Industry Ventures, an investment firm that buys stakes in private companies through the secondary market, has raised a $425 million fund.The San Francisco-based firm, whose past investments include popular online services Twitter Inc, Facebook Inc and Pinterest, also closed a $200 million "special opportunities" fund, which it can use to supplement investments from the main fund.Industry Ventures plans to invest the money in a mix of Internet, software, healthcare and cleantech companies over the next two to three years, said founder Hans Swildens.Investing in private companies by acquiring shares from employees and early investors has become increasingly common in recent years, even as some companies have tried to clamp down on trading of their shares in the secondary markets.
Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 2.53% or $1.1819/share to $47.91. In the past year, the shares have traded as low as $22.67 and as high as $54.83. On average, 78228400 shares of FB exchange hands on a given day and today's volume is recorded at 23441828.
Twitter, Inc. (Twitter) is a global platform for public self-expression and conversation in real time. Shares of TWTR traded higher by 4.67% or $1.93/share to $43.30. In the past year, the shares have traded as low as $38.80 and as high as $50.09. On average, 15685300 shares of TWTR exchange hands on a given day and today's volume is recorded at 5392859.
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