USV closes on $450M for new funds, adds two partners

Union Square Ventures, a venture capital firm known for early bets in Twitter, Etsy and Tumblr, has $450 million in capital commitments to plow into the next generation of technology startups.

The capital, which comes in just above the $429 million USV filed to raise earlier this year, is divided across two new funds: $200 million for its 2019 Core Fund and $250 million for the 2019 Opportunity Fund. The two funds are larger than their predecessors, which both closed on $175 million in 2016.