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Akkadian hires Industry Ventures founder Gridley as managing director

10 Oct 2013

gridleyVenture capital firm Akkadian Ventures has hired Industry Ventures founder Mike Gridley as a managing director four months after launching a new fund.

At Industry, where he served as managing director, Gridley, pictured, led the firm’s investments in Twitter, Pandora, LifeLock, Jajah, Cloudmark and Lowercase Capital.

Akkadian founder Benjamin Black said, “Mike started doing direct secondaries when there were only a handful of firms dedicated exclusively to venture capital secondaries. Now the secondary market is a multi-billion dollar asset class on its own. As a result, Mike is the ideal person to partner with to take Akkadian Ventures to its next level.

“He brings almost a decade of secondary investment success and has the very rare experience of building an institutional investment firm from the ground up. He will greatly accelerate our development as a firm.

“We share the same philosophy that small, focused funds, small transactions and flexible structures present the best strategy for producing outsized returns in the direct secondary markets.”

In June AltAssets reported that Akkadian launched a $35m fund less than a year after closing its second vehicle on $22m.

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