Village Capital, a non-profit that sources, trains and invests in seed-stage entrepreneurs with business solutions to major global problems, has announced that 29 investors have committed a total of US$17.7 million into its investment arm, VilCap, effectively bringing the fund to a close.
Among the investors are Jean and Steve Case, Mitch Kapor and Freada Kapor Klein, Jim Sorenson and Bob Pattillo.
“These investors all recognize that making entrepreneurship more open, democratic, and accessible to founders everywhere will deliver better results,” Village Capital said in a statement.
Launched about 7 years ago, Village Capital aims to re-invent the way large societal problems are solved. It does this through a peer-selected investment process.
This investment process has been hailed by many as it puts the power over access to capital in the hands of entrepreneurs.
Since launch, the company has supported more than 500 entrepreneurs across 40 programs in ten countries.
“Creating this kind of transformative change doesn’t happen overnight. We’ve always prioritized investing for the long term, and investing in generational change includes building the best team possible,” it added.
Now that VilCap Investment has reach a final close, the company will aggressively pursue its vision, make its team and partners better and deliver long-term results.