An investment fund that manages the money of investors who seek private equity interest in startup and small-to medium-sized enterprises with strong growth potential. Investment is used specifically to fund growth in the Series A round of funding. Venture capital funds use a structured vehicle structure very similar to an SPV. In fact, an SPV and venture capital fund are nearly identical in structure and anatomy. One main difference between the two is that Venture capital funds are blind pool funds where an SPV is not. See also Venture Capital Fund (ERA).