Unless they use revenue-based financing, a VC wouldn't invest in co-ops. As you point out, their need for an exit strategy that revolves around an increase in the price of equity doesn't align well with co-ops striving for building longer-term wealth for their community. That's why we see co-ops funded through loan funds, angel investment, and a new breed of equity funds trying to fill the gap, like The Equitable Economy Fund (https://www.equitablefund.net/)