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      VC firm USV raises $900 million new fund focused on early-stage investments in AI and other sectors

      PANews, October 9 — Venture capital firm Union Square Ventures (USV) announced it has raised a $900 million new fund dedicated to supporting startups building at the frontier of large markets undergoing technological transformation. USV said its previous core fund was $275 million; this expansion is aimed at leading more rounds in the AI era, supporting companies for longer, and investing in capital-intensive sectors such as robotics, manufacturing, and energy.

      In addition, the team has welcomed several new members, including general partner (GP) Michael Mignano (co-founder of Anchor), venture partner Jared Hecht (co-founder of GroupMe and Fundera), and product advisor partner Scott Belsky (co-founder of Behance and former Chief Product Officer of Adobe). These new members will join USV's veteran investors Fred Wilson, Rebecca Kaden, Nick Grossman, and Nikhil Raman to form the future core investment team; meanwhile, Andy Weissman, Albert Wenger, John Buttrick, and Brad Burnham will also continue to support USV and its portfolio companies.


      Source: PANews
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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud