Union Square Ventures Raises Nearly $429M for Two 2019-Vintage VC Funds
Union Square Ventures raises nearly $429 million for two new 2019-vintage venture funds, marking the largest fundraising total in the firm's history.
Union Square Ventures (USV) files SEC paperwork revealing that it raises nearly $429 million for two new venture funds. This massive total represents the largest fundraising haul in the firm's history since its founding in 2004. The new capital consists of an early-stage fund and a growth fund, both of which break previous firm records for their respective categories.
The early-stage vehicle, USV 2019 LP, totals $190.6 million and gathers capital from 113 limited partners. The growth-focused USV Opportunity 2019 fund brings in $238.2 million from 116 investors. In addition to these two main funds, USV also files paperwork for two smaller sidecar funds to support its investment strategy.
USV boasts an impressive portfolio that features successful exits like Twitter, Twilio, Tumblr, and Meetup, alongside highly valued private companies such as DuckDuckGo, Carta, and Coinbase. Founding partner Fred Wilson declines to comment on the new filings. Managing partner Andrew Weissman signs all the SEC documents on December 28, 2018, officially cementing the firm's expanded financial firepower.