AOL's Steve Case launches $450 mn investment fund

December 1, 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: AOL acquires Web video company 5min Media

Related Stories

AOL acquires Web video company 5min Media

September 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

March 7, 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

March 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

September 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

December 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

Cryptocurrency rivals snap at Bitcoin's heels

January 14, 2018

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.

Top takeaways from Consumers Electronics Show

January 13, 2018

The 2018 Consumer Electronics Show, which concluded Friday in Las Vegas, drew some 4,000 exhibitors from dozens of countries and more than 170,000 attendees, showcased some of the latest from the technology world.

Finnish firm detects new Intel security flaw

January 12, 2018

A new security flaw has been found in Intel hardware which could enable hackers to access corporate laptops remotely, Finnish cybersecurity specialist F-Secure said on Friday.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.