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The State of Venture Philanthropy and Social Investment (VP/SI) in Europe: The EVPA Survey 2015/2016November 3, 2016
Five years of data has allowed us to analyse interesting trends and evolutions in the VP/SI sector. Below we highlight the most striking ones:* Overall growth for the sector, 108 organisations allocated €6.5 billion between them since they began their operations, a 30% increase compared to Fiscal Year (FY) 2013. * Budgets remained stable. * The surveyed organisations invested an average of €7.8 million through VP/SI activities.* There is a sharp rise in co-investment between peers since FY 2013. 63% of respondents have co-invested in the past and 19% said they are interested in doing so, even if they have not co-invested yet. Of the respondents that answered both this and the last survey, the organisations that have co-invested increased from 69% to 80%. * Over FY 2015 a number of smaller players (with budgets under €2.5million) have entered the space. * VP/SI organisations have no shortage in investment opportunities and are improving their deal screening process. Over FY 2015, respondents screened 7,520 potential opportunities. On average, each VPO screened 86 organisations, did further due diligence on 17 of them, and selected 9 investees.
This publication combines the learnings and experiences of practitioners across Europe and the results of several years of EVPA research, giving you access to everything you need to know about setting up and running a VP organisation or social impact investment fund. This Guide is useful for anyone wanting to understand the venture philanthropy approach, and/or start their own venture philanthropy or social impact investment fund.
This guide is targeted specifically at venture philanthropy (VP) and social investment (SI) practitioners, and more broadly at other social sector funders such as foundations, grantmaking organisations and impact investors who may benefit from understanding the value of the highly engaged approach of venture philanthropy. We use the term venture philanthropy organisations ("VPOs") or "investors" to refer to such social sector funders. Venture Philanthropy works to build stronger social purpose organisations (SPOs) by providing both tailored financing (using the whole spectrum of financing instruments, from grants to debt, equity and hybrid financing) and non-financial support. This manual focuses specifically on non-financial support, which we define as the support services VPOs offer to investees (SPOs) to increase their societal impact, organisational resilience and financial sustainability, i.e. the three core areas of development of the SPO.Social impactThe social change on the target population resulting from an SPO's actions.Financial sustainability The assessment that an SPO will have sufficient resources to continue pursuing its social mission, whether they come from other funders or from own revenue-generating activities.Organisational resilience The assessment of the degree of maturity of an SPO, in terms of the degree of development of the management team and organisation (governance, fund-raising capacity etc.).
A five-step toolkit to measure the impact of a social investment made by a Venture Philanthropy project or organisation, and to manage it for more efficiency.For more information: http://evpa.eu.com/publication/guide-pratique-pour-la-mesure-et-la-gestion-de-limpact/
EVPA (European Venture Philanthropy Association) has collected the experiences and lessons from twelve of its member organisations with a view to sharing their learnings from failure with other practitioners. The report looks at strategies and investments that failed and the reasons they did so. Outlining risk mitigation strategies, the report focuses on overcoming risk in the strategy of the venture philanthropy and/or social investment organisation and in the execution of specific investments.
The first objective of this manual is to provide Venture Philanthropy/Social Investment practitioners with an important tool to assist them in their daily activities and thus enhance the effectiveness of their work. The second objective is to increase the transparency and accountability of the Venture Philanthropy/Social Investment sector. This manual should be useful for both experienced Venture Philanthropy Organisations that want to reflect on how to exit their investments while maximising and sustaining the impact achieved, and for organisations approaching VP, which can learn from the experience of VP/SI practitioners.
The Practical Guide is a comprehensive resource that distills best practice in impact measurement into five easy-to-understand steps and provides practical tips and recommendations for how to implement impact measurement at the level of the social investor and in the social sector organisations that they support.
This is the second edition of a working paper that was first published in 2008. Its goal is to assist start-up or early-stage Venture Philanthropy organisations (VPOs) in Europe by providing an insight into "what works" in a European context. It provides a definition of VP, an account for its evolution and latest developments, and a practical guide to how to set up and run a VP organisation. The new edition takes into account the enhanced experience of existing VPOs, the emergence of new VPOs or new financing instruments and the changes in the financial and economic climates in Europe and around the globe in the past years.
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