Cox And Its Board Member Tripp Rackley Launch $250M Fund To Build And Back Startups

Cox Enterprises is perhaps best known for its holdings in areas thought of as "old media" -- radio and TV stations and newspapers at Cox Media; cable and telephone services at Cox Communications -- but today it made a move to tap into the rise of disruptive technology and startup culture. It's launching a $250 million fund, which will be led by board member and serial entrepreneur Tripp Rackley, to "invest directly and exclusively in companies created by Rackley." The fund will be managed as its own business independent of Cox, the company said, and it will be the sole investor in any projects that come out of the fund. Potentially more money will be added to the pot over time, TechCrunch understands.

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