Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Funds / USV Climate 2021, LP

USV Climate 2021, LP

MatureClosed to new capitalFundADV: Venture Capital FundUnion Square VenturesDelaware
Amounts, each with its basis
Vintage
2021basis: name year
Target
unknownnot announced
First close
unknownnever inferred from a Form D
Final close
unknownonly from an announcement or an LP disclosure
Announced size
unknown
Form D offering
$151Mwhat may be sold, not what was raised; file 021-384932, sworn by the adviser or filed under this vehicle
Form D sold
$151Mas of the filing of Dec 31, 2020, 102 investors
First sale
Dec 18, 2020
Reported GAV
$146Mon the Form ADV filed Mar 29, 2024; the fund's assets, never its size or dry powder
Owners (ADV)
103
Reported on ADV
Mar 30, 2021 to Mar 29, 2024
Fundraising evidence
Closed to new capital
Form D filed or amended 2020-12-31: the stated $151.3M offering reported fully sold (fr-1)
evidence dated Dec 31, 2020. A Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Lifecycle
Mature
vintage 4 to 7 years
age years: 5first sale: 2020-12-18vintage year: $2,021adv gav as of: 2024-03-29vintage basis: name_yearform d sold usd: $151Mform d offering usd: $151Mform d latest filed at: 2020-12-31
The fund's own reporting through time
4 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Mar 30, 2021Venture Capital Fund$152M
1033%yes
Mar 31, 2022Venture Capital Fund$163M
1033%yes
Mar 30, 2023Venture Capital Fund$153M
1033%yes
Mar 29, 2024Venture Capital Fund$146M
1033%yes
Principals and agents
6 principals on Form D, 0 placement agents
Limited partners and their reported performance
1 public LP report
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
Oregon Public Employees Retirement Fund oregon.gov2020$15.0M$12.6M$0$18.5M11.6%1.5xMar 31, 2026

Each row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).

Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
4 events
  1. Mar 31, 2026
    OPERF reports USV Climate 2021: $15,000,000 committed, vintage 2020, net IRR 11.6%, 1.47x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Mar 31, 2026
    OPERF reports USV Climate 2021: $15,000,000 committed, vintage 2020, net IRR 11.6%, 1.47x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  3. Mar 30, 2021
    USV Climate 2021, LP first reported on Form ADV by Union Square Ventures (Venture Capital Fund), GAV $151,735,000
    Fund first reported on Form ADV Fact SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  4. Dec 31, 2020
    USV Climate 2021, LP filed Form D: $151,335,000 sold of $151,335,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
16 observations
Every observation on this vehicle