Washington, DC – Revolution Growth, the DC-based investment firm led by AOL co-founder Steve Case, Wizards and Capital owner Ted Leonsis and former AOL senior executive Donn Davis, said on Thursday it has raised $450 million for its new Revolution Growth Fund, which plans to invest in East Coast start-ups.
The firm said it plans to make a small number of investments – just 10-12 over a five-year period – so that Case, Leonsis and Davis can be hands-on with the companies they back.
The initial investment is expected early next year, with typical investments expected to be $25-$50 million.
“We will spend considerable time with each company, rolling up our sleeves to partner with great entrepreneurs to build iconic platform companies,” the three wrote in a letter introducing the fund. “As you might expect, we are particularly interested in consumer-centric companies that use new approaches to disrupt large industries.”
This article was also published in Potomac Tech Wire.
Press release – http://tinyurl.com/7qho39qPhoto by Flickr user Andrew Magill, used under Creative Commons license