Possible Henrico abduction: Woman asked driver for help
Megan Metzger case: 3 suspects arrested
Son dies, father hospitalized after falling into Lake Anna
TRACK RAIN: Use CBS 6 Interactive Radar

Capital One shows increased appetite for funding local startups

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Last year’s Lighthouse Labs class at Capital One’s offices.

RICHMOND, Va. — One of the giants of Richmond finance has made another investment in the Richmond startup scene.

Capital One is contributing a $100,000 grant to Lighthouse Labs, a locally based nonprofit startup accelerator program that nurtures a class of entrepreneurs for three months each year.

Now in its fifth year, the program provides startups with no-strings-attached funding, office space, business classes and mentorship. Each participant company last year received $20,000 without giving up equity.

It’s the fourth year Capital One has helped fund Lighthouse Labs, and the second consecutive year it put up $100,000. The nonprofit’s other big local donors include tobacco giant Altria Group, which gave it $125,000 last year.

Capital One has shown an increased appetite for funding local startups. Earlier this year it paid $1.84 million for 1717 E. Cary St., a five-story, 36,000-square-foot Shockoe Bottom building where the Startup Virginia incubator is taking shape.

Continue reading on RichmondBizSense.com.