Investment firm Union Square Ventures launches new $250 million Fund. About 30% of the fund are planned to be invested in the cryptocurrency industry. In an article on the company’s blog, Union Square Ventures managing partner Andy Weissman said that the new fund will be called the 2021 Core Fund.
Investments in cryptocurrency companies and assets is becoming an essential part of investment firms so according to Weissman,
a significant part of the investment about 30%, will go to the cryptocurrency industry.
We will directly buy and store tokens, as well as invest in new projects working in the field of blockchain. We believe that decentralized systems are still at an early stage of development. We are seeing the adoption of such systems and seeing a lot of potential in cryptocurrency industry, Weissman wrote.
Earlier Union Square has already invested in the cryptocurrency industry-funds like Coinbase, Polychain Capital and Dapper Labs.
Also, It was reported that in February 2021, Galaxy Digital will launch three new cryptocurrency funds based on ETH.