Gary Vaynerchuk, the well-known entrepreneur, is launching a $25 million seed fund, which is backed by Miami Dolphins owner Stephen Ross.
In an interview, Vaynerchuk said it was not a “pure investment play,” but will focus on operating and incubating startups in what he is calling the Vayner/RSE joint fund. He said that as part of the transaction, RSE will become a minority shareholder of VaynerMedia, his digital media company that focuses on helping large corporations with their Internet strategy.
Vaynerchuk is already an active angel investor in a wide range of companies, most recently Medium. Among his many efforts, he created WineLibrary.com and is the author of “The Thank You Economy” and others.
Vaynerchuk’s partners in the new fund include his brother AJ and also Matt Higgins.
This article originally appeared on Recode.net.