After nearly a decade of investing our own capital in venture stage companies, we are excited to share the news that later today, we will close the Revolution Ventures fund, the first early stage fund from Revolution that also includes investment from institutional investors.  We anticipate that the fund will close at $200M in commitments, well ahead of our initial $150M target.

We will continue doing in the new fund the same thing we have been doing since we founded Revolution in 2005: concentrating our effort and capital in a small number of early-stage companies that are using new technologies to reinvent large, existing categories.

The Revolution Ventures fund launches with four great previously-made investments that represent our philosophy that promising young companies can be found throughout the US: BenchPrep (based in Chicago), Booker Software Inc. (based in New York), Homesnap (based in Washington, DC), and RunKeeper (based in Boston).

We’re pleased to welcome a fantastic group of LPs to the Revolution Ventures fund, representing leading pension funds, endowments, funds-of-funds, and family offices, and including a number of LPs in our later-stage fund, Revolution Growth. The Revolution Ventures investment team continues to be the largest investor in the fund, by far.

To the many of you who helped us grow Revolution over the last decade, thank you.  And to the many of you building and backing great disruptive young companies, we hope to work with you through our new fund.

You can learn more about the Revolution Ventures fund in the video above and in our introduction letter.