A new RSS focused VC fund announced: But check fine print

A new venture capital firm, RSS Investors, has announced it is looking to raise $100 Million technology fund to focus on investing in new kinds of businesses — to exploit new opportunities allowed by the growing acceptance of RSS.

There’s already been some coverage, and much of it assumes the whole $100 million has been raised — and we can see why people would think that from the press release headline, which says a $100M fund has been created.

But we checked in with Jim Moore, one of the partners there (and we’ll blog it later this evening; he’s full of ideas). But for the record: He said that only $20 million has been raised so far, from a single investor, Ritchie Capital Management. One of Ritchie’s partners, Tim Crowley, will also be a partner in the RSS Investor fund. So the target is $100 million. No other commitments yet.

We’ll write more later.

Updated to correct a typo, and to provide this deeper post.