Scoop: New Rev1-backed angel fund launches in Columbus

How it works: Rev 1 Ventures will manage the fund, which will invest in "high potential" early and seed-stage software and advanced technology companies.

Between the lines: One of 71/70's investors is Phil George, founder and CEO of Columbus-based mentoring software company MentorcliQ.

• "I was drawn to 71/70 Angels as an investor because I know firsthand how difficult it is to raise capital in the early stages, especially in the Midwest."

Yes, but: Dollar figures and a full list of investors are not public.

What they're saying: Melinda Gloriosa, managing director of both 71/70 and Rev1, says in a release that funding rounds are "difficult in the current venture capital environment," and hopes the fund can "help the startups it invests in increase their probability of success."

Fun fact: The fund gets its name from the interchange of I-70 and I-71.