Case’s Revolution Fund Invests in Supplier of Children’s Lunches

By William Alden

Stephen M. Case, the investor and co-founder of AOL, is tak­ing an increas­ing inter­est in the food business.

The Rev­o­lu­tion Growth fund, which Mr. Case start­ed with two for­mer AOL col­leagues, is expect­ed to announce on Wednes­day that it has invest­ed in Rev­o­lu­tion Foods, an Oak­land, Calif., com­pa­ny that makes health­i­er lunch meals for chil­dren. The invest­ment is worth $30 mil­lion, accord­ing to a per­son briefed on the mat­ter but not autho­rized to dis­cuss it publicly.

It is the sec­ond food-relat­ed deal for Mr. Case’s fund, which invest­ed in Sweet­green, a “farm-to-table” sal­ad chain, late last year. While the fund is bet­ter known for back­ing tech­nol­o­gy com­pa­nies, Mr. Case said that the food busi­ness — whether it’s school lunch­es or restau­rant sal­ads — was “ripe for disruption.”

“Food is a big part of our lives, and health­i­er options are going to become increas­ing­ly impor­tant,” said Mr. Case, who is join­ing the board of Rev­o­lu­tion Foods as part of the investment

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