According to the News and Observer, Durham-based TruePilot has allied itself with Lycos Ventures, a $75 million venture capital fund based in Pittsburgh, PA. TruePilot, founded in May 2000 by OpenSite Technologies founder Michael Brader-Araje, is an early-stage investment firm that invests primarily in entrepreneurial Internet and wireless infrastructure companies. TruePilot's deal with Lycos, which is part of Lycos Venture's Regional Entrepreneurship Partner (REP) Program, promotes interaction between Lycos Ventures and early-stage local partner investors in key technology development areas across the United States. Walker Ventures of Washington D.C. also joined Lycos REP Program.
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