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Patrick Gallagher

Patrick Gallagher2 posts
7 May, 2013

Earns 20%-30% from over 80 investments

The fund has deployed just over half its capital, and the internal rate of return (IRR) is 20%-30%. It is reported to be in the very early stage of pre-marketing for a second fund, having reached out to just a few of its 61 limited partners, including AOL. Armstrong is due to sit down with Gallagher later in the month.


Starts CrunchFund


michael-arrington-starts-crunchfundArrington starts the fund with $20 million. He will run it with Gallagher and Siegler. Arrington:

I don’t claim to be a journalist. I hold myself to higher standards of transparency and disclosure.

He will take a reduced role at TechCrunch but continue to report to Huffington. Investments will be disclosed on the blog. AOL is putting about $10 million into the fund. Armstrong:

We have a traditional understanding of journalism with the exception of TechCrunch, which is different but is transparent about it.

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