Andy Weissman, the cofounder of Betaworks, a New York-based incubator/investor/operating firm for startups, is joining Union Square Ventures, one of the best VC firms in the world.Weissman’s Betaworks partner John Borthwick announced the move in an email to Betaworks’ 82 employees, which BetaBeat first reported.
Part of the reason Weissman decided to jump to USV because he wanted to do more investing at Betaworks, Peter Kafka of All Things D reports. This caused some friction because Betaworks is venture backed itself. Its investors felt like it would be competing against them.
Union Square Ventures is in the process of raising a new fund in the range of $150-$200 million.