Revolution Ventures, shaped by Steve Case's history as AOL's cofounder, focuses on backing startups outside Silicon Valley in cities across the rest of the country, arguing that Silicon Valley's share of U.S. venture activity is shrinking. Led by David Golden, a former investment banking co-director who helped pioneer OpenIPO, the firm has a track record of early bets on consumer and category-defining companies like LivingSocial, Zipcar, and Wagmo, as well as defense-tech company Anduril, while also showing interest in nontraditional financing paths like SPACs.