Steve Case’s Revolution Ventures Raising $150M For New Early-Stage VC Fund

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Revolution Ventures, the early-stage, technology-focused venture capital arm of Revolution LLC, the investment firm headed up by Aol founder Steve Case, is looking to raise $150 million for its second fund, according to a new regulatory filing issued today with the U.S. Securities and Exchange Commission.

The filing indicates that the new fund will be called “Revolution Ventures II” and that no money has yet been committed to the raise. However, a report published this morning in the Wall Street Journal cites “a source familiar” to the fundraising who says that the new fund “has attracted around $125 million in commitments so far” and is expected to close later this year.

We’ve reached out to Revolution for more details, and will report back with anything we hear. On-the-record discussion about active fundraising is not typically done, however, due to the laws against “general solicitation.”

Revolution Ventures focuses on early-stage tech companies, and typically invests less than $10 million at a time. The firm says it concentrates on “mass market” fields, such as consumer technology, media and the like. Living Social and Zipcar are a couple of Revolution Ventures’ past high-profile bets.