Steve Case’s Investment Firm Raises $450 Million for Growth Fund

Revolution LLC, an investment firm started by America Online Inc. co-founder Steve Case, raised $450 million for the Revolution Growth fund.

The amount exceeds the fund’s $400 million target, Washington-based Revolution said today in a statement.

Revolution Growth plans to make 10 to 12 investments over a five-year period, focusing on high-growth companies in the Eastern U.S. with “the potential to disrupt existing business models,” according to the statement. The fund’s first investment is will be made early next year.

In addition to case, Revolution Growth is run by former AOL senior executives Ted Leonsis and Donn Davis.

To contact the reporter on this story: Sabrina Willmer in New York at swillmer2@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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