Union Square Ventures to invest about $75 million in cryptocurrency startups

Union Square Ventures (USV) plans to invest about 30% of its new $250 million fund into the cryptocurrency industry. This is stated in the USV blog.

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“We plan to invest a significant portion of assets in the cryptocurrency industry, including direct ownership of tokens and equity in early-stage blockchain projects,” said Andy Weissman, managing partner of the firm.

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According to him, last year a number of fundamental shifts occurred that accelerated the digitisation of technology stacks.

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USV plans to invest in educational, healthcare and other socially oriented startups.

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In 2020, the average venture deal size in the cryptocurrency industry rose by 33%.

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