This study investigates the role of University–Industry Collaboration (UIC) in enabling cross-industry knowledge sharing, focusing on the implications of structural social capital within these collaborations. Through a multiple case study involving three distinct UIC structures, we explore how the nature of these collaborations, whether research-focused or networking-focused, influences cross-industry knowledge sharing. Our findings reveal that research-focused UIC, characterized by formal and structured interactions, primarily leverages cognitive social capital to abstract and disseminate knowledge across industries. Conversely, networking-focused UIC, which operates through informal and less-structured channels, relies mainly on relational social capital to foster direct, trust-based knowledge sharing between industries. We identify key enablers and distinctions in these UIC structures, illustrating how they shape cross-industry knowledge sharing. Specifically, we propose a conceptual model, highlighting the mediating role of social capital dimensions and the moderating effects of interest and funding. This model offers new insights into the relationship between structural social capital and cross-industry knowledge sharing in UIC. From a managerial perspective, our study suggests that whether firms engaged in UIC can leverage UIC structures for cross-industry knowledge sharing largely comes down to their own strategical development and management of social capital. From a policy perspective, our study suggests that augmenting already existing policy toward cross-regional knowledge sharing by considering aspects of networking-focused UIC and cross-industrial knowledge sharing, could leverage gains from UIC.