Abstract

http://ssrn.com/abstract=1099277
 
 

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Philanthropic Venture Capital: Can the Key Elements of Venture Capital Be Applied Successfully to Social Enterprises?


Mariarosa Scarlata


University of Surrey - Surrey Business School; ESADE Business School; London School of Economics & Political Science (LSE); Newcastle University (UK) - Business School

Luisa Alemany


ESADE Business School

February 28, 2008


Abstract:     
This paper examines how the venture capital (VC) model is applied to philanthropic venture capital (PhVC). The key aims of the paper are a) to define PhVC and, by transposing its key elements, i.e., "capital" and "advice and engagement", to provide a clear and precise definition of philanthropic venture capitalists (PhVCs); b) to formulate four main hypotheses aiming to test whether, how, and to what extent the typical for-profit VC model, as described by Gompers and Lerner (2001), can be considered as applied to PhVC as well. By analyzing secondary sources we report preliminary results which show that in the screening phase of PhVC investments and during monitoring activities, PhVCs behave like their for-profit counterparts, i.e., the venture capitalists.

Number of Pages in PDF File: 23

Keywords: Venture Capital, Venture Philanthropy, Social Entrepreneurship

JEL Classification: G24, M13

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Date posted: February 28, 2008  

Suggested Citation

Scarlata, Mariarosa and Alemany, Luisa, Philanthropic Venture Capital: Can the Key Elements of Venture Capital Be Applied Successfully to Social Enterprises? (February 28, 2008). Available at SSRN: http://ssrn.com/abstract=1099277 or http://dx.doi.org/10.2139/ssrn.1099277

Contact Information

Mariarosa Scarlata (Contact Author)
University of Surrey - Surrey Business School ( email )
Guildford, Surrey GU2 8DN
United Kingdom
ESADE Business School ( email )
Av. de Pedralbes, 60-62
Barcelona, 08034
Spain
London School of Economics & Political Science (LSE) ( email )
Houghton Street
London, WC2A 2AE
United Kingdom
Newcastle University (UK) - Business School ( email )
5 Barrack Road
Newcastle upon Tyne, NE1 4SE
United Kingdom
Luisa Alemany
ESADE Business School ( email )
Av. de Pedralbes, 60-62
Barcelona, 08034
Spain
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