[NEWS] USV closes on $450M for new funds, adds two partners – Loganspace

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[NEWS] USV closes on $450M for new funds, adds two partners – Loganspace


Union Square Ventures,a endeavor capital firm known for early bets in Twitter,Etsyand Tumblr, has $450 million in capital commitments to plow into the subsequent technology of technology startups.

The capital, which is available in handsome above the$429 million USV filed to come byearlier this 365 days, is split all the scheme by scheme of two original funds: $200 million for its 2019 Core Fund and $250 million for the 2019 Opportunity Fund. The two funds are higher than their predecessors, which every closed on $175 million in 2016.

USV is increasing its partnership to govern the original funds. The firm announced this day the hiring of Gillian Munson as a partner. Munson became once most not too prolonged ago the chief monetary officer at XO Media, a alternate guilty for loads of brands, in conjunction with marriage ceremony planning scheme The Knot. Furthermore, USV has promoted Reduce Grossman, the firm’s old total supervisor of special initiatives, to partner. Grossman specializes in cryptonetworks and blockchain technology.

Essentially based in 2003 by Fred Wilsonand Brad Burnham,USV has been cautious in increasing its partnership. Munson and Grossman tag the seventh and eighth additions to its crew of companions in its 15-365 days history. Most not too prolonged ago, Rebecca Kaden joined from Maveron to becomeUSV’s first female partner.

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