since I find Mr Geer's commentary among the most interesting and informed of all those on this list (very odd to even suspect him of trolling), I investigated what you wrote, and here's what I found.
your own quotation notes that IQT says "our model is unique." "unique" because they do not consider themselves a venture firm. that same paragraph (read whole thing at
https://www.iqt.org/about-iqt/) ends: "for each dollar that IQT invests in a company, the venture capital community invests more than nine dollars." clearly, IQT does not see itself as part of the VC community.
the reasons for this look relatively straightforward: IQT is a not-for-profit, and VC is built exclusively around making direct financial profit from its investment. a not-for-profit VC is almost a contradiction in terms, since "profit" and "venture" in this context mean almost the same thing.
Practically, VCs have, as a rule, a hands-off if perhaps mentorly relationship with their investments. that page makes clear that IQT gets directly involved with their partner companies, probably including technologists and technologies.