USV Raises $900M Fund to Focus on Early-Stage AI and Tech Investments

Venture capital firm USV raises $900 million new fund to focus on early-stage investments in AI and other fields. Gold财经 reports that on October 9, Union Square Ventures (USV) announced the raising of a $900 million new fund dedicated to supporting startups building at the frontier of large markets undergoing technological transformation. USV stated that its previous core fund had a size of $275 million; this increase in scale aims to lead more rounds and provide longer-term support for companies in the AI era, as well as invest in capital-intensive sectors such as robotics, manufacturing, and energy. Additionally, the team welcomes several new members, including General Partner Michael Mignano (co-founder of Anchor), Venture Partner Jared Hecht (co-founder of GroupMe and Fundera), and Product Advisor Partner Scott Belsky (co-founder of Behance and former Chief Product Officer at Adobe). These new members will join USV’s seasoned investors Fred Wilson, Rebecca Kaden, Nick Grossman, and Nikhil Raman to form the core investment team going forward. Andy Weissman, Albert Wenger, John Buttrick, and Brad Burnham will also continue to support USV and its portfolio companies.