Steve Case’s Revolution Ventures has raised a $200 million fund. The twist on this fund is that Case will focus on entrepreneurs outside Silicon Valley. Studies show that 40 percent of VC winds up in Silicon Valley, suggesting there’s likely talent across the country which could use capital.
Revolution invested in Zipcar, getting a payday when Avis bought the car sharing startup earlier this year. Case has been supportive of the share economy, also backing office sharing startup LooseCubes, which didn’t make it.
All of the four initial investments of the fund are either web or mobile based software services. This isn’t surprising given the size of the fund and low capital scaling costs of these types of companies. I could see potential capital flowing to a startup with an innovative mobile platform for sharing, though arguably at this point the low hanging fruit (car sharing, ride sharing, vacation sharing), has been picked. But for eager startups with a fresh idea that helps share resources, leverages mobile devices and is scalable, I suspect Case might give them a listen.