Union Square Ventures to Allocate 30% of New $250M Fund to Crypto-Related Investments
Planned investments "will include holding tokens directly as well as equity in early-stage blockchain-related projects."
Jan 26, 2021 at 7:48 p.m. UTCUpdated Aug 19, 2021 at 6:50 a.m. UTC
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Union Square Ventures said it will invest roughly 30% of its freshly minted $250 million 2021 Core Fund in crypto-related investments as it has with other recent funds.
- The venture capital firm, known for bets on Twitter, Tumblr and Coinbase, said in a blog post written by Managing Partner Andy Weissman that planned crypto-related investments "will include holding tokens directly as well as equity in early-stage blockchain-related projects."
- "We believe the opportunity to decentralize systems is still in early stages, seeing adoption tailwinds and with a lot of interesting new activity," Weissman wrote.
- USV said it's also interested in ventures that are finding new ways to broaden access to learning and healthcare.
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