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A stage model of venture philanthropy

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  • Jillian Gordon

Abstract

This paper explores the practices of venture philanthropy (VP). A stage model is developed from an inductive analysis of high net worth entrepreneurs who are engaged in VP. The study used a qualitative case study research strategy. Informant interviews were conducted with three main groups: the principal philanthropists, foundation philanthropy teams and leaders of investee organisations in receipt of funding. The findings suggest a model of VP with eight distinct stages including deal sourcing, relationship building, screening and information gathering, co-creation, early decision-making, circular reasoning, deal structuring, post-investment after care, disengagement and return. Comparisons with venture capital (VC), developmental VC and business angel investment are drawn and distinct similarities and differences are highlighted. This suggests that VP is a hybrid model that incorporates elements of all three types of approaches.

Suggested Citation

  • Jillian Gordon, 2014. "A stage model of venture philanthropy," Venture Capital, Taylor & Francis Journals, vol. 16(2), pages 85-107, April.
    • Handle: RePEc:taf:veecee:v:16:y:2014:i:2:p:85-107
    DOI: 10.1080/13691066.2014.897014
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    References listed on IDEAS

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    1. J. Gregory Dees, 2008. "Philanthropy and Enterprise: Harnessing the Power of Business and Social Entrepreneurship for Development," Innovations: Technology, Governance, Globalization, MIT Press, vol. 3(3), pages 119-132, July.
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    Cited by:

    1. Susana Bernardino & J. Freitas Santos, 2015. "Financing social ventures by crowdfunding: the influence of entrepreneurs’ personality traits," NIPE Working Papers 12/2015, NIPE - Universidade do Minho.
    2. Guido Giovando & Alessia Mangialardo & Enrico Sorano & Alberto Sardi, 2021. "Impact Assessment in Not-for-Profit Organizations: The Case of a Foundation for the Development of the Territory," Sustainability, MDPI, vol. 13(17), pages 1-12, August.
    3. Block, Joern H. & Hirschmann, Mirko & Fisch, Christian, 2021. "Which criteria matter when impact investors screen social enterprises?," Journal of Corporate Finance, Elsevier, vol. 66(C).
    4. Andrikopoulos, Andreas, 2020. "Delineating social finance," International Review of Financial Analysis, Elsevier, vol. 70(C).

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