Revolution Growth on Tuesday announced a new, $525 million investment fund, Revolution Growth III.
Led by investors Steve Case, Donn Davis and Ted Leonsis, the fund will build upon efforts of the previous Revolution Growth fund of $450 million, launched in 2011.
According to the Washington, D.C.-based company, the new fund will invest capital in businesses outside of Silicon Valley that are leveraging technology and new models to disrupt existing, multibillion-dollar industries.
Revolution Growth III will be selective, echoing past growth funds, which have made just three to four investments a year, typically investing $25million to $50 million in each situation.
