Joined-up funding
Ashley Metz Cummings and Lisa Hehenberger share four case studies of how foundations can use venture philanthropy and what this means for investees.
Venture philanthropy (VP), is a form of philanthropy that works to build stronger social purpose organisations (SPO)1 by providing them with both financial and non-financial support in order to increase their social impact. The concept itself has existed in various shapes since the birth of philanthropic giving. Foundations and individual philanthropists throughout history have used techniques now identified under this term, the definition of which continues to evolve. Venture capitalists and others from the business world have brought along skills and techniques, contributing to the development of new models and using the term ‘venture philanthropy’ to describe them. The VP model is particularly appropriate for organisations undergoing rapid growth and development. Venture philanthropists recognise that many SPOs lack the internal capacity, particularly the appropriate business skills and growth capital, to grow significantly the scale of their social missions, reach new markets or be competitive when bidding for government contracts.
Author: Lisa Hehenberger
Lisa Hehenberger is the research director of EVPA.
She has written her doctoral dissertation at IESE Business School on venture philanthropy and has presented several papers at academic conferences.
Prior to her academic career, she worked in investment banking in London, Madrid and Barcelona.
Lisa has a PhD in management from IESE Business School and a master’s degree in business and economics from Stockholm School of Economics and HEC (CEMS).
Author: Ashley Metz Cummings
Ashley Metz Cummings is a research consultant at EVPA.
She has a background in non profit management and web-enabled education and now works as a consultant.
Her research has focused on the areas of inclusive business, social business strategy and venture philanthropy.
She has a BA in English literature and creative writing from Northwestern University and an MBA from IESE Business School.
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