New York based venture capital firm Union Square Ventures has confirmed that it has raised $428.8 million fresh investment for two new venture funds as it plans to pump capital in new ventures across the world.
According to the SEC filing of the company, the amount will go into parts, one is a core venture-capital fund and another one is an opportunity fund. The company has listed co-founder Fred Wilson, Albert Wenger, Andrew Weissman, Rebecca Kaden, and John Buttrick. However, Bread Burnham, the other co-founder name is missing from the partner's list in this SEC filing.
Notably, Union Square Ventures which was started in 2003 has some massive names under their portfolio. The company portfolio includes top names like Twitter, Tumblr, Etsy, Twilio, Meetup, DuckDuckGo. The latest entrant in the portfolio of Union Square Ventures (USV) is Carta and Coinbase.
Fred Wilson, the co-founder of the VC fund did not talk about the funding because of their policy of not discussing funding activities with the media. However, he had said that they can be proud of getting the capital from various investors who have infused the funding. Wilson is a fan of small funds and often claims that the firm will never raise massive numbers just for the sake of doing it. In 2010, he had said, “We like the small fund model and are completely and totally committed to it,”
Notably, Wilson was hopeful of getting to see the big names like Uber/Lyft/Slack go for the public listing. However talking about the New Year and the opportunities, Wilson said that the investors will be more cautious this year because of the difficult macro business and political environment in the U.S.
Image Courtesy : Newyorktimes, Union Square Ventures