AOLTW funds disadvantaged firms; hires two VPs
AOL Time Warner Inc. set up a fund that will invest about $100 million in three years in minority- and women-owned or managed businesses. The new fund will be headed by Rachel S. Lam, new VP of the company's investments unit.
Criteria of the AOL Time Warner Opportunity Investment Fund include significant diversity in senior management, a target of underserved markets and operations that fit with AOL's businesses.
Likewise, says Executive VP of Strategy and Investments Dolf Dibiasio, recipients must meet AOL's return-on-investment criteria, have solid, long-range business plans and demonstrate a capacity toward profitability.
Investments will range between $2 million and $10 million, but the company will consider larger and smaller ones.
AOL Time Warner also appointed Patricia Fili-Krushel executive VP of Human Resources. Fili-Krushel comes from WebMD Health and was president of the ABC TV network.