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. UTC
Updated Sep 14, 2021 at 11:01 a.m. UTC

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.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Terra’s LUNA Gains, Then Slides, After Do Kwon's Fork Proposal

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.

2
Breaking Barriers to the Web 3 Creator Economy

The latest innovations in blockchain technology are enabling creators to earn more from their work and achieve an unprecedented level of autonomy.

The latest innovations in blockchain technology are enabling creators to earn more from their work and achieve an unprecedented level of autonomy.

3
How Not to Run a Cryptocurrency Exchange

At Japan's Liquid exchange, recently acquired by FTX, warnings were ignored, breaches unreported and employees berated and cursed at, insiders say.

At Japan's Liquid exchange, recently acquired by FTX, warnings were ignored, breaches unreported and employees berated and cursed at, insiders say.

4
Morgan Stanley Warns NFTs Next to Watch After UST Collapse, Bukele Announces Mega Banks Meeting in El Salvador

The most valuable crypto stories for Monday, May 16, 2022.

The most valuable crypto stories for Monday, May 16, 2022.