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.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.