AOL's Steve Case launches $450 mn investment fund

Dec 01, 2011

AOL co-founder Steve Case and two former top AOL executives announced Thursday they have raised $450 million to invest in start-ups located outside of Silicon Valley.

The Revolution Growth fund will focus on building "innovative, high-growth companies" with typical of $25 million to $50 million, the Washington-based group said in a statement.

Case's partners in the fund are former AOL president Ted Leonsis, owner of the Washington Wizards basketball team and the Washington Capitals ice hockey team, and Donn Davis, who also worked at AOL and at AOL Time Warner.

"We will look to invest in what we call the 'speed-up' stage -- when a company is past the venture stage, but not yet to the growth stage," the Revolution Growth partners said in a statement.

"We are particularly interested in consumer-centric companies that use new approaches to disrupt large industries."

Case, Leonsis and Davis said they will generally focus on investments in the eastern United States, where AOL was born.

"We believe there are great entrepreneurs building great companies all over the country, so we will focus our attention outside of ," they said.

The trio said they expect to make a total of 10 to 12 investments over the next five years and will announce their first investment early next year.

Formerly known as , AOL fused with news and entertainment giant Time Warner in 2001 at the height of the dot-com boom in what is seen as one of the most disastrous mergers ever.

It was spun off by Time Warner in December 2009 into an independent company.

Explore further: Apple intercepts Microsoft's Surface tablet NFL play

add to favorites email to friend print save as pdf

Related Stories

AOL acquires Web video company 5min Media

Sep 28, 2010

AOL, the once high-flying Internet portal which is seeking to make a comeback as a content company, announced Tuesday it has acquired Web video syndication firm 5min Media.

Huff Post closes deal to join AOL

Mar 07, 2011

The Huffington Post officially joined AOL Monday, celebrating with the announcement that it had nabbed reporters from The New York Times, Yahoo!, and even Rupert Murdoch's new iPad newspaper The Daily.

AOL cutting over 900 jobs in US, India

Mar 10, 2011

Internet company AOL is cutting more than 900 jobs as it joins forces with The Huffington Post and seeks to reinvent itself as a major player in online news.

New TechCrunch editor named after founder flap

Sep 12, 2011

AOL named a new editor for popular US technology blog TechCrunch on Monday after 10 days of uncertainty and controversy over the fate of the founder of the site, Michael Arrington.

AOL finally regains independence from Time Warner

Dec 10, 2009

(AP) -- AOL resumed life as an independent Internet company Thursday as it completed its spinoff from Time Warner Inc. and closed the book on one of the most disastrous business combinations in history.

Recommended for you

Line says no IPO this year

6 hours ago

The Japan-based operator of popular mobile messaging app Line said Monday it has decided not to go ahead with an initial public offering in Japan or overseas this year.

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

User comments : 0