We founded Union Square Ventures in 2003 to invest in the applications layer of the web. Over the last seven years, we have refined that investment focus. We now invest almost exclusively in Internet services that create large networks. Some might think this focus is narrow. We don't see it that way at all. We believe the irresistible economics of Internet networks will ultimately transform the entire global economy. We continue to be very excited by the opportunity to invest in that transformation.
Early on, we recognized that investing in web services was different than investing in chips, routers and enterprise software. The start-ups are more capital efficient. Differentiation is more about user experience than proprietary technology. Defensibility is more about network effects than patents. We have designed our small, collegial, partner driven firm specifically for this new opportunity. Smaller fund sizes allow us to invest only as much as an entrepreneur needs and our successful portfolio companies can have a big impact on the funds' returns.
To read the full, original article click on this link: The Opportunity Fund - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing
