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Inside the Revival of Venture Capital Liquidity with an Industry Pioneer

Oct 6, 2026 · 32m

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As liquidity in venture capital declines, the secondary market is increasingly important for investors and companies, says Hans Swildens, partner in Goldman Sachs Asset & Wealth Management, on Goldman Sachs Exchanges: Great Investors. Swildens explains why companies are staying private longer and how artificial intelligence is creating opportunities as well as headwinds for portfolios. In this conversation with Michael Brandmeyer, global head and chief investment officer of the External Investing Group within Goldman Sachs Asset Management, Swildens also discusses the strategic rationale behind agreeing to sell his firm, Industry Ventures, to Goldman Sachs in January 2026. This episode was…