A new investment fund is bringing Silicon Valley’s problem-solving hacker ethos to US immigration law, looking to tackle the problem of potential entrepreneurs held back by a visa regime that has long frustrated the technology industry.
The fund, named Unshackled, and backed by co-founders of Yahoo and Palantir, has raised $3.5m to give early stage funding to foreigners working in the US who want to quit their job and launch a start-up but cannot because they need an employer to sponsor their visa.
Unlike traditional venture funds, which invest capital in exchange for equity, Unshackled will take equity but also hire founders as employees, allowing them to keep their work visas while building their companies.
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