Steve Case and the team at Rise of the Rest are raising $100 million for a new seed fund, a Securities and Exchange Commission filing from Friday shows.
According to the Form D filing, the fund has yet to bring in outside investors and the minimum investment is $250,000. Revolution CEO Steve Case is listed as the fund's general partner and a member of the Rise of the Rest investment committee.
The expected $100 million raise will come in the form of venture capital, instead of a hedge fund or private equity fund, which is also to be expected given the forms past Rise of the Rest investments have made.
Rise of the Rest is an initiative pioneered by Steve Case, who is also the co-founder of AOL, in an effort to highlight startups in tech hubs outside of San Francisco, New York City and Boston. The team includes Anna Mason, ROTR's director of investments, and "Hillbilly Elegy" author J.D. Vance, who joined Revolution in March to head up the initiative.
Revolution could not comment on the new filing. It's unclear when the new seed fund would close or what exactly the new funds will be used for, if anything, outside of funding new startups for future Rise of the Rest tours.
Rise of the Rest just finished the sixth leg of its tour to not-as-well-known tech and startup hubs. The tour visited Harrisburg, Lancaster and York, Pa.; Ann Arbor, Mich.; Indianapolis, Ind.; Columbus, Ohio; and Green Bay, Wisc. throughout October. Startup founders pitched the ROTR investment team on their ideas for a chance to walk away with an investment from Case.
