Baroda Ventures Funds Fabulis

Beverly Hills-based Baroda Ventures, the venture capital firm of GeoCities founder David Bohnett, has invested in gay social networking site Fabulis. Baroda Ventures Partner Peter Lee confirmed the investment in the New York company, which was worth $250,000. The deal was first reported by VentureBeat. Bohnett is well known for his activism in the gay and lesbian community, and through the The David Bohnett Foundation, has funded computer centers focused on the LGBT community. The investment in Fabulis was led by Bohnett, who made his fortune through founding Geocities, taking it to an IPO, and later selling it for $3.5 billion to Yahoo. More information »