Venture capital firm USV announces the closing of a $900 million new fund, betting on application-layer opportunities in the AI era.

On October 9 that the veteran venture capital firm Union Square Ventures (USV) announced via an official post that it has closed a new $900 million fund to support startups operating at the edges of major market transformations.

USV stated that AI infrastructure development is now fully underway. Just as it bet on the internet in 2004, the firm will apply the same logic to back the "intelligent" era. The fund has been significantly expanded from the previous $275 million to navigate the market realities of larger funding rounds and higher valuations in the AI era.

Regarding investment focus, USV highlighted three core themes: AI will reshape markets rather than merely automate them; unlocking previously inaccessible "edge data" (encompassing robotics, manufacturing, sensor networks, etc.); and meeting the demand from consumers and enterprises for stronger intelligence and higher trust alignment (the "Rebel Alliance" theme). Additionally, energy investment strategies have been merged into the core fund.