Michael Arrington, founder of TechCrunch, a blog that covers Silicon Valley, has set up a venture capital fund to invest in start-ups, The Wall Street Journal reports. Arrington is resigning as managing editor of TechCrunch and will lead the $20 million CrunchFund with partner Patrick Gallagher, who has been a partner at VantagePoint Capital Partners since 2008. Online company AOL, which acquired TechCrunch in September 2010, is also a partner in the fund. Other investors include Austin Ventures, Kleiner Perkins Caufield & Byers, Greylock Partners and Redpoint Ventures.
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