Earlier quoted context omitted.
It's not really. Communism is just the super monopoly on everything by one firm (plus a bunch of kooky religious like beliefs). This subset of VC funding uses is basically abusing external funding to gain market dominance so that one can abuse your customers with product changes that make the product more profitable for you. It's very equivalent to how an oligopolist/monopolist enters new markets using money from the…
Private VCs using their money to control the economy doesn't really sound much like a "system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs". Private capitalists controlling the economy is practically the definition of capitalism. And it's bad for society indeed.
That is not the definition of capitalism. The definition of capitalism is a system in which owners of capital control their capital in accord with their interests, which translates into competition because everyone else is also controlling their own capital and labor for their own interests. The natural outcome of this system is monopoly, which does closely resemble all the harms and dead weight loss of communism but, unlike under communism, the government is supposed to be there to stop total control, bust up the monopolies, and restore competition. It did a passable job of this until the Rehnquist supreme court in the 70s and it's time to start back in that pre-rehnquist direction. It's never time for communism.