I got a note from someone who "helps lead the internet and Media efforts" at a fairly well known venture firm.

Chen already had two other venture firms ready to give him the million dollars he needed.

A second $1 million raised for the effort will soon be invested in funds run by local and other venture firms.

Millennium 3 was a venture firm specializing in early stage companies.

A lot of the new venture firms are led by former entrepreneurs.

Europe has a large and growing number of active venture firms.

These advisers have already forced some venture firms to reduce their fees.

Just because the funds say they aim to do good does not mean their standards are lower than those of traditional venture firms.

Their study put contributions to 100 venture firms at $12.4 billion, up 85 percent from last year's first quarter.

During this period, the number of venture firms also increased.