WASHINGTON, Dec. 1, 2011 – Today, Steve Case, Ted Leonsis and Donn Davis announced that they have successfully raised $450 million in commitments to launch the Revolution Growth fund, surpassing the fund’s target of $400 million set earlier this year.
The Revolution Growth fund will focus its investments in the Eastern United States, backing innovative, high-growth companies that have the potential to disrupt existing business models. The Revolution Growth fund expects to make a small number of investments – just 10-12 over a five year period – enabling Case, Leonsis and Davis to be hands on in the companies they back. The Revolution Growth fund intends to make its first investment in early 2012.
Joe Manzinger, CEO of The Hillman Company, one of 24 institutional limited partners in the Fund, said: “The investment professionals at Revolution Growth have well deserved reputations as effective company builders. They are focused, driven and uniquely positioned to share invaluable insights with managers of high growth, consumer oriented businesses. The Hillman Company is very excited to be a Limited Partner in the new fund.”
Additional information regarding Revolution Growth fund is available at www.revolution.com/growthletter.
About Revolution Growth
Led by Steve Case, Ted Leonsis and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative companies that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing a true partnership with entrepreneurs, Revolution Growth brings a unique strategy and approach to investing in and building significant companies. For more information, visit www.revolution.com/growth.