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Steve Case's Rise of the Rest takes $150 million fund to US Heartland - Business Insider

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AOL cofounder SteveCase has bet more than $300 million that the future of startups isn't in Silicon Valley, and now his team is headed to Kansas, Oklahoma, Arkansas, and Missouri

since 2014. He and his team have been operating on the premise that there is huge potential outside of where, traditionally, 75% of all venture capital has gone: Silicon Valley, New York City, and Boston.

Revolution raised its first $150 million Rise of the Rest Seed Fund to accompany the trips and their underlying thesis, in 2017. It raised a second $150 seed fund last fall and has limited partners like Amazon CEO Jeff Bezos, Bridgewater founder Ray Dalio, and Quibi CEO Meg Whitman. We asked the Rise of the Rest crew why it chose the heartland as its the next destination, and a spokesperson sent us the following, a collection of insights from the investment team."In addition Wichita's rich history of entrepreneurship through the founding of companies like Koch Industries, Pizza Hut, and Rent-A-Center, there's a lot of momentum in the local startup community in regard to talent.

 

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SteveCase Great, exciting news for Tulsa and our city! Would love to do a FaceTime or Skype interview with you to talk about the Rise Of The Rest road trip and share it with our viewers.

SteveCase This sounds like Andrew Yang's previous venture but SteveCase hasn't come to the conclusion that the start ups will eventually pick up and move to Boston, Silicon Valley, NYC, and Austin at some point, just like Yang did.

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