PANews October 9 news: Venture capital firm Union Square Ventures (USV) announced it has raised a $900 million new fund, dedicated to supporting startups building at the forefront of large markets undergoing technological transformation. USV said its previous core fund was $275 million; this expanded scale is intended to lead more rounds in the AI era, support companies for longer periods, and invest in areas such as robotics, manufacturing, and energy that require more capital.
PANews October 9 news: Venture capital firm Union Square Ventures (USV) announced it has raised a new $900 million fund, dedicated to supporting startups building at the frontier of large markets undergoing technological transformation. USV said its previous core fund was $275 million; the increased size is intended to lead more rounds and support companies for longer in the AI era, and to invest in areas such as robotics, manufacturing, and energy that require more capital.
In addition, the team has welcomed several new members, including General Partner (GP) Michael Mignano (co-founder of Anchor), Venture Partner Jared Hecht (co-founder of GroupMe and Fundera), and Product Advisory Partner Scott Belsky (co-founder of Behance, former Chief Product Officer at Adobe). These new members will join USV veteran investors Fred Wilson, Rebecca Kaden, Nick Grossman, and Nikhil Raman to form the core investment team for the future; at the same time, Andy Weissman, Albert Wenger, John Buttrick, and Brad Burnham will continue to support USV and its portfolio companies.