The second CrunchFund is reported to have a first close of $25 million. AOL has renewed its investment from the initial fund, but it’s not clear if the venture capitalists who participated in the original fund plan to return. Arrington declines to comment to Fortune magazine.
An SEC filing shows CrunchFund is in the market for a second fund. The document suggests a $40 million ceiling but CrunchFund is reported to target around $30 million.