You said: "There are many existing projects like this", directly followed by "That's kind of the point, there are none." when asked for an example. Which one is it?

It's seems like a pretty thankless fundraising job but one where having connections to companies, banks and experience with distributing funds comes in handy. What's in it for a VC? I'd assume incoming deal flow and connections to new open source companies.

Seems more promising to me than a technical open source maintainer stepping up to do it on the side. But time will tell.