Union Square Ventures raises $900 million and reduces active partnership
The firm expanded its early-stage fund to $500 million as it seeks to lead more rounds and incubate startups.
Union Square Ventures has raised $900 million across two funds and reduced its active general partnership to four investors, Bloomberg reported on October 8.
The New York firm raised $500 million for early-stage investments, up from $275 million in 2024, and $400 million for later-stage deals and follow-on investments, compared with $350 million previously.
Cofounder Fred Wilson said larger funds would let USV lead rounds requiring checks of about $30 million. The firm plans to pursue more seed investments and incubate startups internally.
Its four active general partners are Wilson, Nick Grossman, Rebecca Kaden and Michael Mignano, who joined in April. Brad Burnham, John Buttrick, Albert Wenger and Andy Weissman are moving to part-time roles while retaining board seats and the ability to make investments.
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USV recently incubated Supertake, which develops AI agents for consumer stock trading. It also uses agents for investment diligence, deal sourcing and administrative work, alongside human analysts.
Founded in 2003, USV backed Coinbase, Twitter and Duolingo early. Its recent investments include robotics startup Generalist AI and nuclear energy company Radiant Nuclear. The firm has not invested in OpenAI or Anthropic.