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Revolution Growth to Invest in Next Wave of High-Growth Companies outside the Silicon Valley

A total of $525 million has been raised by Revolution Growth for its Revolution Growth III. According to a release by the company, Revolution III (the third vehicle by the US-based venture capital fund) has been developed in order to invest in tech companies that are located outside of the Silicon Valley.

Revolution III is being led by Steve Case, Donn Davis, and Ted Leonsis. Revolution III will continue building on the $450-million Revolution Growth fund which was launched back in 2011. The target of Revolution III was initially $450 million; however, it has surpassed to reach an amount of $525 million. In committed capital Revolution funds now exceeds more than $1.1 billion, including the current fund as well as the funds from Revolution Ventures.

Revolution Ventures will invest an amount ranging from $5-10 million in promising startups. On the other hand, Revolution Growth will follow a more selective path of business. It is said to only make 3 or 4 investments a year with each investment ranging from $25-50 million.

These investments are believed to help the partners of the firm assist companies in the fields of education, transport/energy, food, financial services, health care, and government services. Companies such as Revolution Foods, Optoro, Handy, sweetgreen, CustomInk, and Bedrock Manufacturing (Shinola and Filson) are also included.

The Revolution Growth investment team also went through a recent expansion. A venture capital veteran at Softbank, Steve Murray, joined the team as a partner. In January both Scott Hilleboe and Evan Morgan, the existing investment team members, were promoted to partner. In the fall of 2015 Kristin Gunther, Ashley Larson and Chris Hughes (all Vice-Presidents) joined in the firm. The new team members are said to provide the firm with more expertise for the next phase of investments.

According to Steve Case, Revolution Growth was created because of the belief that working with the right team, idea, and partners, opens many opportunities when it comes to building innovative and lasting companies all over the country, and not just in Silicon Valley.

Companies that understand the importance of partnerships, place, and policies are being searched by the investment team for working together.   

   


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