|September 4, 2014 | By admin|
AOL recently announced that it has appointed Susan Lyne to head The BBG Fund, a new venture fund focused on early stage investments in women-led consumer internet start-ups. The fund will make seed and Series A investments, with a focus on multiplatform media, services and commerce. This new initiative is part of a bigger initiative to bring more women to the tech industry by investing in women as builders.
Prior to this appointment, Lyne served as Executive Vice President and Chief Executive Officer of AOL’s Brand Group. She will report to AOL Chairman and CEO Tim Armstrong and will be based at the company’s headquarters in New York City. In her new role, Lyne hopes to educate girls and women about several options available to them and provide competitive entrepreneurial ideas. She said, “women are the majority of users on the fastest-growing sites and services on the internet. We believe we can get strong returns by focusing on entrepreneurs who know the customer best.”
According to Armstrong, “Susan has done an excellent job in her time at AOL at a board and operating level, and we are excited to be putting her vast skills and expertise to work to replicate this success at The BBG Fund.” He added that, “AOL has a strong track record of investing in women, women’s leadership, and we are adding to our investments in the most important space for women entrepreneurs.”
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