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Did you read the linked TechCrunch article and how some of the VCs mentioned wanted to help some demographics etc.?

Yes, I did. But that does not mean they will invest in startups which they believe will bring negative returns or that don't otherwise suit their portfolio.

It's not their private capital - most VCs are investing the funds of 'limited partners' such as pension funds, university endowments, etc. So in essence VCs are gatekeepers which make decisions regarding startups who will or wil not get access to someone else's money.

Pension funds are not allowed to invest in VC.

But anyway, it does not change the fact that it’s not public money, it’s money belonging to someone and that someone trusted VC to make decisions be motivated by capital gain not by social justice and fairness.

I think the comment you replied to was probably framed from different perspectives:

Parent assumes "we should do what is best for the common good"

Your reply assumes "we should do whatever best protects individual liberties"