Steve Case’s Revolution Raises $525 Million Fund to Invest Outside Silicon Valley

Revolution LLC, the investment firm run by AOL co-founder Steve Case, raised $525 million for a growth fund to back companies mainly based outside of Silicon Valley.

Steve Murray, who spent two decades at SoftBank Group Corp. before joining Revolution this year, will be an investing partner on the new Revolution Growth III. The fund will be led by Case and two other former AOL executives, Ted Leonsis and Donn Davis.