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Current state and latest development of social venture capital in Europe

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  • Kristofik Peter

    (University Matej Bel, Banska Bystrica, Slovakia)

Abstract

The article aims at providing characterisation of social venture capital in Europe. The introductory part of the contribution deals with its origins and classification. The attention is devoted to various factors that have led to emergence of SVC such as existence of market gap, global crisis, monetary policy, disintermediation and financial innovations. The article also emphasises the fact that there is no unified market and, moreover, that the boundaries between social institution and traditional investors are becoming blurry. The main contribution of this article is to characterise the current state and to describe the latest development of SVC in Europe. The focus of analysis was aimed at defining the investment focus, priorities and resources of SVC. Western Europe is the main target region of SVC during all examined period, followed by Africa and Asia. In all years, top financial beneficiaries are people suffering from poverty followed by children and youth. Amongst the top five targeted beneficiaries are also people with disabilities, unemployed people and women. Whilst trend in geographical focus and financial beneficiaries is stable, focus in investment sector changes over time. Financial inclusion alongside with economic and social development currently represents top sectors that attract more than half of total investments in 2017–2018. At the same time, SVC is becoming more attractive to investors in Europe what confirms the fact that the number of organisation is rising alongside with their budgets.

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Handle: RePEc:vrs:wsbjbf:v:53:y:2019:i:2:p:44-54:n:1005
DOI: 10.2478/wsbjbf-2019-0021
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References listed on IDEAS

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  1. Jeffrey Robinson, 2006. "Navigating Social and Institutional Barriers to Markets: How Social Entrepreneurs Identify and Evaluate Opportunities," Palgrave Macmillan Books, in: Johanna Mair & Jeffrey Robinson & Kai Hockerts (ed.), Social Entrepreneurship, chapter 7, pages 95-120, Palgrave Macmillan.
  2. Joern H. Block & Massimo G. Colombo & Douglas J. Cumming & Silvio Vismara, 2018. "New players in entrepreneurial finance and why they are there," Small Business Economics, Springer, vol. 50(2), pages 239-250, February.
  3. Alex Nicholls, 2010. "The Legitimacy of Social Entrepreneurship: Reflexive Isomorphism in a Pre–Paradigmatic Field," Entrepreneurship Theory and Practice, , vol. 34(4), pages 611-633, July.
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