaries vehicles are its $500 million Industry Ventures Secondary VIII fund and its $200 million Industry Ventures Special Opportunities Fund III, according to PEI data.
VC funds accounted for around 6 percent of the $48 billion traded last year, a drop from 9 percent in 2016, according to a report by advisory firm Campbell Lutyens.
The firm manages more than $3.4 billion in institutional capital and invests across secondaries, hybrid fund of funds and directs investments. It was founded in 2000.