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VC fund aimed at firms run by women.(iNetworks L.L.C.)(Brief Article)
Venture capital firms trying to specialize in women- and minority-owned businesses have always run into a conundrum: If the businesses get a lot of funding, their majority owners become their venture backers, not the women or minority entrepreneurs who started them.
Pittsburgh-based iNetworks LLC thinks it has found a way around that dilemma. Its iNetworks New Opportunity Technology Fund will invest in companies managed by minorities or women, not necessarily companies owned by them.
"Then you've got a diversity that brings tremendous strength to the management and allows companies to be funded in traditional venture-capital fashion," said Charlie Schliebs, a managing director of iNetworks.
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