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The Pulse of New York Tech

The NYC Venture Capital News Digest: 1/2/19

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This bi-weekly column covers the latest news from venture capital firms in NYC for the second half of December 2018 featuring must know news including two previously unreported funds for Union Square Ventures, Lakehouse Ventures, Zigg Capital, and much more.

If you have NYC venture capital firm news to submit for consideration for this column please send to vc@alleywatch.com.

Union Square Ventures
$190.5M Fund Close


Union Square Ventures has closed its 2019 LP fund at $190.5M according to a recent SEC filing. The filing indicate that 113 LPs took part in the close. Union Square Venture's previous main fund closed in 2016 at $175M. Notable investments in the USV portfolio include Twitter, MongoDB, Behance, Zynga, Lending Club, Twilio, Etsy, Meetup, Tumblr, and Indeed. The firm was founded by Fred Wilson and Brad Burnham in 2004.
Union Square Ventures
$238M Opportunity Fund Close


Union Square Ventures has also closed its 2019 Opportunity fund, reserved for later stage and follow on investments, at $238M according to another recent SEC filing. The filing indicate that 116 LPs took part in this fund. The previous opportunity fund closed in 2016. Of note, unlike past filings, neither of these two filings list founder and Partner Brad Burnham.
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Zigg Capital
$100M - Fund I Filing


Zigg Capital is raising its first fund according to a recent regulatory filing. The filing indicates the firm is targeting $100M and lists David Eisenberg (Floored, Red Swan Ventures) and Ryan Orley (Millwell) as Executives.
Lakehouse Ventures
$519K - Close


According to a recent SEC filing, Lakehoues Ventures, has closed its first strategic opportunities fund at $519K with 7 limited partners. The filing lists John Neamonitis (WorkOf, AB Bernstein, Credit Suisse) as the GP. Lakehouse Ventures has made recent investments in Iris Nova, Billie, and Mixlab. Lakehouse had previously filed paperwork for a Fund II offering at $25M back in September of 2018.

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