Independent rating of Union Square Ventures VC fund
Overall rating:
16 reviews
About Union Square Ventures VC fund
Website:
Founded:
2003
Number of funds:
11
Number of investments:
363
Number of exits:
51
Headquarters:
Organization type:
Venture Capital
How Union Square Ventures VC fund invests
Rounds:
Average ticket size:
11.1M USD
Smallest investment:
800K USD
Biggest investment:
31.4M USD
Would lead round:
Yes
Would coinvest:
Yes
Countries where invested:
Sectors of interest:
Education, Product Design, Information Technology, Financial Services, EdTech, Software, Simulation, Sensor, Secondary Education, Real Estate, Online Portals, Natural Language Processing, Marketplace, Mapping Services, Manufacturing, Lending, Internet, Information Services, Health Care, Finance, E-Learning, Drones, Developer Platform, Data Integration, Cryptocurrency, Credit Cards, Construction, Computer Vision, Communities, Cloud Computing, Children, CAD, Blockchain, Big Data, Artificial Intelligence, 3D Technology, 3D Printing
Founders' reviews of Union Square Ventures VC fund
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Older than a year by non-portfolio founder
Won't Waste Your Time, Don't Waste Theirs
I talked with Christina Caccioppo a couple of times, and was frustrated that she didn't really understand anything about our product or model, nor did she seem at all interested in getting a better understanding of it.
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Looking for Mass User Traction
We had the opportunity to talk with USV and they pass politely, it seems they prefer are looking for mass user traction.
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USv and Fred are the Best!
Fred is the John Doerr of the east coast. I have worked with him on several companies. You are lucky to work with him. He brings an honesty and integrity and pursuit of the truth that is refreshing and energizing. Most important, great sense of humor and fun to hang out with.
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Good Interactive Pitch with Constructive Feedback
I recently pitched to Albert Wenger, the newest partner of USV. The experience was interactive and cordial. He was well versed in the space (specific niche of online media) and had insightful questions and good constructive feedback.
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Bite the Hand That...
I pitched Fred Wilson a few months ago and was quickly turned down. The dialogue was semi-cordial, and he cited logic espoused on his blog many months before as the reason. It was like he expected me to know what he wanted to invest in because he is a blogger.
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They Know What They Want
I had excellent introductions into Union Square, and they were pretty up-front that they were talking to me because of those, not because they were impressed with my deck. It also became apparent in the first 5 minutes that my venture was not the kind of thing they were looking for.
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Key to Success in the Space
If you have the latest Web 2.0 idea and want to know if you are onto something pitching your idea to Fred is a great idea. If he wants to fund your deal quit your job, empty your savings, charge up your credit cards ~ get ready for success. If he doesn't like your idea, go back to the drawing board and rethink your idea. Of course, this only applies to Web 2.0-esque businesses
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Thesis Driven Investors
With only two partners, Union Square is nimbler than a lot of venture firms. The combined venture experience of the two partners - Brad Burnham and Fred Wilson - is extensive. They're unusual in being what they term 'thesis-driven' - i.e. they know in advance what kinds of start-ups they want to invest in. So, they often identify market opportunities in advance - normally web services businesses - rather than just responding opportunistically to deal flow. In our case, we took an investment from Union Square some time after they approached us saying 'we've spent the last six months looking for a business like yours'. That was pretty unusual in our experience of talking to venture firms. USV is focused on investing early in a start-up's life and supporting their investee companies from that early stage. I'd definitely recommend them.
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Fred Wilson is an Excellent Board Member
Fred Wilson invested in my company with his previous fund. I had the luxury of having him in my board and to this day, several companies and tens board members later, still consider him the best board member I ever had. He was very engaged in every meeting and in between meetings, really paid attention to the entrepreneurs concerns and tried to help in every way he could. You could really appreciate his sense of ownership and devotion for the company.
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Picky, but Great to Work With
Both Fred and Brad are very sharp and quick. They have a vision of what things should be and follow it in all of their interactions. During the pitch, as with any VC, there are quirks and bumps, but for the most part its straight talk.
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Really Smart People
A real breath of fresh air in the VC community. They depend on their skills, experience and common sense. I found them humble and knowledgeable.
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Value Add Investors
Both Brad and Fred on our board. They complement each other very well. They complement the rest of our board very well. They are truly value-add investors and the best folks that I have seen when it comes to working with early stage technology companies in fast-moving, dynamic markets.
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Second to None in NYC
New York is a great market with really weak early stage Internet and technology investing. Fred and Brad have created the premier brand for VC in Silicon Alley. You might have to accept slightly weaker terms to work with them, but you should. They add more value and are more strategically engaged than almost any investor I've ever heard of. Fred has been on my board for almost seven years, and if I ever do another startup, I won't even consider working with other VCs besides Fred and the other members of my syndicate (assuming I have my pick!).
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Brad is Attentive
Brad is attentive and responsive ... He picked up his phone and responded intelligently... that's already extremely rare in the industry.
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Quick Answers
I agree with the other reviewers. I pitched to these guys and got a quick "no" out of them. It was a great learning experience.
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Pitch Them to Learn, Don't Expect Cash
Not the best experience pitching Union Square, although Fred Wilson is a super-smart icon... Does not seem like the fund is making a lot of investments, so expect them to be super picky.