Steve Case’s Revolution is targeting $500 million for its fourth growth fund – TechCrunch
Revolution, the Washington, D.C.-based investment firm founded by AOL cofounder CEO Steve Case and former AOL senior exec Ted Leonsis, is raising $500 million for its fourth fund, shows a new SEC filing. It has been more than four years since Revolution announced its third growth fund, a vehicle that closed with $525 million in capital commitments. I don’t think you’ll see a mass exodus from the city, whether that be Silicon Valley or New York or Boston, which some have predicted. If you just look at the the NVCA data, last year, 75% of venture capital went to just three states and more than 90% of venture capital went to men and less than 10% to women, even though women represent half our population. And last year, even though Black Americans are about 14% of the population, Black founders got less than 1% of venture capital.