The New York-based venture firm has raised over $300 million for its eighth early-stage fund and $350 million for its fourth opportunity fund.
In sharing news of the two new vehicles, firm partners Andy Weissman and the firm's general counsel, Samson Mesele, wrote that USV plans to invest their new funds around the same thesis as their previous funds.
USV will continue to invest in both Web2 and Web3 companies and projects, according to the post.
Weissman wrote in a previous post that USV had raised $250 million for its seventh core fund and that the firm planned to close several funds.
One of these newer bets is a platform for infrastructure development. USV was an early investor in Coinbase and owned 8.2% of its Class B shares at the time of its direct offering last year.
Slope is a developer that enables retailers to offer buy-now-pay-later services, and Shift EV is an Egyptian electric mobility startup that aims to convert fuel-run vehicles into EV using batteries.
Over the years, USV has seen its share of exits. Otis, a startup that allows individual investors to buy fractional ownership in alternative assets, was purchased by Public last month. Otis raised $16.5 million from investors, including from USV and Maveron, according to data from Crunchbase.
USV's higher-profile bets have included companies that it owned more than 15% of at the time of their public offerings.
Fred Wilson, the founder of USV, remains active on the social networking site and believes that it is too important to be owned and controlled by a single person. The opposite should be happening. The protocol that powers the communication products and services should be decentralized.
Wilson softened his stance in his newsletter after the board accepted Musk's bid to buy the company.
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