Monday, September 27, 2021
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About 30% Of Union Square Ventures New $250 Million Fund Will Be Invested In Cryptocurrency Industry

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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.

Buy and Sell Cryptocurrency at Paybis

Also, It was reported that in February 2021, Galaxy Digital will launch three new cryptocurrency funds based on ETH.

Read: According To Investors Document, Galaxy Digital Will Launch ETH-Based Funds In Feb 2021

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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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