Venture philanthropy
Venture philanthropy
Development, evolution, and scaling around the world
This chapter starts by defining this term and constituent elements and phases, then traces its development starting in the USA and the moving to Europe and, more recently, to Asia. These historical analyses demonstrate both how the field of ‘engaged’ philanthropy has changed over time, but also how important different socio-cultural contexts and traditions have been in its development. The chapter makes a clear connection with the work on ‘philanthrocapitalism’ earlier in the book. After the historical landscape analysis, the chapter goes on to discuss some of the criticisms that have been levelled at venture philanthropy. It concludes by raising the key question of whether venture philanthropy will become the norm for grant-making or will remain an ‘outsider’ activity within the sector.
Keywords: history of venture philanthropy, grant-making, philanthrocapitalism, engaged philanthropy, concepts of venture philanthropy, critique of venture philanthropy
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