Union Square Ventures raises $450M in capital commitments for two funds
Gunderson Dettmer client Union Square Ventures has raised $200 million in capital commitments for its 2019 Core Fund and $250 million for its 2019 Opportunity Fund. The funds are the firm’s sixth Core Fund and third Opportunity Fund since launching in 2003; both are larger than the firm’s previous funds which came in at $175 million.
In the announcement of the 2019 funds Albert Wenger, a managing partner of the firm, highlighted the fund’s “thesis-driven approach” and its intention to continue investing in the USV Network.
The Gunderson Dettmer deal team was led by Brian Hutchings and included partner Steven Franklin and associates Jessie Chen, Peter Dupont, Jeff Liu and Andrew Watiker.