Venture capitalists make lifetime philanthropy pledge Around Town, posted by Editor, Mountain View Voice Online, on Apr 30, 2012 at 2:19 pm
The six partners of the Menlo Park venture capital firm Andreessen Horowitz will give a $1 million "group donation" to six local nonprofits, the firm announced. The gift is part of a longer-term pledge by the six to donate at least half their venture capital income to philanthropy during their lifetimes.
Read the full story here Web Link posted Monday, April 30, 2012, 10:21 AM
Posted by Hardin, a resident of the Cuesta Park neighborhood, on Apr 30, 2012 at 10:29 pm
What's interesting is that local VC firms like Andreessen Horowitz serve as incubators for the next generation of innovation, by funding businesses in a competitive process.
We benefit not only from their success through charities, but through the innovation that is fostered and ultimately realized in new companies that thrive here in the valley, and bring jobs and tax dollars with them.