money

Silicon Valley has come up with its own spin on the donor-advised fund. Palo Alto–based Legacy Venture, a fund-of-funds with $1 billion under management, channels investor dollars into Silicon Valley’s top venture-capital funds. Then, in a bit of one-stop shopping for the charity-minded, it funnels both the investor’s original capital along with any profits earned into the causes and charities that make his or her heart beat faster. Since investors are investing through their family foundation or an existing donor-advised fund, they get to keep the tax write-off.