Union Square Ventures Raising $200 Million New Fund For Late Stage Investment

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Union Square ventures is raising $200 million for a new fund, according to a SEC filing.

This is a modest increase from the last fund it raised which was $156 million.

However, it will be used for a radically different purpose, reports Dan Primack at Fortune.

He says the fund, named “Union Square Ventures Opportunities Fund,” is going to focus on later stage investment.

Traditionally, USV has been an early stage investor.

This new fund will be led by John Buttrick, who is new to USV. Previously, Buttrick was a limited partner at Buck Creek Capital.

There is a lot of money in late stage investing right now with DST, Kleiner, Andreessen Horowitz, and Elevation Partners all in the mix.

That said, the early stage investment space is crowded too with Super Angels.

Seperately, USV is working on raising another fund for its traditional early investing says Primack.

We’ve emailed with USV’s Fred Wilson to get some clarity on this new fund.

He says, “We cannot comment at this time because we’re still in the process of raising the fund. We look forward to giving you a full report when that process concludes, which is expected later in January”

Update: On Twitter, Chris Dixon speculates this new late stage fund could be useful for deals that USV passes on which it has first right of refusal for. Of course, if that’s the case, is a new partner needed?

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