On June 30, 2025, Industry Ventures LLC (“Industry”) completed its US$75 million preferred equity investment in Kensington Indigo SPV L.P. (the “SPV”), a continuation fund, created with Kensington Capital Partners Limited (“Kensington”). The SPV holds investments in venture capital funds in Canada and the US.

Industry is a pioneer in secondary investments and a leading provider of flexible capital solutions for the venture ecosystem with $8 billion in assets under management.

Kensington is a leading independent Canadian investor in alternative assets, with $1.5 billion in assets under management.

Working alongside M&H LLP, McMillan acted as Canadian counsel to Industry on this cross-border investment. Brett Stewart led the team which included Laura Giesbrecht and Stephen Abosi.