Fresh off his recent “Rise of the Rest” tour, Steve Case is raising a $100 million seed fund to back local startups across the U.S.
The AOL co-founder and Revolution chairman launched a startup competition three years ago to “nurture the innovation and entrepreneurial talent that exist outside of Silicon Valley and New York.”
In March, Revolution recruited J.D. Vance, author of Hillbilly Elegy, to head the Rise of the Rest tour, which has visited 33 cities — most recently Columbus, Ohio, Green Bay, Wis., Indianapolis, Ind., and Ann Arbor, Mich.
Winners of the latest competition include 120WaterAudit, which provides water testing services for households and schools, and logistics company Lanehub.
In all, 29 winning startups have secured a $100,000 from Case himself. SEC documents show the Rise of the Rest Seed Fund is seeking minimum investor commitments of $250,000.
