The Next Chapter of USV

In 2004, USV founders Fred Wilson and Brad Burnham published a memo to the Limited Partners of our inaugural fund. In this memo, they wrote, “we believe that we will generate superior returns by investing in early stage companies that exploit the now ubiquitous Internet infrastructure and add value to broadly available core technologies.” It was this original thesis that enabled them to clearly see the opportunity ahead of them and back category-defining winners such as Twitter, Twilio, Etsy, MongoDB, and Coinbase in the early days of the modern Internet and mobile ecosystems.