Revolution Ventures raised a $150 million Rise of the Rest seed fund with three dozen high-profile entrepreneurs and investors backing the effort, according to a press release.
The fund plans to make initial investments of up to $1 million in partnership with regional investors in 100 plus companies outside of Silicon Valley. It will not lead rounds or take board seats.
Investors in the fund include Jeff Bezos, Sara Blakely, Tory Burch, Dan Gilbert, Ted Leonsis, Sheila Johnson, Joe Mansueto, Sean Parker, Eric Schmidt, Howard Schultz, Romesh Wadwhani, Jim Breyer, Ray Dalio, John Doerr, Henry Kravis, Michael Milken, Adebayo “Bayo” Ogunlesi, David Rubenstein, Byron Trott, Jeff Vinik, Meg Whitman, William M. Lewis, Jr., and members of the Koch, Pritzker, and Walton families.
The new fund will be led by Managing Partner J.D. Vance, who joined Revolution earlier this year and who is author of Hillbilly Elegy. Also on the investment team are partners David Hall and Anna Mason.