TechCrunch founder starts venture capital fund

(AP) -- Michael Arrington, founder of popular tech blog TechCrunch, is starting a venture capital firm with an initial $20 million to invest in the same kinds of startups that TechCrunch often covers.

The fund's investors include tech company AOL Inc., which bought last year for an undisclosed amount, and a number of prominent venture capital firms such as Greylock partners, Kleiner Perkins Caufield & Byers and Sequoia Capital.

Arrington will be heading up the fund with Patrick Gallagher, who is a partner at VantagePoint Capital Partners.

According to a media reports, Arrington will no longer be TechCrunch's editor, but his involvement in the site beyond that remains unclear. AOL did not respond to multiple requests for comment Friday.


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