December 16, 2015 | Entrepreneur Magazine by Michelle Goodman
Earlier this year, Boston-based 3-D printing company Voxel8 raised $12 million in Series A funding. Among the windfall were contributions from Autodesk’s Spark Investment Fund — the software company’s $100 million 3-D printing investment initiative — and In-Q-Tel, the CIA’s venture fund for intelligence-related innovations.
Wireless intercom company Nucleus scored more than $1.6 million in seed investments this year, $100,000 of which came from Philadelphia’s $6 million StartUp PHL fund, which makes equity investments in local entrepreneurs. And Back to the Roots, a San Francisco-area sustainable-food company, raised $650,000 two years ago from Fund Good Jobs, a $2.53 million philanthropic venture fund focused on job creation.
These unconventional VC groups aren’t anomalies. In recent years, corporations, municipalities, university alumni groups and philanthropic groups with agendas beyond reaping financial rewards have jumped into the equity financing game.