California, New York and Massachusetts have a reputation for entrepreneurship and innovation. However, the opportunities for investment reach far beyond these three states and investors are taking notice.
AOL cofounder Steve Case and “Hillbilly Elegy” author J.D. Vance have launched a $150 million Rise of the Rest Seed Fund with Jeff Bezos, Ray Dalio, Meg Whitman, the Kochs and the Waltons. Case, who founded the venture capital firm Revolution in Washington D.C. in 2005, sought to seek more places to invest in beyond California, New York and Massachusetts.
Taking his theory to the road, Case embarked on seven bus tours across the country, meeting with city leaders, hosting startup competitions and awarding $100,000 toward a seed round. To date, he has awarded more than $3 million of his personal money and Revolution has invested more than $1 billion across the country, according to Business Insider.
And there’s more on the horizon. Case and Vance announced the Rise of the Seed Fund in December 2017 along with 34 high-profile investors, seeking to spread their $150 million over three to four years across approximately 100 investments.
The fund will support the potential of budding startup communities across the country, building an influential network and energizing other cities.
Read more at Business Insider.
