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Philanthropic Venture Capital: Venture Capital for Social Entrepreneurs?

Author

Listed:
  • Scarlata, Mariarosa
  • Gil, Luisa Alemany
  • Zacharakis, Andrew

Abstract

Since social entrepreneurship is a relatively young activity, resourcerich actors, like Philanthropic VCs, have considerable influence over how the space matures (Nicholls, 2010b). The resources and strategic advice that PhVCs provide their SEs shape an institutional logic for the domain. As such, PhVCs enhance legitimacy of the emerging area of social entrepreneurship. This monograph's main contribution is to delineate the current state of PhVC, identifying differences with traditional VC financing, and identify areas of future research. In particular, this work responds to Nicholls (2010b) and Austin et al.'s (2006b) call for research on what types of finance SEs have access to. More specifically, we focus on understanding what PhVC is and how its social value creation investment logic makes it different from traditional VC, opening avenues for future research in this area.

Suggested Citation

  • Scarlata, Mariarosa & Gil, Luisa Alemany & Zacharakis, Andrew, 2012. "Philanthropic Venture Capital: Venture Capital for Social Entrepreneurs?," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 8(4), pages 279-342, September.
    • Handle: RePEc:now:fntent:0300000042
    DOI: 10.1561/0300000042
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    Citations

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    Cited by:

    1. Devine, Anthony & Jabbar, Abdul & Kimmitt, Jonathan & Apostolidis, Chrysostomos, 2021. "Conceptualising a social business blockchain: The coexistence of social and economic logics," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    2. Syrus M. Islam, 2022. "Impact investing in social sector organisations: a systematic review and research agenda," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 709-737, March.
    3. Hochstädter, Anna Katharina, 2017. "Impact measurement in venture philanthropy organizationsː A single case study," WiSo-HH Working Paper Series 42, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
    4. Lall, Saurabh Ajay, 2017. "Measuring to Improve Versus Measuring to Prove: Understanding the Adoption of Social Performance Measurement Practices in Nascent Social Enterprises," SocArXiv 8wa5c, Center for Open Science.
    5. Francesco Di Lorenzo & Mariarosa Scarlata, 2019. "Social Enterprises, Venture Philanthropy and the Alleviation of Income Inequality," Journal of Business Ethics, Springer, vol. 159(2), pages 307-323, October.
    6. Kai Hockerts & Lisa Hehenberger & Stefan Schaltegger & Vanina Farber, 2022. "Defining and Conceptualizing Impact Investing: Attractive Nuisance or Catalyst?," Journal of Business Ethics, Springer, vol. 179(4), pages 937-950, September.
    7. Mariarosa Scarlata & Jennifer Walske & Andrew Zacharakis, 2017. "Ingredients Matter: How the Human Capital of Philanthropic and Traditional Venture Capital Differs," Journal of Business Ethics, Springer, vol. 145(3), pages 623-635, October.

    More about this item

    Keywords

    Venture capital; Social entrepreneurship; Philanthropic venture capital;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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