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The Venture Codex

Industry Ventures

50 Osgood Place Suite 400, San Francisco, CA, 94133, United States

Overview

Founded in 2000, Industry Ventures is a leading venture capital firm that has pioneered new segments of the venture capital market for over 25 years. With over $8 billion in assets under management, the firm invests in private technology spanning early-stage venture capital through post-venture buyout. Industry Ventures employs a flexible investment strategy, encompassing direct investments, secondary transactions, and primary commitments. This full-scale approach, along with the firm's extensive network, is a key differentiator that has contributed to its long-standing track record. Headquartered in San Francisco, with additional offices in Washington DC and London, Industry Ventures continues to be at the forefront of private technology innovation. For more information, please visit www.industryventures.com.

Total investments
152
Lead investments
25
Investments · 12mo
6
Active investors
9

Sector focus

  • Finance
  • Financial Services
  • Incubators
  • Venture Capital
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Investment portfolio

  • Hubbl Technologies

    Participated · Series A · Feb 2026

    Founded in 2022, Hubbl Technologies offers an Intelligence Platform that benchmarks and analyzes Salesforce metadata, automation, and processes to create a comprehensive contextual view for both AI systems and human teams. Trained on data from tens of thousands of organizations, the platform helps enterprises clear technical debt, streamline workflows, and shorten the path from decision to impact. By delivering organizational and process intelligence, Hubbl enables customers to extract greater value from their existing Salesforce investments while mitigating the risk typically associated with large-scale system changes. The company positions its product as critical infrastructure for the emerging "agentic era," where context is essential for AI applications to succeed in production. Hubbl counts more than 4,000 customers, including Coastal, MagMutual, and Slalom, underscoring early market traction. The newly raised capital will accelerate product development and expand go-to-market efforts aimed at enterprises seeking rapid, safe AI adoption within Salesforce.

  • Manifold

    Participated · Series B · Dec 2025

    Manifold offers an AI platform purpose-built for the $2 trillion life-sciences industry, enabling AI agents to operate on multimodal biomedical data across workflows ranging from target identification and biomarker discovery to clinical trial design and real-world evidence generation. The system includes collaboration infrastructure that lets biopharma companies and medical centers share analyses while maintaining data sovereignty. Manifold serves tens of thousands of users at hundreds of organizations worldwide, with customers such as Foundation Medicine and the University of Virginia and strategic collaborations with the Broad Institute, AWS, and Anthropic. As an operator of the Terra platform, it already supports thousands of researchers globally. The company plans to use new capital to expand its Agent OS, deepen cross-organization collaboration features, and scale its data ecosystem, creating compounding network effects for participants. To date, Manifold has raised $40 million in venture funding, underscoring growing investor confidence in its domain-specific AI approach.

  • Feroot

    Participated · Series A · Nov 2025

    Feroot offers an always-on AI-agent platform that automates discovery, analysis, and remediation of security and privacy-compliance issues across websites, payment pages, healthcare pages, iFrames, and other web or mobile applications. The system performs deep discovery and maintains a real-time single source of truth, then uses reasoning and generative AI to verify compliance and detect security gaps in seconds rather than months of manual work. Its technology addresses the growing cost of non-compliance, helping customers avoid litigation, fines, and insurance denials tied to GDPR, HIPAA, CCPA, and dozens of other laws. Feroot’s research has been cited by U.S. lawmakers examining national-security risks in apps such as TikTok and DeepSeek, and CEO Ivan Tsarynny recently testified before the US-China Economic and Security Review Commission. Current customers include Reddit, Forbes, and Xerox. The company has raised $25 million in venture funding to date and plans to use its new capital to grow the engineering team, open additional offices, and expand into the Middle East and Southeast Asia. Co-founders Ivan Tsarynny (CEO) and Vitalily Lim (CTO) lead the firm.

  • Amperesand

    Participated · Series A · Nov 2025

    Amperesand is building an integrated Medium Voltage Solid-State Transformer platform that unifies hardware, software, and intelligent controls into a compact product able to cut electrical footprints by more than 80% while delivering faster, more reliable power to high-density compute environments. The company’s technology targets hyperscale AI data centers, defense installations, and megawatt charging applications, where traditional power infrastructure is facing long lead times and mounting grid-stability challenges. Backed by eight years of SST R&D at Singapore’s Nanyang Technological University, Amperesand was spun out in 2023 and now operates engineering and manufacturing hubs in San Francisco, Reno, and Singapore. Commercial momentum includes contracts to deliver 30 MW of systems in 2026, beginning with a mission-critical charging pilot for PSA International at the Port of Singapore and multiple additional hyperscaler pilots. The MV SST platform is designed for secure, regionally sourced supply chains and incorporates AI-native software controls and advanced cybersecurity features. The company plans to exceed 100 employees globally by the end of 2025 to support scaled production. Fresh capital is earmarked for expanding engineering capacity and manufacturing lines to meet surging global demand for critical power solutions.

  • d-Matrix

    Participated · Series C · Nov 2025

    Founded in 2019, Santa Clara-based d-Matrix develops a full-stack inference platform that integrates Corsair™ in-memory inference accelerators, JetStream™ networking NICs, and the Aviator™ software stack. The architecture delivers up to 10× faster performance, 3× lower cost, and 3–5× better energy efficiency than contemporary GPU systems, enabling customers to serve models as large as 100 B parameters in a single rack and to generate roughly 30 K tokens per second on Llama-70B at 2 ms latency per token. By allowing one data center to handle the workload of ten, the platform directly tackles the rising energy and TCO challenges of AI deployment. d-Matrix is currently scaling global deployments for hyperscale, enterprise, and sovereign customers and has announced an open standards reference architecture, SquadRack™, with partners Arista, Broadcom, and Supermicro. A forthcoming roadmap includes 3-D memory stacking innovations aimed at further boosting throughput and energy efficiency. The company employs more than 250 people across offices in the U.S., Canada, Australia, India, and Serbia and has raised a cumulative $450 million in venture funding to date.

Team

  • Hans Swildens

    CEO & Founder

    LinkedIn
  • Chase Barlow

    Portfolio Analyst

  • Amir Malayery

    Managing Director

    LinkedIn
  • Ira Simkhovitch

    Managing Director

    LinkedIn