Michael Arrington, the founder of TechCrunch, starts Venture Capital Fund

The Associated Press has recently announced that Michael Arrington, the founder of the very popular tech blog, TechCrunch, has taken the decision of starting a venture capital firm. This venture capital fund will have an initial capital of $20 million, money which the founder intends to use in order to support other entrepreneurs start-up businesses such as TechCrunch, meaning blogs which cover the same type of subjects as the ones we are used to see on TechCruch.

The venture capital firm will receive funds from investors such as the tech company AOL Inc., company which has purchased TechCrunch last year for an amount which has remained undisclosed to the public, and from some important venture capital firms, among which we can name Greylock Partners, Kleiner Perkins Caufield & Byers and Sequoia Capital.

At the moment, the new venture capital firm is going to be leaded by Michael Arrington, the founder of TechCrunch, and Patrick Gallagher, one of the partners at VantagePoint Capital Partners.

The media reports released up to this moment mention that Michael Arrington will no longer be an editor at TechCrunch, but the fact is that his involvement in the further evolution of the site continues to remain unknown for the public. This happens despite the fact that numerous requests have been sent to AOL since Friday in order to find the answer to this question, none of which have been answered.