Washington – Steve Case and Ted Leonsis, who teamed during
the 1990s to help make AOL an Internet powerhouse, are now partnering to raise
a new $400 million private equity fund, All Things D reported.
The fund will be
part of Case’s investment firm Revolution Growth, which previously has
invested in companies such as Zipcar, Clearspring and LivingSocial.
another former senior executive at AOL, is the third partner in the group. Case
(the former chairman and CEO of AOL) and Leonsis (former vice chairman and
president) previously worked together for a decade to build AOL into one of the
world’s largest Internet companies, with a market value at its peak in excess
of $100 billion.
All Things D reported that while the two have made investments
together in the past, this marks their first formal investment partnership.
(All Things D)