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Why the VC Game Is Attracting a Whole New Set of Players Corporations, cities and special groups have jumped into equity financing.

By Michelle Goodman

This story appears in the December 2015 issue of Entrepreneur. Subscribe »

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This article is part of our Trends 2016 coverage.

Earlier this year, Boston-based 3-D printing company Voxel8 raised $12 million in Series A funding. Among the windfall were contributions from Autodesk's Spark Investment Fund -- the software company's $100 million 3-D printing investment initiative -- and In-Q-Tel, the CIA's venture fund for intelligence-related innovations.

Wireless intercom company Nucleus scored more than $1.6 million in seed investments this year, $100,000 of which came from Philadelphia's $6 million StartUp PHL fund, which makes equity investments in local entrepreneurs. And Back to the Roots, a San Francisco-area sustainable-food company, raised $650,000 two years ago from Fund Good Jobs, a $2.53 million philanthropic venture fund focused on job creation.

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