Union Square Ventures (USV), a New York City-based venture capital firm, has raised $900 million across two investment funds, comprising $500 million for early-stage investments and another $400 million allocated to opportunities.
The firm will be led by general partners Nick Grossman, Rebecca Kaden, Fred Wilson and newly appointed Michael Mignano, with an investment strategy focused on companies using artificial intelligence, physical intelligence and emerging technologies to transform established markets.
USV Targets AI Applications and Physical Intelligence
The firm’s investment priorities include businesses operating at the application layer of technology, particularly those leveraging AI to reshape existing markets.
USV is also targeting companies that collect and organise offline data through physical intelligence and artificial intelligence.
This category, which the firm describes as “Data at the Edge,” covers several industries, including software, robotics, manufacturing and sensor networks.
It also extends to businesses that expand digital operations into physical environments, connecting online platforms with real-world activities.
Another area of focus is companies developing intelligence while pursuing closer alignment of incentives across areas such as trust, security, memory and costs.
USV refers to this investment theme as the Rebel Alliance.
Michael Mignano Joins an Expanded Investment Team
Michael Mignano, co-founder of podcast platform Anchor, is among the firm’s latest additions.
His appointment as a general partner forms part of a broader expansion of USV’s investment team.
The firm has also brought in Jared Hecht as a venture partner.
Hecht co-founded GroupMe and Fundera, while Scott Belsky joins as a product advisory partner.
Belsky co-founded Behance and previously served as chief product officer at Adobe.
These appointments add experience across technology entrepreneurship, product development and venture investing to the firm’s existing leadership structure.
Senior Partners Retain Roles Across the Firm
Mignano, Hecht and Belsky will join the wider group of professionals supporting USV’s investment activities.
The core investment team will include Fred Wilson, Rebecca Kaden, Nick Grossman and Nikhil Raman, alongside Mignano and the firm’s newly appointed partners.
Meanwhile, Andy Weissman, Albert Wenger, John Buttrick and Brad Burnham will continue working with USV and supporting companies within its portfolio.
Kerri Rachlin will lead the firm’s finance and operations functions.
