Expensify Launches Venture Arm With Part of $17M New Round

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blogs.wsj.comOne company can’t pursue all of the good ideas in its industry, which is why Expensify Inc., developer of a mobile app for managing expense reports, is beginning to invest in other startups, company founder and Chief Executive David Barrett told VentureWire.

Large corporations have been running venture capital arms for decades, but startups are less likely to do so, both because of their more limited resources and avid pursuit of internal research and development. Still, in recent months there appears to be an uptick of such launches.

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