They are involved in deal flow, CEO selection, strategic planning, etc. Foundations tend to keep their distance in their relationship with grantees. In addition, they tend to be totally uninvolved in operations. Amount of Funding VC firms fund few deals but they put enough money in chosen deals to make a difference. They will also help with subsequent funding needs.
Foundations fund a small part of each deal.
They tend to undercapitalize and seldom help with subsequent funding needs. Length of Relationship VC firms will stay involved over a number of years, and this is known to all participants. Foundations seldom stay involved for more than two or three years. Exit Strategy VC firms have an exit strategy identified at the point of entry. Often the exit is made possible by another VC firm.