{
  "crd_number": 156213,
  "slug": "industry-ventures-san-francisco-ca-156213",
  "primary_business_name": "INDUSTRY VENTURES",
  "legal_name": "XIGINVENT, L.L.C.",
  "dbas": [],
  "city": "San Francisco",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-04-16",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-09-25",
  "carried_forward": false,
  "raum_total": 9063032818.0,
  "raum_discretionary": 9063032818.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 31,
  "advisory_employees": 26,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": null,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 0.0,
      "count": 0
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 0.0,
      "count": 0
    },
    "pooled_investment_vehicles": {
      "raum": 9063032818.0,
      "count": 40
    },
    "corporations_other_businesses": {
      "raum": 0.0,
      "count": 0
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 7,
  "states_registered": [
    "CA",
    "MA",
    "VA"
  ],
  "websites": [
    "https://am.gs.com",
    "https://facebook.com/INDUSTRYVENTURES",
    "https://industryventures.com",
    "https://linkedin.com/company/industry-ventures",
    "https://linkedin.com/showcase/goldman-sachs-assetmanagement",
    "https://x.com/INDUSTRYVC"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/156213",
  "disclosure_items": [
    {
      "item": "11.A(2)",
      "question": "In the past ten years, has the firm or an advisory affiliate been charged with a felony?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.D(5)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?"
    }
  ],
  "city_as_filed": "SAN FRANCISCO",
  "url": "https://advisorcensus.com/firm/industry-ventures-san-francisco-ca-156213",
  "display_name": "Industry Ventures",
  "summary": "Industry Ventures is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 25, 2026.",
  "citation": "AdvisorCensus. Industry Ventures (CRD 156213): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Industry Ventures compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Industry Ventures reports these compensation arrangements: a percentage of assets under its management; other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Industry Ventures located?",
      "a": "Industry Ventures' principal office is in San Francisco, CA, according to its Form ADV; the October 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Industry Ventures registered with the SEC or a state?",
      "a": "Industry Ventures is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156213."
    },
    {
      "q": "How much does Industry Ventures manage?",
      "a": "Industry Ventures reports $9,063,032,818 in regulatory assets under management in its Form ADV filing dated September 25, 2026 (100% discretionary)."
    },
    {
      "q": "How have Industry Ventures' assets and staff changed since 2021?",
      "a": "In the Form ADV data for Industry Ventures: Regulatory assets under management: $4,439,992,921 in the October 2021 data and $9,063,032,818 in the October 2026 data, up 104%. Total employees: 18 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Industry Ventures serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (40)."
    },
    {
      "q": "Does Industry Ventures report any disciplinary disclosures?",
      "a": "Reports 7 disclosure items on Form ADV Item 11: yes answers to 1 question about criminal matters and 6 questions about regulatory matters (11.A(2), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.D(5)). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/156213"
    },
    {
      "q": "What changed in Industry Ventures' recent Form ADV filings?",
      "a": "In the April 2026 filing data: No longer lists the business name Industry Ventures. Employees performing advisory functions went from 27 to 26. Changed its office addresses in London. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 4439992921.0,
      "total_employees": 18,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 6846262255.0,
      "total_employees": 38,
      "filing_date": "2022-06-24"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 6528082965.0,
      "total_employees": 40,
      "filing_date": "2023-08-29"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 7525003505.0,
      "total_employees": 42,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 8357202474.0,
      "total_employees": 45,
      "filing_date": "2025-05-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 9063032818.0,
      "total_employees": 31,
      "filing_date": "2026-09-25"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "No longer lists the business name Industry Ventures.",
        "Employees performing advisory functions went from 27 to 26.",
        "Changed its office addresses in London.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Added the business name Industry Ventures.",
        "Item 11 disclosure answers changed: 7 yes answers, previously 0 (now yes: 11.A(2), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.D(5)).",
        "Changed its legal name from Industry Ventures, L.L.C. to Xiginvent, L.L.C..",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/industry-ventures-san-francisco-ca-156213.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 40,
      "fewer_than_5": false,
      "raum": 9063032818.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    }
  ],
  "disclosure_line": "Reports 7 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/156213",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}