Venture capital firm USV announced the establishment of a new fund worth 900 million dollars

Venture capital firm Union Square Ventures (USV) announced the establishment of a new fund totaling $900 million to support companies that are innovating on the edges of large markets reshaped by technology. USV stated that the previous core fund was $275 million; this expansion aims to lead more rounds and support companies for a longer time in the AI era, as well as invest in areas such as robotics, manufacturing, and energy that require more capital. The number of investments from the new fund will be roughly equivalent to previous ones.

USV founders Fred Wilson and Brad Burnham articulated their early investment thesis to limited partners in 2004, arguing that investments should be made in early companies that leverage the internet infrastructure that was already widespread at the time and add value to widely available core technologies. Based on this, USV made early investments in Twitter, Twilio, Etsy, MongoDB, and Coinbase. This announcement was co-signed by Nick Grossman, Rebecca Kaden, Michael Mignano, and Fred Wilson.

USV stated that the core investment team also includes long-time investors Nick Grossman, Nikhil Raman, and newly joined general partner Michael Mignano (co-founder of Anchor), venture partner Jared Hecht (co-founder of GroupMe and Fundera), and product advisor partner Scott Belsky (co-founder of Behance and former Chief Product Officer of Adobe).