Where is Industry Capital located?

Industry Capital is headquartered in Houston, US.

Industry Capital

Private equity

Houston · 9 people tracked

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Investment thesis

Industry Capital pursues purposeful, long-term partnerships across the globe, aligning vision, capital, and execution to build enduring value. Its affiliated entities and portfolio companies manage more than $3.4 billion in discretionary assets, targeting strong performance across its investment platforms. The firm concentrates on real assets across four core sectors: financial services, real estate, energy and infrastructure, and hospitality and leisure. With a global team spanning four continents and over 150 operating employees, Industry Capital collaborates with a broad range of stakeholders including governments to deliver returns while emphasizing positive impact.

Invests inClimate Tech Crypto & Web3 Energy Fintech Impact & Social Good PropTech Travel & Hospitality Africa Asia-Pacific Europe Global Houston Latin America Middle East & North Africa San Francisco United States

Source: firm website, verified Sep 27, 2026.

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Houston, CA, US

Founded

2003

AUM

$3.4B

Tracked investments

Team · 9 people

from the firm's website & curated

Norman Villarina· Founder and Managing Partner· San Francisco, Houstonin

Founder of Industry Capital and its Managing Partner since 2003, he previously co-founded Industry Ventures and served as GP from 1999 to 2003, and earlier managed private and public equity portfolios at Eos Partners and Cassandra-Chase Partners. He holds a BA from UC Berkeley and an MBA from Columbia.

Nitin Saigal· Managing Partner, Co-Founder· New York, New York, United Statesin

Founding Partner and CIO at Kora focused on financial services investments. Previously invested in emerging markets at The Blackstone Group and Bridger Management; born and raised in India.

Doug Wertheimer· Partner· San Francisco

A Partner overseeing operating partnerships and advising on strategic decisions across platforms, he was previously an entrepreneur in media, consumer products and financial services, including roles at Size Technologies and Mark Burnett Productions. He holds an AB from Princeton and a JD from UCLA.

Kingston Wu· CFO and Partner· San Francisco, Houstonin

CFO and COO of Industry Capital since 2007, overseeing firm financials and managing the Proof Positive hospitality platform in California. He previously held accounting roles at the Siegfried Group, Oracle, and KPMG, and holds a BA and MBA from UC Berkeley and is a CPA.

Michael Paranac· Operating Partner· New York Cityin

Operating Partner based in NYC overseeing acquisitions and asset management for ICRP, IC's multifamily platform, and an Investment Committee member. He was previously a Director at A&E Real Estate and VP of investments for Allied Partners, and began his career in derivatives at Morgan Stanley.

Raj Morjaria· Partner· Londonin

An investment partner with 30 years of emerging markets private equity experience, he was a founding partner of Aureos Capital, which spun out of the UK's BII Group. He has operated across LatAM, Africa and Asia and is a CFA Charterholder with a BA in Economics from the University of Essex.

Tong Cui· Partner· Asiain

A partner based in Asia focused on private equity and trade financing in emerging markets across EMEA, APAC and LATAM. He founded Bridgeline Group Ltd., a renewable energy investment firm acquired by Industry Capital in 2024, and holds a master's degree from Imperial College London.

Daniel Jacobs· Director· New York, New York, United Statesin

Founding Partner and Co-CIO at Kora focused on internet investments. Previously invested across Asia at Tree Line Advisors in Hong Kong; raised in California.

Thomas Richards· Director· Houstonin

A Director working with the executive committee on Industry Capital's energy and power platforms, bringing experience as a project developer and energy finance professional. He previously worked at Denham Capital's Endeavor Energy affiliate developing over 650MW of power assets in Sub-Saharan Africa.

Investments · 1 tracked

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Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

VGas LLC

Frequently asked questions

What sectors does Industry Capital focus on?: Industry Capital focuses on Climate Tech, Crypto & Web3, Energy, Fintech, Impact & Social Good, PropTech, Travel & Hospitality.
Where is Industry Capital located?: Industry Capital is headquartered in Houston, US.

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