USV Raises $900M, Its Largest Fund Ever, Betting AI Will Reshape Markets
rebeccakaden · x · 2026-10-08
Veteran VC firm Union Square Ventures (USV) has closed $900M in new funds — $500M for early-stage and a $400M opportunity fund — its largest fund cycle ever. USV was an early backer of Twitter, Etsy, Twilio, MongoDB, Coinbase, Duolingo, and Abridge. GPs Fred Wilson, Rebecca Kaden, and Mike Mignano explained in an interview why the firm, which deliberately kept funds small for over 20 years, is now scaling up. Their new thesis: AI could obliterate entire markets while creating new ones.
Related event: Union Square Ventures Raises Record $900M Fund Betting on AI(2 posts)→
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