It's like a very hands on incubator where the VCs are basically providing human resources and are invested in getting the start-up off the ground and moving by providing exactly what the start-ups need.

Instead of giving start-ups cash to hire, they provide the expertise as needed. Marketing gurus, tech gurus, generalists, etc... It can save money and time, especially if the VCs have good technical leaders that have lots of experience building products efficiently.