Steve Case
About Steve Case
Steve Case co-founded AOL. He joined its predecessor, Quantum Computer Services, as a marketing vice-president in 1985 and became CEO in 1991. He oversaw the 2000 merger that created AOL Time Warner and stepped down as chairman in 2003.
In 2005 he founded Revolution, a Washington, D.C. investment firm, with Donn Davis and Tige Savage. Its funds include Revolution Ventures, Revolution Growth and the Rise of the Rest Seed Fund. He also chairs the Case Foundation and has written The Third Wave (2016) and The Rise of the Rest (2022).
PitchBook lists Case as an active individual investor with 91 investments, and Crunchbase lists 20 personal investments. Crunchbase's most recent personal investment is a post-IPO equity round in FiscalNote.
Much of his activity runs through Revolution. Crunchbase News reported that Case invested personally in Partpic before the Rise of the Rest fund existed. Amazon acquired Partpic in late 2016.
Catalyte was among the first Rise of the Rest Seed Fund investments in 2018. It uses AI to identify people with the aptitude to become software developers. A third-party guide from Rho lists Pryon and FiscalNote among his AI-related holdings, and Fortune lists Anduril as a Revolution portfolio company.
Case speaks publicly about AI. He told Skift his approach is to use AI on whatever it makes abundant and to invest in what it cannot replicate. He has also called for a federal AI disclosure law.
Revolution's Rise of the Rest Seed Fund is a $150 million fund launched in December 2017. It targets startups outside Silicon Valley, New York and Boston. Revolution Ventures focuses on early-stage, technology-enabled companies that could disrupt major industries. Case has said Revolution has made over 200 investments in 100 cities across 38 states.
Rho's guide says he typically invests at seed and Series A, with an interest in fintech, payments and AI, and gives a $100K to $5.0M range. That range is a third-party estimate, not a figure Case has stated himself. He has not published a personal angel check size.
- Catalyte: uses AI to identify software developer talent, a first Rise of the Rest Seed Fund investment in 2018.
- FiscalNote: policy and regulatory data company, listed as his latest personal investment on Crunchbase.
- Anduril: a Revolution portfolio company named in Fortune.
- Sweetgreen: salad restaurant chain, named as a Revolution investment.
- Zipcar, LivingSocial and DraftKings: named as notable Revolution investments.
- Partpic: acquired by Amazon in 2016, a personal investment made before the Rise of the Rest fund.
- FreightWaves: Chattanooga data and content company, cited by Case as a Rise of the Rest example.
- en.wikipedia.org/wiki/Steve_Case
- en.wikipedia.org/wiki/Revolution_LLC
- crunchbase.com/person/steve-case
- pitchbook.com/profiles/investor/106102-00
- rho.co/blog/angel-investors-for-ai
- revolution.com/press-release/revolutions-rise-rest-seed-fund-announces
- venturebeat.com/ai/steve-cases-rise-of-the-rest-fund-makes-first-inves
- news.crunchbase.com/venture/steve-case-encourages-more-revolution-outs
Investing activity
Steve Case is listed on Lounge as an angel investor. The deals desk records Series A and later AI rounds and seeds over $10M, so smaller checks may not show here yet.
Deals
Frequently asked questions about Steve Case
Does Steve Case invest in AI startups?
Yes. Revolution's early Rise of the Rest investments included Catalyte, which uses AI to find software developer talent. He also speaks publicly about investing in the AI era.
What stage does Steve Case invest in?
Revolution's funds cover seed, early-stage and growth equity. Rho's guide says he typically invests at seed and Series A.
What is Steve Case's check size?
He has not published a personal check size. Rho's guide gives a $100K to $5.0M range as a third-party estimate.
Does Steve Case invest outside Silicon Valley?
Yes. Rise of the Rest focuses on companies outside Silicon Valley, New York and Boston. Revolution has said 98.5 percent of its invested capital across its funds has gone to companies outside Silicon Valley.
How can founders pitch Steve Case?
Revolution's Rise of the Rest holds bus tours and pitch competitions in emerging startup cities. Founders can also contact Revolution through its website.
Is Steve Case an angel investor?
Yes. Steve Case invests personally as an angel.
How can founders reach Steve Case?
Founders on Lounge can see Steve Case's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with them under Warm Paths, and add Steve Case to their Investor Pipeline to track the conversation.