Union Square Ventures Really Likes New York City

Union-Square-VenturesUSV likes the Big Apple so much in fact, that three of the six investments they’ve sourced in Europe have relocated here. Rather surprisingly, the opposite is the gist of Fred Wilson’s short piece recently featured on Business Insider. Originally published at the A VC blog, the article (titled “Some Thoughts On Geography”) makes a case for the non NYC-centric mindset that VCs currently have, Union Square Ventures in particular. According to Wilson, he and USV “are focused on one thing, internet services of scale, and are willing to travel to find them.”

Though there is ample evidence to support USV’s open-mindedness about looking for good places to invest in (see last week’s article about ChubbyBrain where a good number of VCs are from out-of-town), New York City remains the best habitat for tech. Sure, there’s still the U.K., Europe, and even Israel but certain adverse conditions in these places don’t exist across the pond, meaning NYC is going to maintain its position as USV’s stomping ground for a good while.

However, like Wilson said, he’s willing to go places and meet exciting people outside New York. In his article he even goes so far as to offer a glimpse into what lies ahead: mainly new opportunities in Seattle, Boston, LA, Toronto, Chicago and beyond. What can be gleaned from this? According to Wilson VCs like him are on hand to find the right investments, which are mostly in the NYC area where USV enjoys one of the fattest portfolios around. Additionally (and unmentioned), the future of the tech industry is bright, but New York City’s luster isn’t going to fade any time soon.

Via: Business Insider