BBG Ventures, a New York-based, early stage  venture capital firm, backed with $10 million from AOL,  that invests in women-lead tech start-ups, has made investments in 12 start-ups.  Headed by media industry luminary Susan Lyne, BBG makes seed investments of generally less that $250,000.  The fund was launched in September.

We spoke with Lyne about the fund.  She says her group has evaluated over 400 women-lead start-ups.   Of the 12 portfolio companies, she says at least two are near Series A venture rounds.

Today at TechCrunch Disrupt conference in New York, Lyne will judge the Start-up Battlefield.

We taped her for the Beet.TV series the Media Revolutionaries sponsored by Xaxis and Microsoft.  An extended segment from the session will be published at a later date.  Interviewing Lyne is David J. Moore, CEO of Xaxis and President of WPP.  Moore is serving as executive producer of the series.