Most of the finances for Venter's version of the human genome project came from sales and royalties of "Big Dye", which is a component of the first automated sequencing method. He also got some revenue from the NIH, although that partnership turned sour according to his autobiography.
The sequencing business has changed a lot since the Big Dye method, and he recently downsized his institute and laid off nearly half his staff. We interviewed many of them (they were all looking for jobs in the area at the same time), and they had horror stories.
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