AOL’s co-founder Steve Case is searching for the next big investment in places where venture capitalists by and large ignore. In his 35-ft big red bus, Case is scouring the middle of the U.S. with his $150 million “Rise of the Rest” fund, a money stream meant to flow to entrepreneurs in small to mid-size cities like Indianapolis, Detroit, and Birmingham. The goal is to jump start local economies, giving entrepreneurs often overlooked by traditional investors a shot at capital. Case has visited 38 cities and 26 states so far.
