Industry Ventures, a VC-focused fund of funds and secondaries investment firm, has promoted two of its staff to principal.
The San Francisco-headquartered firm promoted Lindsay Sharma and Ira Simkhovitch, both on its secondaries investment team, according to a statement.
The pair have “demonstrated a strong ability to work with sellers of direct share positions in leading private technology companies as well as limited partnership interests in performing venture capital partnerships”, said Hans Swildens, Industry Ventures’ chief executive and founder.
Sharma joined the firm in 2014 from business and financial software company Intuit, while Simkhovitch joined in the same year from AlpInvest Partners.
The firm is investing its $200 million fund of funds vehicle, Industry Ventures Partnership Holdings IV, which makes primary commitments and early secondaries purchases in smaller VC funds. It is also in market with Industry Ventures Partnership Holdings V which has a $250 million target, according to minutes from the New Hampshire Retirement System’s 23 February independent investment committee meeting.
Industry Ventures’ latest dedicated secondaries fund is its $500 million Industry Ventures Secondary VIII, which closed in 2016. The firm also uses a $200 million Special Opportunities fund which invests in larger deals alongside the main fund.