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SoFi plans to launch VC fund

Online personal finance company SoFi, which is viewed as a 2018 IPO candidate, is working to launch a strategic venture capital group, CEO Mike Cagney told Axios from the sidelines of the Fortune Brainstorm Tech conference in Aspen.

One big difference between this and most other corporate VC efforts, however, is that SoFi plans to solicit outside investor commitments (i.e., limited partners). The company itself would contribute a cornerstone commitment and serve as general partner.