not that bad of an idea imho.
a VC fund with 100mil can fund 10,000 groups of kids this way. Gives kids new opportunities socially (reduces teen delinquency), and the VC could hope to recoup if/when one of them becomes unicorn status.
Whoever is in charge of this fund is responsible for dolling out 100mm of other people's money.
How in the world does this group of investors responsibly filter and vet 10,000 suitable companies in a time effective manner? How do you effectively keep track of the founders and the money?
Are checks being written to 20 year olds without much scrutiny in the hope that a unicorn shows up without any real statistical basis for expecting such an event? I'd steer clear of that fund.
Sounds like whoever solves this will go on to be a very successful VC. Perhaps an application for AI, or a crowd-sourcing model?