Nonprofit puts VC model to work for its fundraising - San Francisco - MSNBC.com

Nonprofit puts VC model to work for its fundraising - San Francisco - MSNBC.com: "Nonprofit puts VC model to work for its fundraising

By Sarah Duxbury
San Francisco Business Times
Updated: 8:00 p.m. ET June 18, 2006

Taking a page from business, a San Francisco nonprofit angling to grow has raised $1.5 million in a venture-style funding round. It plans to raise an additional $3 million in the next six months.

YouthNoise, a social networking site for civic-minded young people, pursued the unusual funding model at the suggestion of its lead funder, Omidyar Networks."