1 Revolution’s Rise of the Rest announces second $150 million fund
Just two years after launching Revolution’s first Rise of the Rest Seed Fund, the firm announced this week it has closed on a second $150 million fund to invest in high-potential startups outside the U.S.’s major tech hubs. That’s good news for South Florida companies, because the first fund backed three of them: Blanket.AI, Caribu and Xendoo.
Revolution’s first Rise of the Rest Seed Fund, launched in late 2017, has backed nearly 130 companies in nearly 70 cities across 32 states. D.C. and Puerto Rico, and includes investors such as Jeff Bezos, Sara Blakely Eric Schmidt and Meg Whitman,. The balance of its capital will be reserved for follow-on investments in these companies. Investments in new companies will be made from the second Rise of the Rest Seed Fund announced today.