Venture philanthropy (VP) comes as an indirect way of dealing with corporate social responsibility issues, since it calls for providing financial and nonfinancial support to organizations with societal purpose (SPOs), in order to increase their societal impact. VP applies venture capital principles (such as long-term investment and hands-on support) to charitable giving (Grossman et al. 2013; John 2006), and it recommends high engagement, organizational capacity-building, tailored financing, nonfinancial support, involvement of networks, multiyear support, and performance measurement (EVPA 2013, 2016, 2018; John 2006; OECD 2014).
Rise of VP as an Unprecedented Grant-Making Model
Grant-making model known as “venture philanthropy” (VP) is one of the most prominent and most controversial innovations breaking away from the old-fashioned ways of giving (Defourny et al. 2007;...
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