Like traditional venture capitalists, they invest to make money. But unlike professionally managed venture capital funds, they invest their own money instead of money others have placed in their care. Usually, the money they invest is money they made by selling a company they started and made grow.
Adventure capitalists fund new enterprises for a combination of reasons.
They know that a wise investment can be very profitable. They believe their experiences as entrepreneurs help them to identify attractive deals. For many adventure capitalists, this last reason is the telling motivation. The exhilaration they experienced when starting their business may be waning. They may operate a public company that is long past its start-up stage or run a division of a large company that acquired their business.