Tech-centric venture capital firm Union Square Ventures has announced that 30% of its 2021 Core Fund will go to “crypto-related investments.”

A blog post from Andy Weissman, a partner, reveals that this year’s iteration of the company’s Core Fund has $250 million already committed. It also elaborates on how USV plans to invest that crypto-focused 30%:

“As in our last several funds, we expect a significant portion of the investments—around 30%—will be crypto-related investments. This will include holding tokens directly as well as equity in early-stage blockchain-related projects. Crypto networks embody both the evolution of trust in computing and financial systems, as well as vastly expanded access… We believe the opportunity to decentralize systems is still in early stages, seeing adoption tailwinds, and with a lot of interesting new activity.”

Union Square Ventures was not immediately available for comment on crypto allocations in previous funds, but the company has been a longtime proponent of decentralized systems. 

USV invested in CryptoKitties back in 2018, and remains a member of the Diem Association—the corporate governance group connected Facebook’s attempts at a digital currency.

Source: decrypt