Lending Club, Funding Circle investor USV raises more than $428m across new funds

Union Square Ventures has pulled in more than $428m of new capital across a pair of vehicles.

USV targets vertical networks and marketplaces such as those in the financial services, underlying tech such as database and cloud comms businesses, and decentralised data pioneers including blockchain developers.

FinTech investments to date include Lending Club, Funding Circle, CircleUp and Stash.

The firm has pulled in more than $190m for its USV 2019 fund in what appears to be a final close, according to a filing the firm lodged with the US Securities and Exchange Commission.

It has also gathered about $238m for a USV Opportunity 2019 vehicle, a second filing reveals, with no more capital left to raise according to the filing.

USV has also filed to raise $11.3m through an Opportunity Investors 2019 vehicle, although it is not clear if this capital is in addition to the main Opportunity 2019 fund.

The raises see USV return to fundraising two years after pulling in about $167m for its last flagship venture capital fund, Union Square Ventures 2016.

USV previously raised $175m for Union Square Ventures 2014, and an identical amount for an opportunity fund the same year.

The firm was launched by ex-AT&T Ventures exec and TACODA co-founder Brad Burnham and long-time venture capitalist Fred Wilson in 2003.

 

It recently tapped its opportunity fund to lead a Series C round for plus-size women commerce and community platform Dia&Co.

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