Here’s a new kind of venture capital, funded by donations more than by investors, looking to spur development in economically challenged areas.
I heard about it yesterday in The New York Times‘ Shifting Careers feature, headlined Venture Financing With a Mission Beyond Profit. Here’s a bit of it:
“But unlike a venture firm, Jumpstart relies on charitable donations, many of them from the private sector, for its financing and does not return a share of profits to those who provide the investment dollars. The return comes as satisfaction for elevating a region’s economic standing.
It’s an interesting new idea. The story features one organization called Jumpstart in Cleveland and cites several others.
This entry was posted on Friday, July 25th, 2008 at 5:04 am and is filed under angel investment, venture capital. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.Leave a Reply
