Back in December, we spotted an SEC filing indicating that Union Square Ventures was raising between $135 million and $200 million for a new "Opportunity Fund." The offering wasn't complete and the firm could not discuss it, but today partner Fred Wilson explains in a post what the new fund (which ended up being a $165 million fund) is all about. The fund is not about going after different opportunities than Union Square has been focussed on since the outset. It is that the size of the opportunity Union Square is focussed on?which Wilson describes "Internet services that create large networks"?is larger than ever. And the new fund will provide more dry powder to invest in network startups, whether they need $25,000 or $25 million. Wilson explains:
Source: http://feedproxy.google.com/~r/Techcrunch/~3/5AoCOmBDcMo/
No comments:
Post a Comment