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New fund Union Square Ventures invests part of the funds in the cryptocurrency industry

New fund Union Square Ventures invests part of the funds in the cryptocurrency industry

Investment firm Union Square Ventures launches new $250 million Fund About 30% of the funds placed in the fund are planned to be invested in the cryptocurrency industry.

In an article on the company’s blog, Union Square Ventures managing partner Andy Weissman said that the new fund will be called the 2021 Core Fund.

Investments in cryptocurrency companies are quite consistent with the” thesis approach ” to the investments of Union Square Ventures. According to Weissman, a significant part of the investment – about 30% – will relate to the cryptocurrency industry.

“We will directly buy and store tokens, as well as invest in new projects working in the field of blockchain. Blockchain embodies the evolution of trust in computing and financial systems, and also provides them with much wider access. We believe that decentralized systems are still at an early stage of development. We are seeing the adoption of such systems and seeing a lot of interesting activities, ” Weissman wrote.

It should be noted that earlier Union Square has already invested in the cryptocurrency industry-funds from the company were received by such companies as Coinbase, Polychain Capital and Dapper Labs.

Earlier it was reported that in February, Galaxy Digital will launch three new cryptocurrency funds based on ETH.