Michael Arrington, the founder of the technology-focused business website TechCrunch, has resigned as editor of the AOL-owned site in order to found his own venture capital (VC) fund, to be known as CrunchFund, in conjunction with Patrick Gallagher, a partner at VantagePoint Capital Partners.
Crunchfund closed its initial financing at $20m, with AOL Ventures as the largest single backer, investing $10m, according to the Guardian newspaper. Also making investments of $1m each are VC firms Accel Partners, Austin Ventures,…
