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."
Updated Sep 14, 2021 at 11:01 a.m. UTC
![Union Square Ventures' Fred Wilson, left, with Coinbase CEO Brian Armstrong at Consensus 2019.](https://www.coindesk.com/resizer/sTKvfVPNj_-clDuDNXGTMqKwcmU=/567x378/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/YN6D6JH5XVHAHOLLSKDFZ7BT5I.jpg)
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.