The post VC fund USV took profit on its 2020 investment in Uniswap (UNI) appeared on BitcoinEthereumNews.com.

USV, one of the early investors in Uniswap (UNI) sent another batch of tokens to Coinbase Prime. The early investor started sending UNI to the exchange since December 6.  Union Square Ventures (USV) has sent more Uniswap (UNI) tokens to Coinbase Prime, potentially taking profits on its earlier investments. The fund is one of the early backers of Uniswap from 2020, which waited for a more favorable price range. USV is a Tier 2 fund, specializing in Series A financing.  In the latest transaction, USV transferred 578,000 UNI, valued at $8.45M. In three weeks, USV moved 3.511M UNI, valued at $54.56M. The fund holds more than 10M UNI in its remaining share, valued at more than $156M.  The involvement of USV is relatively small compared to other VC backers for Uniswap. The fund has a total of 43 early investments in the crypto space, and has achieved higher returns compared to other VC funds. USV was one of the early backers of Polygon, profiting from the platform’s growth during the boom of Web3 services. USV has achieved total returns of over 165,200%. The popular DEX project used its first-mover advantage to raise more than $188M in several rounds over the years. USV participated in a Series A round raising $11M, while Uniswap was still in its early stages and did not yet attract the biggest funds.  Uniswap later received backing from A16Z and Polychain Capital, helping the DEX raise its $165M Series B round in 2022. Investors control a little over 18% of the UNI supply, with the biggest share left for governance and community activities. UNI has managed to hold onto a respectable price range, as most backers hold onto their tokens, expecting higher potential returns or governance rights. USV transferred the funds from two main wallets, address 1…

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Filed under: News - @ December 25, 2024 8:28 am