DC-Based Revolution Growth Launches $450 Million Investment Fund
Washington, D.C. – Revolution Growth, the venture capital firm based in DC and founded by AOL co-founder Steve Case, former AOL senior executive Donn Davis and Wizards and Capital owner Ted Leonsis is planning to turn the East Coast into Silicon Valley by launching a $450 million investment fund called The Revolution Growth Fund.
Later today, Steve Case and the rest of Revolution’s major players will file documents with the Securities and Exchange Commission. According to the venture capital firm, Washington, DC and its surrounding area does not have enough support needed for a startup to soar high especially startups which needs funding amounting to more than $25 million. Revolution firm expresses that the newly launched $450 million investment fund is what is needed to accelerate the growth of a business from adding hundreds of employees and opening new offices globally.
“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.”
Revolutionary Growth Fund plans to invest $25 – $50 million of investment funding to the promising startups but plans to limit the funding to 10 – 12 startups in a 5 year period for Steve Case, Ted Leonsis and Donn Davis wanted to be hands on in the startups they are backing up.
You can visit Revolution’s Official Website for Further Details:
