EVPA Directory 2010 111

EuropEan
VEnturE
philanthropy
DirEctory
2010/11
EVPA is generously supported by:

European
Venture
Philanthropy
Directory
2010/11
Published by the European Venture Philanthropy Association
This edition October 2010
Copyright © 2010 European Venture Philanthropy Association
ISBN: 0-9553659-8-8
Email : info@evpa.eu.com
Website : evpa.eu.com
Design and typesetting: Transform (transform.uk.com)

Printed and bound by: Warwick Printing (warwickprinting.co.uk)
EVPA is generously sponsored by
Published with the support of the King Baudouin Foundation

and the Belgian National Lottery
About this Directory
The European Venture Philanthropy Directory includes profiles of current full, associate and
honorary members. It is intended to be a useful reference for grant-makers, grant-seekers,
social investors, service providers, academics and private banks, as well as any others
interested in the area. The introductory pages include information about EVPA and its first
impact report which reviews the last five years.
The directory is one of a number of EVPA publications. Other publications available online at
www.evpa.eu.com include:
yy Praxis: Venture Philanthropy in Practice, February 2009
yy Distance Learning: Managing international investments, October 2009
yy Business Student Experiences at a Venture Philanthropy Fund, January 2010
yy Social Enterprise: From Definitions to Developments in Practice, September 2010
yy Strategies for Foundations: When, why and how to use Venture Philanthropy, October
2010
yy Establishing a Venture Philanthropy Organisation in Europe (New edition), November 2010
Contents
LETTER FROM THE CHAIRMAN 8 Autonome (ADA) 95

ABOUT EVPA 10 Arendt & Medernach 96
EVPA – THE HISTORY 13 Argos Soditic 97
EVPA IMPACT REPORT 21 ASCRI 98
The Ashden Trust 99
FULL MEMBERS Banque de Luxembourg 100
Absolute Return for Kids 33 Banque Degroof 101
Artha Initiative 34 Barclays Private Equity 102
Ashoka 35 Bertelsmann Stiftung 103
Auridis GmbH 36 BMW Stiftung Herbert Quandt 104
BonVenture 38 BNP Paribas Wealth Management 105
Breakthrough 40 Bridges Social Entrepreneurs Fund 106
CAF Venturesome 42 Business Angels des Cités (BAC)
Canopus Foundation 43 Partenaires Gestion 108
The Children’s Investment CDFSN Sørlandets Kompetansefond 109
Fund Foundation 44 Center for Entrepreneurial and
d.o.b foundation 46 Financial Studies (CEFS) 110
The EH Foundation 47 Centre for Social Investment (CSI) 111
Ferd Social Entrepreneurs 49 Charity Rating 112
Fondation Demeter 50 Citizen Capital 113
Fondazione Oliver Twist Onlus 52 Coller Capital 114
Fondazione Paideia 54 Convivatus Social Capital GmbH 115
Good Deed Foundation 56 The Cranfield Trust 117
Impetus Trust 58 Crédit Coopératif 118
Inspiring Scotland 60 Cultiva – Kristiansand Energy
Invest for children 62 Corporation Foundation 120
LGT Venture Philanthropy 64 CVC Capital Partners 121
NESsT Europe 66 DCU Ryan Academy for
Noaber Foundation 68 Entrepreneurship 122
Oltre Venture 70 Doughty Hanson & Co 123
The One Foundation 72 EPFL - Ecole Polytechnique
PhiTrust 73 Fédérale de Lausanne 124
Social Venture Fund 75 ESADE Business School 125
Start Foundation 77 Esmée Fairbairn Foundation 126
Stiftung Charité 79 ESSEC Business School 128
Venture Partnership Foundation 81 European Investment Fund 129
Voxtra 83 Factary 130
Wood Family Trust 85 Fondazione CRT 131
Fondazione di Venezia 133
ASSOCIATE MEMBERS Fondinvest Capital 134
3i Group plc 91 Formuesforvaltning AS Stiftelsen
ABN AMRO Private Banking 92 et Rikere 135
Actis 93 Forum for Active Philanthropy GmbH 136
AlphaMundi Group Limited 94 GMT III Charitable Trust 137
Appui au Développement Halder Beteiligungsberatung GmbH 138
Hogan Lovells 139 HONORARY MEMBERS
IESE Business School 140 European Foundation Centre 189
iHeed Foundation 141 European Private Equity &
IKARE Ltd 142 Venture Capital Association (EVCA) 190
INSEAD 143 Serge Raicher 191
Institute for Philanthropy 144 Luciano Balbo 192
J P Morgan 145 Stephen Dawson 193
JPA Europe Limited 146 Michiel de Haan 194
King Baudouin Foundation 147 Doug Miller 195
KPMG Private Equity Group 148 David Carrington 196
Lapiluz Advisory Services 149
L’Initiative Philanthropique 150 CASE STUDIES
Lundin for Africa Foundation 152 ARK 201
MAM Pte Ltd 153 BonVenture Management GmbH 202
Martin und Gerda Essl Sozialpreis Breakthrough 203
gemeinnützige Privatstiftung 154 CAF Venturesome 204
Media Development Loan Fund 155 Canopus 205
MVision Private Equity Advisers 157 The Children’s Investment
Natixis Private Equity 158 Fund Foundation 206
New Philanthropy Capital 159 d.o.b foundation 207
The NTR Foundation 160 The EH Foundation 208
OFI Private Equity Capital 162 Ferd Social Entrepreneurs 209
Pantheon Ventures 163 Fondation Demeter 210
Partners in Ideas Foundation 164 Fondazione Oliver Twist Onlus 211
Permira 165 Fondazione Paideia 212
Pontis Foundation 166 Good Deed Foundation 213
PricewaterhouseCoopers S.à r.l. 167 Impetus Trust 214
Private Equity Foundation 168 Inspiring Scotland 215
Prospectus 169 Invest for children 216
The Rayne Foundation 170 LGT Venture Philanthropy 217
Salans 171 NESsT Europa 218
Scholten & Franssen Consultancy BV 172 Noaber Foundation 219
Skoll Centre for Social Entrepreneurship 173 Oltre Venture 220
Social Entrepreneurs Ireland 174 The One Foundation 221
Social Evaluator BV 176 PhiTrust 222
TowerBrook Foundation 177 Stiftung Charité (Charité Foundation) 223
UBS 178 Venture Partnership Foundation 224
University of Cambridge 179 Voxtra Foundation 225
University of Warwick 180
UnLtd Ventures 181
Van Leer Group Foundation 183
Wellington Partners 184
Young Foundation – Launchpad 185
LETTER FROM THE CHAIRMAN
Dear members,
This past year, EVPA brought our members eleven events in eight different countries across Europe,
launched our Knowledge Centre and began work on even more publications and services for the
coming year. Membership continues to grow and we look forward to welcoming many more this
year.
We are proud to have played a role in helping leading practitioners and professionals from
philanthropy to finance develop the knowledge and networks to contribute to a more effective
social economy. As we take stock of our accomplishments, I’d like to thank all of our members for
contributing their own experiences and helping make EVPA a great place to come together and
learn.
Members especially liked the in-depth look into VP operations at site visits and the many
opportunities to learn about best practice at events and through publications. While we were
pleased to hear the many positive things our members had to say about us in the annual impact
survey, we take your input very seriously.
Some members highlighted the often stark regional disparities that can prevent general knowledge
from being applicable to local circumstances. Our new Social Impact Network aims to help you
more effectively network with practitioners in your region, in your local language if desired. This
online forum will allow you to meet and collaborate, but also to coordinate events in your area,
supported by EVPA. Country group meetings will be a larger focus for EVPA and we hope that this
online meeting place will allow members to better connect and leverage regional expertise.
Next, academics and others expressed interest in topic-specific services. The Knowledge Centre
website will highlight the research projects conducted by our members and knowledge from
across the field. The site aims to serve as an industry knowledge portal providing key resources
including publications, articles, and data about specific aspects of venture philanthropy in Europe.
The industry-wide database, currently in development, will collect and disseminate key information
on the VP sector. We are also offering a variety of events this coming year including site visits,
workshops and country group meetings.
8
Here’s a deeper look at EVPA’s new features, which address specific member feedback:
The new EVPA Website (www.evpa.eu.com) will help members to
yy Keep up with the information on best practice
yy Showcase their own research and knowledge resources
yy Learn more about the European venture philanthropy landscape
yy Connect with other members through the Social Impact Network or LinkedIn groups
yy Post their events and job openings
The Social Impact Network will be an online portal for all those – members and invited non-
members – interested in venture philanthropy (social investment and engaged grant-giving), and
other practices and allow them to find one another, discuss and collaborate. On this forum, we
will post photos and summaries of events and encourage pre- and post- event networking and
discussion.
We are proud to have delivered a variety of interesting programming this year and look forward to
offering new solutions tuned to your needs. Please continue to provide valuable feedback.
Warm regards,
Serge Raicher
Chairman
9
ABOUT EVPA
EVPA is a membership association made up of organisations interested in or practising venture

philanthropy across Europe. Established in 2004, the association is a unique network of venture
philanthropy organisations and others committed to promoting high-engagement philanthropy in
Europe. EVPA’s diverse membership includes venture philanthropy funds, grant-making foundations,
private equity firms and professional service firms, philanthropy advisors and business schools.
Currently the association has 127 members from 20 countries.
EVPA has two main aims: to support its members in carrying out their venture philanthropy
activities, and to promote venture philanthropy throughout Europe. To achieve this mission, EVPA
provides a forum within which European based venture philanthropists can network, exchange ideas
and debate best practice. EVPA also informs potential donors and others of the role and benefits
of venture philanthropy and facilitates its development, with the aim of increasing knowledge and
acceptance of the benefits of venture philanthropy in the charitable sector. The EVPA Knowledge
Centre produces research and proffers collective industry data and curated resources to develop in-
depth knowledge of best practices and a vision into the future of social investment.
EVPA Board
Serge Raicher, Chairman
Luciano Balbo, Oltre Venture
Olivier de Guerre, PhiTrust
Doug Miller, Asia Venture Philanthropy Network
Deirdre Mortell, One Foundation
Andrew Muirhead, Inspiring Scotland
Pieter Oostlander, Noaber Foundation
Anne Rannaleet, IKARE
Luc Tayart de Borms, King Baudouin Foundation
Observers to the board

Javier Echarri, European Private Equity & Venture Capital Association
John Kingston, CAF Venturesome
Gerry Salole, European Foundation Centre
EVPA Team 2010

Beate Trück, Managing Director
Lisa Hehenberger, Knowledge Centre Director
Julia Meuter, Membership Services Coordinator
Ashley Metz Cummings, Research Consultant
Linda Muise, Office Manager
10
EVPA member investment by sector
1
EVPA member investment by sector *
40%
30%
20%
10%
0%
Education
Children, youth
Health
Social welfare
No sector focus
Others
Culture, arts
Employement
Microfinance
Development
Environnement
*Can include more than one Technology
Social welfare is a critical investment sector supported by a third of our full members. Many
members are also involved in organisations dedicated to children, young people and education. The
development sector, which encompasses international development as well as the development
of locally deprived areas, gets funding from a quarter of VP investors. Fewer of our members invest
in organisations related to health, the environment, the culture and arts, employment, technology
and microfinance. Nearly a quarter of the full members, however, do not have any sector focus and
maintain an open investment strategy.
1
EVPA membership data 2010 collected from Membership Directory when applicable and member websites
11
EVPA member investment by geography
EVPA member investment by geography2*
25%
20%
15%
10%
5%
0%
Austria
Scotland
Spain
Africa
Switzerland
Others
Germany
Latin America
Italy
Eastern Europe
Benelux
Ireland
Global
Asia
The Netherlands
France
UK
*Can include more than one
The above graph presents the percentage of EVPA full members currently investing in each
geographical area.
A significant proportion of the full members invest in the UK, mostly due to the fact that many VP
organisations are registered in this country and invest locally. For the same reason, investments
are made throughout Europe. Outside of their home country, full members focus their investment
on developing or transitional countries, most of which are situated in Africa or in Asia. Central and
Eastern Europe and Latin America attract some VP investors and a few have no geographical focus.
2
EVPA membership data 2010 collected from Membership Directory when applicable and member websites
12
EVPA – THE HISTORY
At a meeting in London in January 2004, the five founding trustees formally launched the European
Venture Philanthropy Association (EVPA) to promote venture philanthropy in Europe. The launch
was the culmination of series of meetings and discussions between the five (Luciano Balbo, Stephen
Dawson, Michiel de Haan, Doug Miller and Serge Raicher) who had in common a background in
private equity, an interest in investing in charities and a conviction that something new was needed
to maximise charities’ contribution to the resolution of social problems.
They discussed the model of venture philanthropy, which had enjoyed a brief vogue in the US but
was virtually unknown in Europe. At the start, it was a network without members, staff or premises,
a support mechanism with virtually nothing to support. They had to ‘grow the industry’ to promote
the idea of venture philanthropy in Europe and to support those few new and emerging VP funds
that existed. The association depended – and continued very much to depend until 2008 - on the
‘sweat equity’ of the trustees and on the bought-in expertise of consultants and advisers, prominent
among whom was Rob John, who became chief adviser from late 2004 to early 2009.
This organisational parsimony made the association flexible and easy to run with few resources. On
the other hand, it made great demands on the few people who were involved and, at times, the new
network was overstretched.
Two key early steps were to enlist the support of European Foundation Centre (EFC) and the
European Venture Capital Association (EVCA). The buy-in to VP of foundations would be crucial if it
were to make any headway and private equity firms were seen as having (because of some common
ideas and common vocabulary) a natural affinity with VP. The support of the EVCA could be secured
through Serge Raicher who was the former secretary general of that association and the co-founders
came from the private equity industry. Doug Miller secured EFC support at a meeting in Brussels in
early 2004. The platform and the credibility that the support of both of these groups enabled have
been vital. It has enabled EVPA to ‘punch above its weight.’
In September 2004, EVPA’s charitable registration in the UK was confirmed and, in the same month,
they ran an exploratory conference on venture philanthropy, in Amsterdam which drew 65-70
people, double the number projected, from eight countries. In June 2005, the first annual conference
took place, which drew 135 people from 14 countries. Advance publicity was provided by interviews
in private equity magazines Real Deals and PE International, both of whom have been staunch
supporters of EVPA, and through a panel at the EFC annual conference in Budapest earlier in the
month.
Since the early days of EVPA, much has happened. In 2009, EVPA transformed itself into a Brussels-
based international non-profit association (aisbl) under Belgian law with permanent staff and
consultants. The annual conference draws an average of 350 participants and is considered the key
event in European venture philanthropy. The association has a permanent team of professionals
managing the activities. The ‘founding fathers’ still contribute to the evolution of EVPA and the VP
industry, but EVPA has now grown to a 127-member-strong network with a wide range of services to
its members.
13
Why join EVPA?
The leadership at your fund, the people and organisations you support, and the society you aim
to improve, all stand to benefit from the effective use of philanthropic resources. Solving complex
societal problems entails collaboration, creativity and the wise application of wealth and knowledge.
To work toward system-wide change, your organisation requires a deep understanding of societal
needs coupled with local know-how, a wide array of skills and capabilities, and a network of partners
to help you tackle difficult problems and innovate around constraints.
The EVPA community offers your organisation a means to work toward a more effective social
economy – to drive and define the industry for the future, and to learn and share practical insights
and the tools you need today. Benefits of membership fall under three main categories:
1. Networking
Numerous events throughout the year offer unprecedented opportunities for you to connect with
your peers in the venture philanthropy industry (including grant-giving, and social investment) in
Europe. Our members produce thought-leadership and ground-breaking research, collaborate with
each other and others to tackle multi-faceted issues and support social purpose organisations to
make a proven impact in their communities. Meet, learn, share, and connect for future collaboration
at our annual conference, the meeting of the year in venture philanthropy, CEO Meeting in Venice,
thematic workshops and trainings, site visits and country group meetings, as well as online via our
LinkedIn group and Social Impact Network.
2. Knowledge
Sharing knowledge is a keystone to the EVPA community. The EVPA Knowledge Centre offers you
opportunities to share your own knowledge and experience – as a speaker, participant or case
study subject - as well as to learn from fellow practitioners, academics and service firms. The EVPA
Knowledge Centre produces research and proffers collective industry data and curated resources
to help you develop in-depth knowledge of best practices and a vision into the future of social
investment. Also EVPA is working on guidelines to better enable the sector.
3. Promotion
As a supporter of the VP industry through your membership, you help to promote greater awareness
of VP issues and practices amongst donors and potential donors, potentially increasing funding into
the sector and supporting new philanthropic efforts. To increase the visibility of your own good
work, EVPA offers exposure via the EVPA website, Membership Directory, Newsletter, online LinkedIn
group and Social Impact Network and through your presence at EVPA events. Your news, job
postings, photos, video and press are disseminated by EVPA to an industry-wide network.
14
Categories of EVPA Membership
EVPA has three membership categories:

Full Membership is open to organisations or individuals whose primary activity is venture
philanthropy, and that fulfill the following criteria:
yy Have capital to invest
yy Have, as their main activity, the provision of long-term funding to charities, social enterprises or
similar ‘social purpose’ organisations
yy Are primarily seeking a social return rather than a financial return, and make a credible effort to
measure social value created
yy Take an active role in helping develop the social purpose organisation
yy Assess, develop and support the core development of the organisation. Help develop a stronger
executive team and board through building capacity, resulting in a more sustainable organisation
(a ‘holistic’, as opposed to project, approach).
Associate Membership is open to organisations or individuals with a serious interest in venture
philanthropy but for whom it is not their primary activity or who do not meet all the criteria for full
membership.
Honorary Membership is invitation-only from the EVPA Board, and may be offered to those
individuals or organisations whom the Board believes can provide valuable insight and/or assistance
in helping EVPA achieve its mission and goals.
Code of Practice
All members of EVPA are committed to upholding the highest standards of practice in conducting
their affairs with their donors, the charities they work with, Governmental authorities and the
community at large. This behaviour is founded on transparency, responsiveness, honesty and
fairness.
In pursuing their individual objectives, members will:
1. Comply with all legal requirements in their respective countries.
2. Practice and promote ethical behaviour.
3. Maintain accounts in accordance with the standards and practices in their respective countries
and be transparent with respect to income, expenditure and assets.
4. Run their own organisations in accordance with accepted governance standards to promote
efficiency and sustainability, ensuring that their own management and resources are sufficient to
meet their stated objectives.
5. Ensure appropriate internal control of resources, carry out internal evaluation of effectiveness of
their programmes.
6. No member shall malign, defame or unfairly criticise any other member in any dealings.
7. No member will take advantage of its position in EVPA or abuse any information addressed to
EVPA.
8. Unethical conduct will be deemed to include any evasive device intended to conceal non-
compliance with the Code of Practice.
In addition members who have grant making activities should disclose information regarding
their policies and procedures for making grant decisions, including their requirements for active
interaction with the charity.
The membership application can be downloaded from evpa.eu.com
15
Breakdown of membership benefits
Knowledge
Events Centre EVPA
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All members are invited to events at reduced or complimentary prices. They are allowed full access
to EVPA data and are invited to participate in the Social Impact Network and LinkedIn groups as well
as working groups on specific topics of interest. Members can post jobs and news on the EVPA site as
well as news in the monthly VP Update. All members receive the VP Update monthly.
Full members are in addition invited to the annual Venice CEO meeting and have voting rights.
Associate members are given the same benefits as full members, but without voting rights or
presence at the Venice CEO meeting. Attendance at Site Visits is by request.
Non-members can access Knowledge Centre information online and attend relevant events at full
price. They can receive the VP update quarterly.
16
Definition of Venture Philanthropy3
Venture philanthropy provides a blend of performance-based development finance and professional

services to social purpose organisations – helping them to expand their social impact. This is a high-
engagement, partnership approach, analogous to the practices of venture capital in building the
commercial value of young companies. VP in its modern form developed originally in the US in the
mid-1990s, took hold in the UK from 2002 and has since expanded into continental Europe.
There are several published definitions of venture philanthropy, which try to capture its essence and
core practices. The definition adopted by EVPA is set out below:
Venture philanthropy works to build stronger social organisations by providing them with both
financial and non-financial support in order to increase their social impact. The organisations
supported may be charities, social enterprises or socially driven commercial businesses, with the
precise organisational form subject to country-specific legal and cultural norms.
As venture philanthropy spreads globally, specific practices may be adapted to local conditions, yet it
maintains a set of widely accepted, key characteristics. These are:
yy High engagement: venture philanthropists have a close hands-on relationship with the social
purpose organisation they support, driving innovative and scalable models of social change.
Some may take board seats at these organisations, and all are more intimately involved at
strategic and operational levels than in many other forms of philanthropy, significantly reducing
the number of organisations supported to around 10-15 for the average VP organisation.
yy Tailored financing: as in venture capital, venture philanthropists take an investment approach
to determine the most appropriate financing for each organisation. Depending on their own
missions and the ventures they choose to support, venture philanthropists can operate across
the spectrum of investment returns. Some offer non-returnable grants (and thus accept a purely
social return), while others use loan, mezzanine or quasi-equity finance (thus blending risk-
adjusted financial and social returns).
yy Multi-year support: venture philanthropists provide substantial and sustained financial support
to a limited number of organisations. Support typically lasts three to five years, although
timescales may become longer as VP in Europe develops. The VPO’s objectives will include
helping the organisation to become financially self-sustaining by the end of the funding period.
yy Non-financial support: in addition to financial support, venture philanthropists provide value-
added services such as strategic planning, marketing and communications, executive coaching,
human resource advice and access to other networks and potential funders.
yy Organisational capacity-building: venture philanthropists focus on building the operational
capacity and long-term viability of the organisations in their portfolios, rather than funding
individual projects or programmes. They recognize the importance of funding core operating
costs to help these organisations achieve greater social impact and operational efficiency.
yy Performance measurement: venture philanthropy investment is performance-based, placing
emphasis on good business planning, measurable outcomes, achievement of milestones, and
high levels of financial accountability and management competence.
3
Establishing a Venture Philanthropy Organisation in Europe: A Practical Guide, EVPA, Ed. October 2010
17
The venture philanthropy approach
Donors - Mainly foundations, VC/PE
firms, High networth individuals
DONORS (many from VC/PE sector or business
entrepreneurs) and corporations.
Donors expect mainly a social return
on their ‘investment’.
Financing Social return
VP organisations - VP organisations
provide tailored financial and non-
financial support to the target
organisation (Investee) and expect a
VP Organisation social return on its investment. Any
financial return is usually recylced
into new investments. Mostly set up
as foundations, funds or a structure
Financing Social return
Financial return that incorporates both.
Non - financial
support Recycling or below market
Investees - Non-profit organisations and

Investee social enterprises at a critical stage in
their development.
The recent financial crisis has stirred the debate on financial returns. In VP, any financial return
generated from investees should be recycled into new investments unless the return is clearly below
market.
Venture philanthropy can operate across a spectrum of organisational types, from charities and
non-profit organisations through to socially driven business. The diagram below4 sets out the range
of organisational types that may have some social mission of one form or another. Those that are
typically considered for investment by venture philanthropy organisations (VPOs) will generally fall
into the Charities, Revenue Generating Social Enterprise and Socially Driven Business categories,
collectively referred to as Social Purpose Organisations (SPOs):
4
Adapted from John Kingston, CAF Venturesome, by Pieter Oostlander, Noaber Foundation. Image produced by Shaerpa.
18
Primary Primary
driver is Organisations can create ‘blended’ social and financial value driver is
to create to create
social value financial value
SOCIAL PURPOSE ORGANISATIONS [SPO’ s]
Socially Traditional
Charities Revenue Generating Social Enterprises Driven Business
Business
Grants only; Trading Potentially Breakeven all Profitable Profit CSR Company Company Mainstream
no trading revenue and sustainable income from surplus distributing allocating Market
grants >75% trading reinvested socially percentage to Company
trading driven charity
revenue
Impact Only Impact First Finance First
Venture Philanthropy
Social Venturing
Venture philanthropy includes both grant funding and social investment.Based By grant funding
upon: John weVenturesome
Kingston, refer
to the provision of non-repayable donations to the social purpose organisation; an Impact Only
strategy. Social investment (or social venturing) refers to funding that may generate a financial
return, but where the social impact comes first; so-called Impact First strategies. Although grants can
in theory be provided across the spectrum of SPOs, they are generally most suitable for SPOs that do
not have the potential to become financially sustainable, i.e. Charities. In general, social investment
is provided to SPOs in the categories of Revenue Generating Social Enterprises or Socially Driven
Businesses, although loans can also be provided to Charities with trading revenues. The division
between the two approaches is not as clear-cut as it may appear in this schematic overview. There is
a spectrum of increasingly sophisticated financing mechanisms included in social investment.
Origins and European expansion

The term ‘venture philanthropy’ can be traced back as far as the 1960s in the US, but it was only
during the 1990s that the term gained popularity and stimulated a debate on new forms of highly
engaged grant making by foundations. An influential Harvard Business School paper by Letts,
5
Ryan and Grossman challenged foundations to employ tools from venture capital to invest in the
organisational, rather than the programmatic, needs of social purpose organisations. Porter and
Kramer6 subsequently challenged foundations to create greater value and to act as more than a
passive conduit for transferring finance from private sources to grantees. At the same time, existing
foundations were considering how to change some of their practices in order to better assist the
social sector and how to align their investments with their social mission. In the UK, considerable
interest in innovations in social investment, including high engagement models, began to develop
in 2001. While there were several historical examples of VP-like activity, it was not until 2002 that the
UK’s first VPO, Impetus Trust, was launched. In continental Europe, there has been a slow, but steady
arousal of interest in social investment and high-engagement models of philanthropy, but only in
the last four or five years have new organisations or models emerged. EVPA, formed in 2004, is the
primary vehicle for encouraging the development of the VP model throughout Europe.
Although not without its sceptics, VP has the potential to contribute to developing a more
flexible and diverse social investment market. Its focus on building organisational capacity in
entrepreneurial social purpose organisations, matching appropriate finance with strategic business-
like advice, makes it a distinctive provider of capital. Venture philanthropy in Europe has strong
links to the private equity and venture capital community, giving it opportunities to influence
5
“Virtuous Capital: What Foundations Can Learn from Venture Capitalists”, Christine Letts, William Ryan and Allen Grossman,
Harvard Business School (1997)
6
“Philanthropy’s New Agenda: Creating Value”, Michael Porter and Mark Kramer, Harvard Business Review (1999)
19
the corporate social responsibility of a set of major players in Europe’s financial services industry.
Several new venture philanthropy organisations have been established by philanthropists who
had successful careers in private equity. However, foundations are increasingly interested in the
VP approach as an additional tool in their philanthropy toolbox. EVPA has recently (October 2010)
published a report on VP strategies for foundations7. Some foundations use selected parts of the VP
approach in their everyday activities, others have set up dedicated VPOs within the foundation, and
some foundations use VP as an alternative strategy calling for a complete turnaround. Co-investment
between a VPO and a foundation is also an interesting strategy as it enables each party to contribute
its own expertise. Foundations often have extensive experience of working in particular social
sectors that can prove invaluable to a VPO that is more focused on developing processes and
building strong organisations. VP in its current form is evolving at the intersection between the for-
profit and the non-profit sector involving professionals and practices mainly from venture capital,
philanthropy and the corporate sector.
The Central and Eastern European countries, the Baltic States and Former Soviet Union have faced
significant challenges in rebuilding a market economy and a social sector simultaneously, leading to
widespread, unaddressed social needs. VP may have a particularly valuable role in helping to build
stronger civil society institutions in these countries.
As evidenced in another EVPA publication - Social enterprise: From Definitions to Developments in
Practice8 - VPOs, both in transition economies and in more mature markets, often have to struggle
with regulatory hurdles in their quest to provide social purpose organisations with the support
necessary to prosper and grow.
9
Motivation for Venture Philanthropy
Venture Philanthropy organisations usually position themselves as complimentory to other
forms of funding available to SPOs. But they do view the VP model as particularly appropriate
for organisations undergoing rapid growth and development. VPOs recognise that many SPOs
lack the internal capacity, particularly the appropriate business skills and growth capital, to grow
significantly the scale of their social missions, reach new markets or be competitive when bidding
for government contracts. The ‘capital market’ for social innovation is not as efficient or diverse as it is
for developing fully commercial enterprises. VP brings diversity in funding solutions and so helps to
make the capital market more efficient, especially for rapidly growing and developing organisations.
Venture philanthropy is best described not as a blueprint, but rather as a movement that is evolving
a set of practices. However, EVPA has recently decided to issue guidelines for practice and establish
general principles in order to encourage the professionalization and standardization of the industry.
The objective of the guidelines is to manage expectations as to the behaviour of VPOs.
VP is still an emerging player in the social sector, with the fundamental challenge of offering new
solutions to the promotion and encouragement of entrepreneurship and innovation. In order to
achieve this, the industry must address a number of ‘enabling’ issues, namely:
yy Communicating and marketing what they do within the social sector (to multiple audiences,
including SPOs, statutory agencies, other types of social sector funders)
yy Developing a range of financial instruments and advisory services that meet the needs of SPOs
yy Measuring the performance and social impact of SPOs (and hence the performance of VP
investment)
yy Collaborating with and learning from complementary capital providers such as foundations or
private equity and venture capital firms.
7
“VP Strategies for Foundations: When, why and how to use Venture Philanthropy”, Ashley Metz Cummings and Lisa
Hehenberger, EVPA (2010)
8
“Social enterprise: From Definitions to Developments in Practice”, Marta Maretich and Margaret Bolton, EVPA (2010)
9
Ibid
20
EVPA IMPACT REPORT 2005-2009
FEEDBACK FROM OUR MEMBERS10

A survey of EVPA members was conducted in June 2010 so that
EVPA could better understand how it was affecting its members and
make informed decisions about its programming.
Survey respondents reflected EVPA’s diverse membership
Academic
4%
Venture
philanthropy org Advisory
14% 10%
Financial
services provider
8%
Social investor
21%
Foundation
29%
Private equity firm
14%
Survey respondents were a mix of old and new members
1 years or less
4 or more years
2 or 3 years
10
Survey of EVPA members, June 2010
21
“
Highly useful contact EVPA communications read
with colleagues on
issues related to
strategic philanthropy,
Other 2.20%
joint project support,
performance Website 67.40%
monitoring. Reports 69.60%
Newsletter 95.70%
Most respondents read the newsletter regularly, and the majority

also read EVPA reports and its website. EVPA will soon launch a new
website, along with the Knowledge Centre website, hosting many
more documents and knowledge on the sector.
Activites attended
Other 4.50%
“
Country-based
Seminars 11.40%
The site visit was very
helpful, hands-on, and Site Visits 13.60%
practical, it was a very
valuable experience. Members’
Workshops 34.10%
Olga Auchenbach,
Pontis Foundation, of Annual
Impetus Site Visit Conference 97.70%
22
“
Attendance at events varied by member type You got the balance
between learning about
Impetus (clearly the
Venture focus of a site visit!) and
philanthropy networking opportunities
organisation
exactly right - impressive! I
really enjoyed the day and
Social investor the previous dinner and
it really was worthwhile!
Thanks to all, in particular
Private at Impetus for sharing
equity firm
their experience and
insights!
Foundation Christian Meyn, Auridis,
commenting on the
Financial Impetus Site Visit
services
provider
Advisory
Academic
0% 20% 40% 60% 80% 100%
Annual conference
Members’ workshops
Country-based seminars
Site visits
Other
“
Excellent speakers and I
really liked the fact that
The largest
ce joining EVPA, Members haveevent of the year,
undergone the annual conference, was attended
a variety different financing models
by nearly all respondents. Nearly a third of venture philanthropy (grants and equity/loans)
organisations attended workshops, and nearly half of social investor were discussed in the
and foundation respondents did as well. Site visits were the workshop.”
most popular with venture philanthropy organisations and social
investors. Country based seminars were less frequently attended by Attendee, Brussels
member respondents. Workshop
23
“
It helped us gain a Most members found EVPA activities helpful
better understanding
of the growing field of
venture philanthropy, 100%
which is an area 90%
of interest to us as 80%
part of our overall 70%
commitment to 60%
responsible investing.” 50%
40%
30%
20%
10%
0%
m
n
ic
rg
ry
or
de
tio
em
fir
iso
yo
st
i
da
ov
ve
ty
ad
op
Ad
ui
un
pr
l in
Ac
hr
eq
Fo
s
ia
ce
nt
oc
e
ila
vi
at
S
er
iv
ph
ls
Pr
e
cia
ur
an
nt
Ve
Fin
Yes
No
The majority of member types reported finding EVPA activities

helpful, while some academic and advisory members did not. In
the future EVPA will provide greater services to academic members
“
through the Knowledge Centre, some of which are also beneficial
to advisory service members. Although EVPA’s primary activities
are aimed at practitioners and firstly serve this demographic group,
We work with the we are working hard to develop services that are useful to all our
principles of Venture members.
Philanthropy, we are
more or less developed
on our own and it’s
very nice to share this
experience with other
people, having the
same challenges, even
if there are cultural
differences, we learn
a lot from the other
people, about how to
improve our work.”
Andre Hendrikse, Start
Foundation
24
Since joining EVPA, members have undergone a variety
of changes
30%
25%
20%
15%
10%
5%
0%
Investment strategy
Investment process
Monitoring process
Impact evaluation
Management/Staff development
Investor/funder relations
Investee/grantee relations
Over a quarter of members reported changing their investment

strategy and/or impact evaluation since joining EVPA. Respondents
cited EVPA reports as useful for informing changes in strategy.
Changes in impact evaluation included the use of SROI and other
initiatives. Many respondents also changed the way they monitored
processes and their management development. Some also made
changes in investment processes, investor/ funder relations and
investee/grantee relations. Staff attended EVPA workshops and
EVPA facilitated networking that led to other changes.
25
“
I think this is the great Changes undergone by member type
value of EVPA, the ability
that we have, in this very
nascent industry, to learn 45%
from each other, be open
and share, and also sort 40%
of reflect back as to what
you should be doing in 35%
our engagement in the
social sector. Do come to 30%
the conference, because
it’s a fantastic and unique
25%
opportunity to see the
best of what is out there
across Europe and even 20%
beyond Europe as well.”
15%
Daniela Barone Soares,
Impetus Trust
10%
5%
0%
Venture
Foundation Social Investor philanthropy org
Investment strategy
Investment process
Monitoring process
Impact evaluation
Management/staff development
Investor/funder relations
Investee/grantee relations
Since joining EVPA, foundations were more likely to make changes

than venture philanthropy organisations (VPOs) or social investors.
This likely reflects new-comers to the VP method adopting
more VP methodologies already in use by venture philanthropy
organisations. However, over a third of VPOs changed their
investment strategies since joining EVPA, demonstrating the flux in
the industry and necessity to learn and adapt.
26
The year in review: EVPA Knowledge Centre
The EVPA Knowledge Centre was officially launched. The
establishment of the Knowledge Centre is a major accomplishment
for EVPA to provide valuable resources about venture philanthropy
including publications, articles and workshops and to highlight
exciting research projects conducted by members across Europe.
Publications from the Knowledge Centre in its first year include:
yy Distance Learning: Managing International Investments
yy Case Study 1: Noaber Foundation
yy Case Study 2: Jacana Venture Partnership
yy Social Enterprise: From Definitions to Developments in Practice
yy Strategies for Foundations: When, why and how to use Venture
Philanthropy
yy Establishing a Venture Philanthropy Organisation in Europe
(New edition)
These publications are available online for download. Printed copies
of the latter two can be ordered from AllianceMagazine.org.
The Knowledge Centre website will be launched in November 2010
and the industry database is expected beginning of 2011. The KC
website will be a research portal for the VP industry as well as a
place for members and interested parties to connect online. The
database will compile key statistics necessary for research and
documentation of the growing sector.
27
The year in review: EVPA Events
Bookended by the annual conference, the 2009-2010 year has seen
an event per month on average from EVPA. Workshops, country
interest groups and conferences on specific topics have been held
in countries across Europe.
The EVPA annual conference is a yearly event where leading experts
in the field discuss the key developments of the industry and meet
their peers across Europe.
The annual conference 2010, A New Era in Venture Philanthropy:
Where Grant and Social Investment Converge will take place
in Luxembourg on 16-17 November. The event is generously
supported by the European Impact Financing Group Luxembourg
consisting of the Banque de Luxembourg, Ernst & Young, Arendt
& Medernach, ADA Microfinance Expertise and the European
Investment Fund.
Confirmed keynote speakers are:
yy Percy Barnevik Chairman, Hand in Hand
yy Sir Ronald Cohen Chairman, Bridges Ventures
yy Jacqueline Novogratz Founder and CEO, Acumen Fund
This year’s conference acknowledges that venture philanthropy
has come a long way since the first official EVPA conference in
London in 2005. The distinction between the non-profit and the
for-profit sector has become blurred with the emergence of social
entrepreneurship and the increased demand for transparency and
performance measurement to assess the efficiency of non-profit
organisations. Meanwhile, foundations have considered how to
change some of their practices in order to better assist the social
sector and how to align their investments with their social mission.
Venture philanthropy is positioned at the intersection between
the for-profit and non-profit sectors. As such, venture philanthropy
includes high engagement and a range of financing mechanisms
tailored to the needs of the social purpose organisation, be it a
non-profit organisation or a social enterprise. The aim of this year’s
conference is to move away from past dichotomies and to focus
on the overall objective of venture philanthropy: building stronger
social sector organisations to achieve greater social impact. That
for the first time the annual conference was fully booked a month
before shows that EVPA has now a unique standing in the venture
philanthropy sector.
The annual conference 2011 will take place in Torino, hosted by
Fondazione CRT.
28
THE EVPA CALENDAR 2009/2010:
Annual Conference Amsterdam, 16/17 T he Rise of Social Enterprise

November 2009 in Europe: A Critical Role for
Venture Philanthropy.
Venice meeting for CEOs of Venice, 18 &19 March 2009 Event for leaders in the field
full members to network and discuss the
evolution of the field and
practices.
Dutch Interest Group T he Netherlands, 21 May T his event was organised by
2010 Noaber, d.o.b foundation,
and the Start foundation. A
session on VP was organised
by Pieter Oostlander and Jos
Verhoven during the Dutch
conference on Civil Society.
Workshop on different Brussels 1/2 June, 2010 This event was organised
financing models during the European
Foundation Week and
intends to provide
EVPA members with an
introduction into different
financing models.
F rench Country Interest Paris, 24 June 2010 The event, the third of
Group its kind is co-organised
between Natixis PE and
EVPA.
Site Visit at Impetus Trust London, 29 June 2010 T his visit provided an inside
look into the work of an
experienced VP practitioner.
Conference Cycle: Venture L uxembourg, 15 September n introduction to Venture
A
Philanthropy and Impact 2010 Philanthropy.
Finance
Annual Conference Luxembourg, 16/17 A New Era for Venture
November 2010 Philanthropy: Where
Grant Making and Social
Investment Converge.
Other thematic workshops are upcoming and linked to new publications from the Knowledge
Centre. New German and Belgian country interest groups are in the planning stages and
interest has been demonstrated for an Iberian country group. Country groups are member-
led networks supported by the EVPA with the objective of encouraging and actively
supporting the development of venture philanthropy locally.
29
2010-2011 Membership Profiles
The following pages include the profiles of our current full, associate and honorary members.
This information is intended to be a useful reference for grant-makers, grant-seekers, social
investors, service providers, academics and private banks, as well as any others interested in
the area. They are divided in three sections: full members (p. 31), associate members (p. 89)
and honorary members (p. 187).
The directory is one of a number of EVPA publications. Other Publications are available online
at www.evpa.eu.com.
Please contact info@evpa.eu.com to learn more about joining EVPA.

EVPA
FULL
MEMBERS
Absolute Return for Kids
65 Kingsway
London WC2B 6TD
United Kingdom
Contact Ryan Mootoo
Tel +44 (0) 20 3116 0700
Email ryan.mootoo@arkonline.org
Website www.arkonline.org
OVERVIEW
Mission Absolute Return for Kids (ARK) is an international charity whose
purpose is to transform children’s lives.
Type of organisation Charity / non profit
Year of origin 2002
Headquarters location London, United Kingdom
INVESTMENT
Geographical focus UK and Eastern Europe
Africa
Asia
Sector focus Children, youth
Education
Health
Examples of investment The AIDS Care Team – see case study p. 201
33
Artha Initiative
associated with Rianta Capital Ltd
Leconfield House, Curzon Street, Third Floor

London W1J 5JA
United Kingdom
Contact Anna Mustoe
Tel +44 (0) 20 7016 4300
Email Anna.Mustoe@riantacapital.com
OVERVIEW
Mission The Artha program strives to support high impact sustainable
enterprises that are validating the market niche for providing goods
and services to the ‘bottom of the pyramid’ in India, with an emphasis
on agriculture, energy and livelihoods.
Type of organisation Company
Fund
Year of origin 2007
INVESTMENT
Geographical focus Asia
Sector focus Agriculture
Cleantech
Livelihoods
Water
Target organisations Type: Social enterprise
Phase: Established but scaling up, mature
Annual expenditure on VP €1.2 million
VP average investment size €40,000 – €400,000
Average duration of the VP 5-7 years
support
Types of financing Equity
Convertible grant
Non financial services Strategy consulting
Governance
Fundraising or revenue strategy
Marketing and communication
34
Ashoka
Sophienstrasse 26
80333 Munich
Germany
Contact: Felix Oldenburg, Director Ashoka Europe
Tel +49 69 7162 5588
Email foldenburg@ashoka.org
Website www.ashoka.org/staff_europe
OVERVIEW
Mission Ashoka strives to shape a global, entrepreneurial, competitive citizen
sector: one that allows social entrepreneurs to thrive and enables the
world’s citizens to think and act as changemakers.
Fund
Social enterprise
Year of origin 1981
Headquarters location Washington DC, United States
INVESTMENT
Geographical focus Austria, Belgium, Czech, Denmark, France, Germany, Ireland, Italy,
Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, United
Kingdom, Switzerland
Culture and recreation
Development and housing
Environment
Health
Social services
Cleantech
Microfinance
Phase: Established but scaling up
Annual expenditure on VP €40 million
Funding available Size of the Ashoka Venture Fund: €15 million
Types of financing Living stipend for social entrepreneurs
Coaching, mentoring of the CEO or the management team
Governance
Legal advice
Networks (Global Network of 2,500 leading social entrepreneurs)
35
Auridis GmbH
Gruenstrasse 18
41460 Neuss
Germany
Tel +49 2131 1511842
Email info@auridis.de
OVERVIEW
Mission Auridis invests globally in endeavours which sustainably improve the
life opportunities for socially disadvantaged children.
Charity / non profit
Year of origin 2006
Headquarters location Neuss, Germany
INVESTMENT
Geographical focus German-speaking countries and one non-European organisation
supported
Education and research
Social services
Target organisations Type: Charity without trading, charity with trading
VP average investment size €1million - €3million
Average duration of the VP 3 - 7 years
support
Types of financing Loan
Subordinated loan
Grant
Recoverable grant
Legal advice
Networks
Examples of investment Aflatoun (global)
wellcome gGmbH (Germany)
continued on next page

36
Auridis GmbH
(continued from previous page)
ADDITIONAL INFORMATION
Portfolio organisations provide programmes which have successfully demonstrated that they lead
to sustainable improvements, (better) satisfy a demonstrable demand, are designed for regional or
rather–nationwide replication and show a credible potential to achieve such growth. Investments by
Auridis are focused on the dissemination and replication of successful approaches. Auridis does not
invest in the development or pilot phases of new endeavours.
Auridis provides non-recoverable grants for the development of business plans of up to €50k.
Organisations accepted into the portfolio receive multi-year operating support to be used for core
personnel, organisational development, capacity building, and expansion of operations. In certain
cases interest-free loans may be provided. One of the essential investment criteria is the prospect that
the organisation will achieve financial sustainability over the course of the investment period.
37
BonVenture
Pettenkoferstrasse 37
D-80336 München
Germany
Contact Dr. Erwin Stahl
Tel +49 (89) 2 00 01 25-30
Email info@bonventure.de
Website www.bonventure.de
OVERVIEW
Mission BonVenture funds companies and organisations with a social purpose
in German-speaking countries. The foundation seeks projects that
are innovative with a strong social impact, are led by motivated and
committed social entrepreneurs, and will be financially self-sustaining
in the long term.
Type of organisation Foundation
Fund
Year of origin 2003
Headquarters location Munich, Germany
INVESTMENT
Geographical focus German-speaking countries (Austria, Germany, Switzerland)
Environment
Social services
Nutrition and consumer protection
Social development
Transparency
Phase: Pilot or start-up, established but scaling up
Annual expenditure on VP Approx. €1.5 million – €2 million
Funding available Funds:
Fund 1: € 5.12 million
Fund 2: € 9.84 million
Foundation:
Approx. € 50-100 K per year (only donations)
VP average investment size € 250,000 - € 1million over 1 - 5 years
Average duration of the VP 3 -7 years
support

38
BonVenture
INVESTMENT (continued)
Types of financing Senior loan
Loan
Subordinated loan
Convertible loan
Mezzanine finance
Equity
Convertible grant
Grant
Financial management
Networks
Examples of investment hand in gAG (www.hand-in.de), Parlamentwatch GmbH (www.
abgeordnetenwatch.de), Solarlite GmbH (www.solarlite.de).
Dialogue Museum GmbH – see case study p. 202
39
Breakthrough
CAN Mezzanine, 49-51 East Road

London N1 6AH
United Kingdom
Contact Richard Kennedy
Tel +44 207 250 8048
Email breakthrough@can-online.org.uk
Website www.breakthroughfund.org.uk
OVERVIEW
Mission Breakthrough provides a combination of capital and high level
management intervention to help established social enterprises scale
up and maximize their social impact.
Year of origin 2005
INVESTMENT
Geographical focus United Kingdom
Sector focus No focus
Target organisations Type: Charity with trading, social enterprise
Funding available Size of fund: 1: €1 million
Size of fund: 2: €2 million (to date)
VP average investment size €160,000
Average duration of the VP 2 years
support
Types of financing Grant
Coaching, mentoring of the CEO and / or the management team
Operational management
Business mentoring
Specialist support
Investment readiness
Examples of investment Advocacy Partners Speaking Up – see case study p. 203

40
Breakthrough
Breakthrough was launched in 2005 by the social enterprise CAN and the European private equity
firm Permira. Breakthrough invests in social enterprises by helping them to scale up their activities
and remove the barriers to growth. It provides a combination of growth capital and high-quality
business and management expertise to support these organisations.
Fund one (2005 – 2007) invested one million euros in four social enterprises. Fund two launched
in 2007 with 2 million euros. Since its establishment in 2005, the financial turnover of the portfolio
organisations has increased, on average, by 20 per cent per annum since 2005, whilst the social
impact has grown, on average, by 30 per cent a year.
The Breakthrough portfolio includes Advocacy Partners Speaking Up, Teach First, TimeBank, Green-
Works, Law For All, FareShare and Training for Life. It is the combination of financial investment and
operational support from experienced private equity and social enterprise professionals that has
proved invaluable to these organisations.
In 2008 additional funds were secured from SVG Capital. The Breakthrough fund is open to new
investors and business skills. For more information please contact Richard Kennedy at CAN on
r.kennedy@can-online.org.uk or 0044 020 7250 8038.
41
CAF Venturesome
Charities Aid Foundation

7th Floor, St Andrew’s House, 18-20 St Andrew Street
London EC4A 3AY
United Kingdom
Contact Ann Lunan
Tel 03000 123 300
Email venturesome@cafonline.org
Website www.venturesome.org
OVERVIEW
Mission Venturesome is a social investment fund that provides investment to
help charities and social enterprises deliver on their mission.
Year of origin 2002
INVESTMENT
Target organisations Type: Charity without trading, charity with trading, social enterprise
Funding available Fund size: €15 million
Average duration of the VP 3 – 5 years
support
Subordinated loan
Mezzanine finance
Equity
Non financial services Financial management
Examples of investment Beat – see case study p. 204
Venturesome aims to help build a robust social investment market in the UK and, to this end,
publishes its learning on its website, for example, Access to Capital (2009).
42
Canopus Foundation
Grünwälderstr.10-14
D-79098 Freiburg
Germany
Contact Kathrin Kemper
Tel +49 761 20 20 172
Email info@canopusfund.org
Website www.canopusfund.org
OVERVIEW
Mission Promote private social investment and social enterprise in order to fight
poverty and environmental degradation.
Year of origin 1997
Headquarters location Freiburg, Germany
INVESTMENT
Geographical focus Africa
Asia
Latin America
Sector focus Development and housing
Environment
Cleantech
Target organisations Type: Charity with trading, social enterprise
Phase: Pilot or start-up, established but scaling up, mature
Annual expenditure on VP €100,000
Funding available €15 million (Via Forseo GmbH)
Size of endowment: €3 million
Governance
Examples of investment The Quiron Project – see case study p. 205
43
The Children’s Investment Fund
Foundation
7 Clifford Street
London, W1S 2WE
United Kingdom
Tel +44 207 440 2357
Email info@ciff.org
Website www.ciff.org
OVERVIEW
Mission The Children’s Investment Fund Foundation (UK) (CIFF) aims to
demonstrably improve the lives of children living in poverty in
developing countries through large-scale and sustainable impact.
Year of origin 2002
INVESTMENT
Asia
Environment
Health
Target organisations Type: Charity without trading
Annual expenditure on VP €31.7million (Sept. 2008 - Aug. 2009)
Funding available Size of endowment: €1.6 billion
VP average investment size €2 million (based on Sept. 2008 - Aug. 2009 data)
Average duration of the VP 3- 5 years
support
Governance
Change management
Networks
Examples of investment See case study p. 206

44
The Children’s Investment Fund
Foundation
CIFF’s goals are to:
yy discover high-impact investing opportunities to unleash positive outcomes for children;
yy design interventions with entrepreneurial and growth-oriented partners to tackle these issues
directly;
yy deliver breakout performance through deep, active and rigorous engagement;
yy support initiatives with potential to transform the landscape for children;
yy be a leader in international philanthropy by proactively and consistently delivering measurable
and large-scale results.
45
d.o.b foundation
IJsseldijk 1
8194 LA Veessen
The Netherlands
Contact Jacqueline van der Beek
Tel +31 578631111
Website www.dobfoundation.nl
OVERVIEW
Mission d.o.b foundation invests in and supports social entrepreneurs who
identify commercial opportunities in social issues. The foundation
strives for a structural improvement of the wellbeing of people who are
marginalized or living in poverty.
Year of origin 1997
Headquarters location Veessen, The Netherlands
INVESTMENT
Geographical focus The Netherlands
Africa
Funding available approx. €5 million per year
VP average investment size €200,000 – €3 million
support
Convertible loan
Mezzanine finance
Equity
Convertible grant
Governance
Advice (e.g. legal, tax)
Networks
Examples of investment BASE Technologies – see case study p. 207
46
The EH Foundation
Kappelistrasse 41
704 Herrliberg
Switzerland
Contact Eva Helene Yazhari
Tel +41794690396
Email eva@theehfoundation.org
Website www.theehfoundation.org
OVERVIEW
Mission The EH Foundation’s goal is to be the partner of choice for both social
entrepreneurs and social philanthropists in sourcing, supporting and
scaling innovative ideas that directly and positively impact the lives of
the world’s most impoverished people.
Fund
Year of origin 2009
Headquarters location Zurich, Switzerland
INVESTMENT
Geographical focus Africa, Asia
Environment
Health
Social services
Cleantech
Microfinance
Phase: Social entrepreneur without formal organisation, pilot or start-
up, established but scaling up, mature
support
Types of financing Guarantee
Senior loan
Loan
Convertible loan
Mezzanine finance
Equity
Convertible grant

47
The EH Foundation
Governance
Legal advice
Networks
Examples of investment Healthpoint Services Global – see case study p. 208
EH Foundation supports high potential entrepreneurs with innovative business models helping
to fight poverty. Its investments address critical human needs, providing basic services, which are
not currently available through traditional markets. It believes in transparency, choice, market-base
solutions and in being part of one global community.
48
Ferd Social Entrepreneurs
P.O.Box 34
1324 Lysaker
Norway
Contact Katinka Greve Leiner
Tel +47 67 10 80 50 / +47 957 21 740
Email kgl@ferd.no
Website www.ferd.com
OVERVIEW
Mission Ferd Social Entrepreneurs supports social entrepreneurs who work to
help ensure that children and young people can realize their goals and
recognize that they do have opportunities.
Year of origin Ferd was established in 2001 and the business area Ferd Social
Entrepreneurs in 2009.
Headquarters location Lysaker, Norway
INVESTMENT
Geographical focus Norway
Social services
Annual expenditure on VP €440,000 in 2009
Funding available €2.5 million per year
support
Convertible loan
Equity
Convertible grant
Grant
Networks
Examples of investment UNICUS, New Page – see case study p. 209
49
Fondation Demeter
44, rue Vaneau

75007 Paris
France
Contact Pascal Vinarnic
Tel +33 (0)1 4548 8856
Email pascal@ceresfinance.com
OVERVIEW
Mission Help charities improve their operating processes and governance
principles so as to make the best use of their resources and to move
towards self-sufficiency.
Year of origin 1994
Headquarters location Paris, France
INVESTMENT
Geographical focus Worldwide
Social services
Microfinance
up
Annual expenditure on VP €20,000 - €50,000
Funding available Size of endowment: €300,000
VP average investment size €10,000 - €50,000
support
Types of financing Interest-free loan
Convertible loan
Equity (soon)
Convertible grant
Grant
Governance
Legal advice
Networks
Examples of investment Genera, Gente Nueva – see case study p. 210

50
Fondation Demeter
Though there is no geographical focus, Demeter provides very hands-on support to the programs
it supports, and thus will prioritize projects or organisations based close to Demeter’s resources
(France, Benelux, the UK, Latin America though non-exclusive). After over 10 years of involvement
with Microfinance institutions, Demeter’s current focus is with income-generating programs targeting
At-Risk Youth.
Relationships with beneficiary non-profits typically last between 5 to 7 years, often beginning with
advisory assistance and progressing to financial support after 6-to-12 months. Demeter ‘invests’
€10,000 to €50,000 annually, typically comprising 80% interest free loans (or a refundable financial
instrument) and 20% grants – disbursed over a 3-year period and to be reimbursed over the
subsequent three years.
51
Fondazione Oliver Twist Onlus
Address Via Bigli, 21

Milan 20121
Italy
Tel +39 (0)2 77718726
Email info@fondazioneolivertwist.org
Website www.fondazioneolivertwist.org
OVERVIEW
Mission Operate in the social field by setting up and supporting projects
designed to help minors in difficult circumstances.
Foundation
Year of origin 2005
Headquarters location Milan, Italy
INVESTMENT
Geographical focus Italy
Social services
support
HR management
Networks
Examples of investment The Scuola Oliver Twist project – see case study p. 211

52
Oliver Twist adopts a dual approach to its support, providing both cash donations and operational
involvement. It also may initiate its own projects. All projects are directly identified, supervised and
managed by Oliver Twist staff (including recruitment, development and project allocation of human
resources as well as project monitoring to conclusion).
In the coming years, Oliver Twist will seek to create concrete and close ties with the target
organisations, growing hand-in-hand with them. Its two key objectives are to:
yy directly run projects for the prevention of: social exclusion, dropping out of school, learning
disorders and the risk of delinquency; and
yy support dependable non-profit organisations by implementing specific projects designed to
tackle abandonment and abuse of minors.
53
Fondazione Paideia
Via San Francesco d’Assisi

44 – 10121 Torino
Italy
Contact Fabrizio Serra, Giorgia Salvadori
Tel + 39 011 5520236
Email info@fondazionepaideia.it
Website www.fondazionepaideia.it
OVERVIEW
Mission Fondazione Paideia was created as a result of the efforts of several
Turin families who were united by the desire to improve the life of the
most disadvantaged children, promoting projects and giving concrete
support to those daily involved in this delicate area.
Year of origin 1993
Headquarters location Torino, Italy
INVESTMENT
Sector focus Children, youth, Culture and recreation, Health, Social services,
Microfinance
Funding available Size of endowment: €11 million
Size of dedicated VP fund: €530,000
support
Grant
Governance
Networks
Examples of investment The Community Participation Project – see case study p. 212

54
Fondazione Paideia
The work of Paideia is guided by experience developed in the field, by careful evaluation of contexts
and needs, by the effectiveness of the answers, and these are carried out by working together with
public organisations and private social welfare groups, or aimed at individual families.
55
Good Deed Foundation
Rotermanni 8
10111 Tallinn
Estonia
Contact Mart Kuusk
Tel +372 630 9636
Email info@heategu.ee
Website www.heategu.ee
OVERVIEW
Mission Develop the field of social entrepreneurship in Estonia.

Year of origin 2003
Headquarters location Tallinn, Estonia
INVESTMENT
Geographical focus Estonia
Environment
Health
Social services
up, established but scaling up
Funding available Depends on project needs up to €500,000
VP average investment size From seed-funding up to €650,000
support
Loan
Grant
Example of investment Helping Hand – see case study p. 213

56
Change management
IT
Legal advice
HR management
Networks
Good Deed Foundation (GDF, Heateo SA in Estonian) is a launchpad for new and exciting social
initiatives. Its mission is to develop the field of social entrepreneurship in Estonia. It does this by (1)
supporting start-up and step change social enterprises in its portfolio, and (2) advocating that social
entrepreneurship is an effective way to solve burning social issues through communication, training
and lobbying.
The focus of GDF is its portfolio: projects and organisations that show the greatest potential to
solve pressing problems in Estonian society. They come from two sources – some are established
by GDF, others are found by regularly gauging the effectiveness of existing organisations. Once it
has determined the solutions with the greatest potential, it supports their realisation and growth by
means of both financial investment and professional consulting (e.g. volunteers from Swedbank, Hill
& Knowlton, Fontes, law offices etc.). The driving idea behind the support is to create the greatest
possible change in society.
In seven years it has fostered the development of more than 12 social initiatives. The best known
are the Estonian homeless football team, the educational program Noored Kooli / Youth to School,
which takes after Teach First (UK) and Teach For America (USA) and Estonian business coalition against
HIV. Common to all its initiatives, it picks out the ideas and solutions that have the greatest potential
to positively transform Estonian society. It helps to realise these ideas by applying the venture
philanthropy model, i.e. by engaging in long-term financial support and providing expert volunteers.
57
Impetus Trust
20 Flaxman Terrace
London WC1H 9PN
United Kingdom
Contact Nat Sloane
Tel +44 020 3 384 3940
Email info@impetus.org.uk
Website www.impetus.org.uk
OVERVIEW
Mission Impetus Trust works to break the cycle of poverty by investing
in ambitious charities and social enterprises that fight economic
disadvantage. Impetus achieves this through its highly effective model
of venture philanthropy which has three key components: unrestricted
strategic funding; very hands-on support from the Impetus investment
team and specialist support for capacity building, from experts who
volunteer their skills.
Fund
Year of origin 2002
INVESTMENT
Sector focus Economic Disadvantage, with special initiatives around reducing
reoffending and early intervention for vulnerable children.
Annual expenditure on VP €3.3 million in 2009-10, which includes both grants and the value of pro
bono expertise provided
VP average investment size €425,000 in unrestricted grants, plus a similar value in pro bono
expertise provided
support

58
Impetus Trust
INVESTMENT
Governance
Change management
IT
Legal advice
HR management
Networks
Examples of investment Speaking Up, St Giles Trust, Leap Confronting Conflict, Camfed
International, Fairtrade Foundation, Street League, FRC Group.
See case study p. 214
Impetus-supported charities and social enterprises were able to help more than 230,000
disadvantaged people in the last year alone. Their average annual growth in “people helped” was 56%
(08/09 figures); and their average growth in income was 40% (08/09 figures), which was more than
ten times the sector average. The special combination of funding, leveraged by co-investment, pro
bono expertise and Impetus investment team support, leads to the Impetus “turbo-charging” effect,
multiplying charities’ social impact many fold. Impetus is able to more than double the value of every
£1 it gives to investees, through co-investment and pro bono expertise.
59
Inspiring Scotland
Riverside House, 502 Gorgie Road

Edinburgh EH11 3AF
United Kingdom
Contact Andrew Muirhead
Tel +44 131 442 8760
Email enquiries@inspiringscotland.org.uk
Website www.inspiringscotland.org.uk
OVERVIEW
Mission Inspiring Scotland’s aim is to change people’s lives for the better
through significant long term funding and development support for
Scotland’s charities (“ventures”). It seeks to create sustained change
and to achieve long lasting impacts for Scotland’s most vulnerable
people and communities through partnership and collaboration and by
tackling tough social issues.
Year of origin 2008
Headquarters location Edinburgh, United Kingdom
INVESTMENT
Geographical focus Scotland
Annual expenditure on VP In 2009, €7.13 million invested in ventures and €4.6 million additional
income leveraged by ventures, both figures exclusive of the value of pro
bono support.
Funding available Fund size: €80.5 - €115 million approximately over 10 years
VP average investment size €600,000 - €6.6 million per venture
Average duration of the VP 5 -10 years, average of 8 years
support

60
Inspiring Scotland
Governance
Change management
IT
Legal advice
HR management
Estate management
Networks
Examples of investment 14:19 Fund – see case study p. 215
Inspiring Scotland is an innovative venture philanthropy organisation designed and developed in
response to the needs of Scotland’s charities (“ventures”), which is working with a range of investors,
all driven by a desire for social change, including The Scottish Government, trusts and foundations,
companies and high net worth individuals.
The first fund, the 14:19 Fund, targets 14 to 19 year olds struggling to make a successful transition
from school into education, training or employment - and the next stage of their lives. It was
launched in January 2008 and, in October 2008 an initial portfolio of 24 ventures was announced.
Inspiring Scotland’s anticipated investment of £55 million is likely to leverage additional investment
of £67 million from other sources. The 24 ventures will support 56,000 young Scots to take positive
steps towards education, training or employment. Over the period of investment, the ventures will
grow or replicate services and move towards financial sustainability.
Inspiring Scotland is presently considering a range of social issues to develop future funds.
61
Invest for children
Edificio Zurich
Via Augusta, 200, 1st floor
08021 Barcelona
Spain
Tel +34 93 240 57 55
Email info@investforchilren.org
Website www.investforchildren.org
OVERVIEW
Mission Understand diversity and working towards integration. Invest for
children (i4c) is a non-profit international organisation whose mission
is to help disabled children and young adults achieve a better quality
of life.
Year of origin 1999
Headquarters location Barcelona
INVESTMENT
Geographical focus Europe, with special focus on Southern Europe
Sector focus Differently-abled people
Target organisations Type: Charity with trading
Funding available €2 million
Non financial services Fundraising or revenue strategy
Examples of investment Invest for children has given, for the fourth time, 5 saving plans to 5
workers with Down Syndrome. The plans are signed at Caja Navarra.
Thus, this ambitious initiative benefits 20 workers now, investing a total
of €720,000.

62
Invest for children
Invest for children wants a society that integrates diversity. These are some ways Invest for children
applies VP:
yy Increase social awareness by sending messages to promote integration through books, DVDs and
press articles.
yy Help other foundations generate recurring revenues and achieve notoriety.
yy Provide support for employment integration initiatives.
yy Connect foundations and businesses to promote social integration.
yy Promote education as the cornerstone of a worthy future.
yy Encourage intellectually disabled people to learn, enjoy and benefit from sport.
yy Venture Capital Philanthropy, Private Capital, Public Benefit
63
LGT Venture Philanthropy
Glärnischstrasse 36
CH-8022 Zurich
Switzerland
Contact Wolfgang Hafenmayer
Tel +41 44 250 8281
Email info@lgtvp.com
Website www.lgt.com
OVERVIEW
Mission The objective of LGT Venture Philanthropy is to raise the sustainable
quality of life of less advantaged people especially those in the
developing world.
Fund
Year of origin 2007
INVESTMENT
Asia
Latin America
Sector focus Children
Youth
Environment
Health
Cleantech
Nutrition
Sustainable energies
Infrastructures for social investments
Water
Resource management
Funding available Size of dedicated VP fund: €10 million p.a.
VP average investment size €200,000 - €1 million
support

64
Subordinated loan
Convertible loan
Equity
Grant
Drawdown facility
Change management
HR management
Networks
Examples of investment Bridge International Academies (BIA) - Kenya – see case study p. 217
LGT Venture Philanthropy:
yy Invests financial, social and intellectual capital in young, strongly growing organisations with
innovative social and environmental solutions .
yy Advises people in structuring their philanthropic engagement through individual advisory and
philanthropy workshops.
yy Inspires people for active philanthropy through various events and the House of Philanthropy
Solutions (launching in Zurich in the summer of 2011).
65
NESsT Europe
Bajcsy-Zsilinszky u. 58. 1/6

Budapest 1054
Hungary
Contact Eva Varga, Enterprise Development Director
Tel +361 267 0231
Email nesst@nesst.org
Website www.nesst.org
OVERVIEW
Mission NESsT is an international non-profit organisation working to solve
critical social problems in emerging market countries by developing
and supporting social enterprises that strengthen civil society
organisations’ financial sustainability and maximize their social impact.
Year of origin 1997 (NESsT Venture Fund founded in 2001)
Headquarters location Budapest, Hungary
INVESTMENT
Geographical focus Croatia, Czech Republic, Slovakia, Hungary, Romania
Latin America
Target organisations Type: Charity without trading, social enterprise
Funding available NESsT Venture Fund: €943,000
VP average investment size Early stage support: €1,300
Later stage support: €40,000 (over a 3-year period)
Loan: €44,000 (new)
Average duration of the VP 3 years with multiple rounds of financing of venture grants
support
Equity
Grant
Governance
HR management

66
NESsT Europe
Examples of investment Venture grants, venture planning grants, one-on-one capacity building/
mentoring, extensive pro-bono professional services from local
Business Advisory Network, and leveraged funds from other local
donors and business leaders through NESsT investors Circle, Social
Enterprise Loan Fund, Equity Share.
NESsT Europe is the European branch of NESsT International. NESsT is an international, non-profit
organisation dedicated to finding solutions to critical social problems through the development of
social enterprises – mission-driven businesses that increase the financial sustainability and social
change impact of civil society organisations. NESsT applies a venture capital/private equity approach
to supporting social enterprises with financial capital and business mentoring.
The NESsT Venture Fund for Central and Eastern Europe currently supports social enterprises
in Croatia, the Czech Republic, Hungary, Romania, Slovakia, and is expanding to include other
neighboring countries. Since its founding in 2001, the NESsT Venture Fund has reached over 2,600
social enterprises in Central Europe and Latin America with over US$4 million in financial and capacity
support.
67
Noaber Foundation
Dorpsstraat 14, PO BO 20
6740 AA Lunteren
The Netherlands
Contact Pieter Oostlander (director)
Tel + 31 318 59 64 00
Email poostlander@noaber.com
Website www.noaber.com
OVERVIEW
Mission The Noaber Foundation aims to initiate and support the acceleration
of innovations in the civil society where ‘noabership’ (neighbourship)
is key. These innovations are related to health and care, education and
community building. To reach their aims, they act as an ‘entrepreneurial
philanthropist’.
Year of origin 2000
Headquarters location Lunteren, The Netherlands
INVESTMENT
Geographical focus Europe
Africa
Asia
North America
Sector focus Culture and recreation
Health
VP average investment size €10,000 - €1 million for donation projects
€100,000 - €3 million for social investments
Average duration of the VP Donation projects: 1-5 years
support Social Investments: 5-10 years till e.g. exit
Senior loan
Loan
Subordinated loan
Convertible loan
Mezzanine finance
Equity
Convertible grant
Grant
Credit Facilities

68
Noaber Foundation
Governance
HR management
Examples of investment Back on Track
Type: Donation (potential social investment)
Social Issue: Ex-prisoners often face unemployment and disturbed
relations after detention. As a result of that, statistics learn that 66%
re-offends within 4 years.
Solution: Certified training programs and mediation leading to
employment and integration with the involvement of volunteers.
Look and Learn
Type: Social investment
Social issue: Lack of reading abilities cause delay and/or stagnation
in the educational career and social life of children (isolation and
continuation of dependency).
Solution: Computer-based tool (school and home-edition) and teacher
training sessions.
Mentalshare – see case study p. 219
69
Oltre Venture
Corso Vercelli, 11
20144 Milan
Italy
Contact Luciano Balbo
Tel +39 0245496412
Email luciano.balbo@oltreventure.com
info@oltreventure.com
Website www.oltreventure.com
OVERVIEW
Mission Oltre Venture is the first Italian Social Venture Capital Company, an
innovative financial tool aimed at supporting social enterprises. The
company supports the growth of enterprises which are able to match
social value and economic sustainability. Such enterprises appeal to
the grey area of invisible hardship and to the fragile social-economic
problems such as housing discomfort, unemployment, solitude and
marginalization.
Type of organisation Fund
Year of origin Fondazione Oltre: 2002
Oltre Venture, social venture capital fund: 2006
Headquarters location Milan, Italy
INVESTMENT
Health
Microfinance
up
Annual expenditure on VP € 2.5 million
Funding available Fund size: €8 million
support
Shareholders loan
Governance

70
Oltre Venture
Examples of investment Medical Center “Santagostino” – Milan, Italy
It’s a start-up, opening in autumn 2008. The initiative will provide basic
specialised healthcare services prevalently in areas where the National
Health Service is largely absent as dental surgeries and psychological
services.
It will experiment an innovative model integrated with the public sector
and offering a strong relational support.
The centre aims at supplying high-quality medical and social-relational
services at reasonable prices to respond to the healthcare demand
of an increasing number of people, who are not living in extremely
depressed conditions, but find it difficult to access both the National
Health Services, as they are insufficient, and the private sector’s prices
as they are unaffordable.
See additional case study p. 220
Oltre Venture also manages Fondazione Oltre, a small foundation that works as an incubator of social
enterprises giving small grants and capacity building support to incubate the start-up of interesting
projects with leading social entrepreneurs.
71
The One Foundation
35 Barrow Street
Dublin 4
Ireland
Contact Deirdre Mortell
Tel +353 1 8088800
Email info@onefoundation.ie
Website www.onefoundation.ie
OVERVIEW
Mission Improve the life chances of disadvantaged children and young people.
One Foundation invests in mental health, integration of minorities and
social entrepreneurship.
Year of origin 2004
Headquarters location Dublin, Ireland
INVESTMENT
Geographical focus Ireland
Asia
Sector focus Advocacy
Children, youth
Phase: Pilot or start-up, established but scaling-up, mature
VP average investment size €1.2 million
Average duration of the VP More than 3 years
support
Coaching, mentoring of the management team
Governance
Examples of investment Headstrong – see case study p. 221
72
PhiTrust
41 rue Boissy d’Anglas

75008, Paris
France
Contact Florence Goudchaux, Martina von Richter
Tel +33 1 55 35 07 55
Email florence.goudchaux@phitrust.com, martina.vonrichter@phitrust.com
Website www.phitrustpartenaires.com
OVERVIEW
Mission PhiTrust is dedicated to funding and mentoring companies in the fields
of social business through its foundation and social investment funds.
Phitrust focuses its investments both at a European level as well as a
worldwide level.
Foundation
Fund
Year of origin 2004
INVESTMENT
Environment
Health
Cleantech
Microfinance
Employment
Target organisations Type: Charity without trading, charity with trading, social enterprise, VP
fund
Funding available Size of fund 1 (PhiTrust Partenaires): €7 million
Size of fund 2 (ISF Solidaire): €1 million
The funds for the Fonds de Dotation (French endowment fund) are
currently being raised.
support

73
PhiTrust
Convertible loan
Equity
Convertible grant
Grant
Governance
Legal advice
Networks
Examples of investment France
yy Alter Eco: Production and distribution of faire trade products
yy Ecodair: Job access for the psychologically handicapped through
reconditioning of IT equipment
yy La Varappe: Social reintegration through employment (see case
study p.XXX)
Belgium
yy Ethical Property Europe: Green business centres aimed at not for
profit organisations
Germany
yy Dialogue Social Enterprise: Job access for the handicapped through
progressive integration
Italy
yy Permicro: Microcredit to unbanked families and individuals in Italy
Africae
yy Cameroun Breuvages: Production and distribution of safe and
affordable drinking water
yy Laiterie du Berger: Dairy production in Senegal
74
Social Venture Fund
Social Venture Management GmbH

Sendlinger Strasse 7
80331 München
Germany
Contact Johannes Weber
Tel +49(0)69-609184-15 (Frankfurt Office)
Email jw@socialventurefund.com
Website www.socialventurefund.com
OVERVIEW
Mission The Social Venture Fund invests in Social Businesses, which have
innovative and entrepreneurial driven solutions for urgent social and
environmental challenges.
The Fund provides support when it is not possible to acquire traditional
sources of capital. Therefore the Social Venture Fund closes a financing
gap and acts as a catalyst for the comprehensive distribution of creative
ideas and solutions for the better. The Social Venture Fund‘s goal:
preserve and recycle invested capital for future investments.
Type of organisation Social enterprise
Year of origin 2010
INVESTMENT
Funding available Fund size: approx. €5 million
VP average investment size €500,000 - €1,500,000
support
Loan
Subordinated loan
Convertible loan
Mezzanine finance
Equity

75
Social Venture Fund
Change management
Legal advice
HR management
Networks
For investors, the Social Venture Fund is a unique way to enable and participate in successful, as well
as sustainable social change, by investing into carefully selected companies. The Social Venture Fund
is supported by the global Ashoka Social Financial Services Initiative. To use the fund’s capital for the
most effective social impact, the Social Venture Fund focuses on financing the growth and expansion
of already proven and successful Social Businesses.
76
Start Foundation
Klokgebouw 188
5617 AB Eindhoven
The Netherlands
Contact Jos Verhoeven
Tel +31(0)40-2461850
Email jos.verhoeven@startfoundation.nl
Website www.startfoundation.nl
OVERVIEW
Mission Start Foundation aims for a labour-market that welcomes everybody.
Start Foundation supports those initiatives that focus on disadvantaged
people who have no or limited access to the labour market. The support
consists of financial resources and supply of contacts and expertise.
Type of organisation Foundation, Fund
Year of origin 1999
Headquarters location Eindhoven, The Netherlands
INVESTMENT
Geographical focus The Netherlands
Labour market
Funding available Undisclosed
support
Loan
Subordinated loan
Convertible grant
Grant
HR management

77
Start Foundation
Examples of investment www.deverbindingbv.nl
www.validexpress.nl
www.ctaste.nl
www.deprael.nl
www.koersvast-heroes.nl
See Start Foundation website: www.startfoundation.nl (also in English)
78
Stiftung Charité
Charitéplatz 1
10117 Berlin
Germany
Contact Katharina Bergel
Tel +49 (0) 30 450570 - 508
Email bergel@stiftung-charite.de
Website www.stiftung-charite.de
OVERVIEW
Mission Stiftung Charité is a private non-profit foundation endowed by German
entrepreneur Johanna Quandt. Its mission is to identify, enable
and invest in change makers and knowledge entrepreneurs in the
biomedical sciences - primarily at Charité - Universitätsmedizin Berlin,
the largest medical university in Europe.
Year of origin 2005
Headquarters location Berlin, Germany
INVESTMENT
Geographical focus Europe (Germany and wider Europe)
North America
Sector focus Health
Biomedicine, Medical Technology
Target organisations Type: Charity without trading, separate venture fund
Phase: Pilot or start-up
Funding available For profit VC fund: €24 million
Foundation: €25 million (all)
Types of financing Subordinated loan
Governance
HR management
Examples of investment See case study p. 223

79
Stiftung Charité
Stiftung Charité’s efforts are aimed at re-inventing the venture philanthropy model to
support entrepreneurship in and around the life sciences in Germany, especially at Charité –
Universitätsmedizin Berlin.
As a non-profit foundation, Stiftung Charité selects and supports knowledge entrepreneurs in
academic medicine – change makers among medical doctors, researchers and health care managers.
It provides milestone-driven grants, coaching and conceptual support as well as political and
sometimes operational assistance.
Stiftung Charité’s medium-term goal is to develop a comprehensive medical innovation system in
Berlin.
80
Venture Partnership Foundation
105 Wigmore Street

London, W1U 1QY
United Kingdom
Contact Mike Risman, Siobhan Hardwicke
Tel +44 (0) 207 518 2825
Email info@vpf.org.uk
Website www.vpf.org.uk
OVERVIEW
Mission A grant-making foundation dedicated to supporting social
entrepreneurs and the dynamic charities that they run. The foundation
provides social entrepreneurs with a package of support, including
flexible financial help.
Year of origin 2005
INVESTMENT
Africa
Asia
Latin America
Health
Funding available Undisclosed
Average duration of the VP 3 – 5 years
support
Grant

81
Governance
Change management
IT
Legal advice
Networks
Examples of investment Riders for Health, Kids Company, Basic Needs, Training for Life – see case
study p. 224
The Venture Partnership Foundation is a charitable foundation dedicated to supporting social
entrepreneurs. VPF aims to create positive change in the lives of the most vulnerable by investing
long-term unrestricted funds and pro-bono resources in high impact, entrepreneurial social ventures
working across the world. With a unique membership model, it aspires to influence the culture of
giving by unleashing the creative power of volunteering and networks to be a force for good.
82
Voxtra
Haakon VII’s gate 1; P.O.Box 1585 Vika

N-0118 Oslo
Norway
Contact Pål Dale (Managing Director)
Tel +47 9756 8485
Email pd@voxtra.org
Website www.voxtra.org
OVERVIEW
Mission Empower people at the base of the pyramid to lift themselves out of
poverty.
Year of origin 2008
Headquarters location Oslo, Norway
INVESTMENT
Asia
Sector focus Livelihoods, income generation, agriculture
Funding available Size of dedicated VP fund: €9 million
VP average investment size €1.75 million
support
Types of financing Senior loan*
Loan*
Subordinated loan*
Convertible loan*
Mezzanine finance*
Equity*
Convertible grant*
Grant
*not used yet, but are actively exploring
Non financial services Coaching, mentoring of the CEO or the management team
Governance
Change management
Main VP activity, as Voxtra defines it, is a meticulous follow-up of the
investees’ progress on carefully defined key performance indicators,
and the operational discussions that result from that.

83
Voxtra
Examples of investment International Development Enterprises, India – see case study p. 225
Voxtra applies business-like investment discipline in identifying, assessing and monitoring social
enterprises and development programs. To date, the foundation has screened more than 200 projects
and organisations, and invested in four, with an average amount of €1.75 million. Its geographic focus
is India and East Africa. Its main sector focus is agriculture and livelihoods/income generation.
Voxtra analyzes the expected socio-economic value creation of its investments ex ante, and reports
on it ex post. The reporting is audited by KPMG through a pro bono partnership.
84
Wood Family Trust
John Wood House

Greenwell Road
Aberdeen AB11 7TF
United Kingdom
Contact Jo Mackie
Tel +44 1224 373176
Email jo.mackie@woodgroup.com
Website www.woodfamilytrust.org
OVERVIEW
Mission Develop and support individuals to become independent, contributing
and caring members of society.
Year of origin 2007
Headquarters location Scotland, United Kingdom
INVESTMENT
Geographical focus Scotland
Africa
Target organisations Private sector
Funding available Size of dedicated VP fund: €60 million
VP average investment size €50,000 – €1 million
support
Loan
Equity
Grant
Governance
Change management
Networks

85
Wood Family Trust
The Wood Family Trust (WFT) was established by Sir Ian Wood and his immediate family and officially
launched on the 14 September 2007 and is a Scottish-based Trust with a global outlook.
WFT will aim to invest £50 million into economic, community and enterprise activities in East Africa
and Scotland over the next 5–10 years with the aim to develop and support individuals to become
independent, contributing and caring members of society.
86
Associate
Members
3i Group plc
16 Palace Street
London SW1E5JD
United Kingdom
Contact Patrick Dunne
Tel +44 20 7928 3131
Email patrick.dunne@3i.com
Website www.3i.com
OVERVIEW
Mission 3i’s vision is to be recognised as a leading international investor based
on the value it adds to its portfolio; the returns it delivers to investors
and its responsible approach and style of investing.
Year of origin 1945
Headquarters location London, United Kindom
Activities International investor
INVOLVEMENT IN VP
3i applies venture philanthropy principles to the social enterprises that it works with, and a number of
its staff are board members of charitable organisations, where VP principles are applied.
3i is an international investor focused on buyouts, growth capital and infrastructure, investing in
Europe, Asia and North America. As of 31 March 2010, 3i had assets under management of £10 billion.
With a pioneering heritage over sixty years, 3i was delighted to be one of the founding sponsors of
EVPA. As a FTSE100 company since 1994, 3i has a well developed approach to corporate responsibility.
91
ABN AMRO Private Banking
Gustav Mahlerlaan 10 (HQ1036)

1082 PP Amsterdam
The Netherlands
Contact Eric Buckens, Head Private Wealth
Management Products & Solutions
Tel +32 20 383 7166
Email eric.buckens@nl.abnamro.com
Website www.abnamroprivatebanking.com
OVERVIEW
Mission ABN AMRO Private Banking is the international wealth-management
division of ABN AMRO Bank with €150 billion* of total assets under
management, offering more than 120,000 high-net-worth individuals
a full range of banking, investment management, financial and estate
planning products and solutions.
*Annual reports of ABN AMRO Bank and Fortis Bank Nederland for 2009
Year of origin 1720
Headquarters location Amsterdam, The Netherlands
Activities Banking, investment management, financial and estate planning
products and solutions
INVOLVEMENT IN VP
Supporter of the EVPA annual conference in Amsterdam as well as organisation of joint seminar with
ABN AMRO Private Wealth Management in 2009.
ABN AMRO Private Banking’s domestic and international offices in 13 markets worldwide employ
over 4,000 professionals and include the respected private banks ABN AMRO MeesPierson in the
Netherlands, Delbrueck Bethmann Maffei in Germany and Neuflize OBC in France. ABN AMRO Private
Banking ranks amongst the top 10 private banks in Europe and enjoys a strong position in Asia.
92
Actis
2 More London Riverside

London SE1 2JT
United Kingdom
Contact Tanya Lobel
Tel +44 20 7234 5000
Website www.act.is
OVERVIEW
Mission Actis is a leading investor in emerging markets, investing exclusively in
emerging Asia, Africa and Latin America for more than 60 years.
Activities Private Equity
INVOLVEMENT IN VP
Actis is committed to promoting the sustainable growth of the private sector in emerging markets.
Its aim is to ensure that the capital it raises and manages makes a lasting, tangible and positive
difference in the countries in which it operates. Actis’s focus on responsible investment not only aims
to create long-term value for investee companies and investors, but simultaneously helps make a
positive contribution to society.
Actis has specialist teams dedicated to private equity, infrastructure and real estate with a track
record built on growth capital and leadership investing across its markets. Actis has more than 100
investment professionals in nine offices worldwide who currently manage funds of US$4.8bn on
behalf of more than 100 institutional investors. Actis closed its latest global pan-emerging markets
private equity fund, Actis Emerging Markets 3, at US$2.9bn in November 2008. Actis uses sector
expertise, global perspective and local insight to help portfolio companies develop into world-class
businesses.
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AlphaMundi Group Limited
alphamundi
Augustinergasse 21
CH-8001 Zurich
Switzerland
Tel +41 44 5080 556
Email tim.radjy@alphamundi.ch
Website www.alphamundi.ch
OVERVIEW
Mission Help achieve significant and self-sustaining poverty reduction and
environmental preservation in developing countries through Impact
Investing Solutions and Consulting.
Year of origin 2007
SERVICES
Types of services Investment strategy
Strategy consulting
Target audience Donors
Foundation
Social Purpose Organisations
Government
Impact Investors
Geographical focus Developing countries
Sector focus Education and research
Microfinance
Sustainable Agriculture
Renewable Energy
The AlphaMundi Group Ltd was formally established by 10 business partners in 2007 as a commercial
venture with a social mission, and is headquartered in Zurich, Switzerland.
The Group achieves its mission by designing social investment products across various asset classes in
order to help mobilise a greater share of the capital markets in favor of sustainable development and
responsible investments. The Group also provides strategic advisory services to selected NGOs and
social investors in order to enhance their use of civil society’s resources, on topics such as value-chain
giving, replication and scaling processes, and endowment management
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Appui au Développement Autonome (ADA)
2, rue Sainte Zithe

L-2763 Luxembourg
Contact Axel de Ville, Marion Bur
Tel +352 45 68 68 1
Email axel.ada@microfinance.lu
marion.ada@microfinance.lu
Website www.microfinance.lu
OVERVIEW
Mission Appui au Développement Autonome (ADA) acts with partners to
increase access to inclusive financial services (bank accounts, loans,
saving schemes or money transfers) for millions of people worldwide,
for whom traditional bank services are inaccessible.
Year of origin 1994
Headquarters location Luxembourg
Activities Financial and non financial support to microfinance institutions
INVOLVEMENT IN VP
ADA, expert in microfinance, has for over 15 years been initiating innovative concepts that have been
successfully tried out and developed through microfinance institutions in the South.
ADA’s activities focus on the following four areas:
yy Research and development of innovative financial services for the poor
yy Capacity building of microfinance institutions
yy Knowledge management and awareness raising
yy Partnerships and networking
ADA is supporting the 2010 EVPA Annual Conference through the European Impact Financing
Luxembourg.
ADA is coordinator of the secretariat of the Microinsurance Network, the African Microfinance
Transparency Forum and the Rating Initiative Program, advisor of the Luxembourg Microfinance and
Development Fund (LMDF) and a partner of Etika, Luxflag, and the European Microfinance Platform
(e-MFP). ADA is a non-profit organisation under the High Patronage of H.R.H. the Grand Duchess of
Luxembourg.
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Arendt & Medernach
14 rue Erasme
L – 2082 Luxembourg
Contact Gilles Dusemo, Katia Gauzès
Tel +352 40 78 78 302
Email gilles.dusemon@arendt.com
katia.gauzes@arendt.com
Website www.arendt.com
OVERVIEW
Presentation Arendt & Medernach is a leading, independent, full-service law firm. The
firm’s international team of more than 270 legal professionals provides
services to clients from offices in Luxembourg, Brussels, Dubai, Hong
Kong, London and New York.
Arendt & Medernach’s philosophy is expressed through its five values:
vision, commitment, people, independence and energy. It strives for
excellence in order to achieve the best results for its clients and always
looks for creative solutions.
Arendt & Medernach’s expertise extends to specialist practice areas to
offer its clients a complete range of services tailored to their individual
needs across all areas of finance and commercial law.
In order to provide its clients with unparalleled legal advice, Arendt &
Medernach has developed specific expertise in five key industry groups
within the firm: Investment Management, Banking & Insurance, Private
Equity, Real Estate, Multinational Companies and Public Sector. These
industry groups have a deep understanding of their clients’ businesses
from a commercial, economic and legal point of view.
Type of organisation Partnership
Year of origin 1988
Activities Administrative Law, Property and Construction, Bank Lending,
Structured Finance, Banking and Financial Services, Capital Markets
Corporate and Tax Compliance Services, Corporate Law, M&A
Dispute Resolution, Employment Law, Pensions, Benefits
EU & Competition Law, Insurance and Reinsurance Law, IP, Commercial,
Communication and Technology, Private Wealth, Regulated Investment
Funds, Tax Law
INVOLVEMENT IN VP
Arendt & Medernach supports the EVPA 2010 Annual Conference.
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Argos Soditic
14 rue de Bassano
75783 Paris Cedex 16
France
Tel +33 1 53 67 20 50
Email contact@argos-soditic.com
Website www.argos-soditic.com
OVERVIEW
Presentation Argos Soditic is an independent European private equity partnership
with offices in Paris, Geneva and Milan, which focuses on investing in
small to medium-sized companies in continental Europe, particularly
in France, Italy and Switzerland. Its current funds (Euroknights IV and
Argos Soditic V) represent an aggregate committed capital of €420
million.
Year of origin 1990
INVOLVEMENT IN VP
Argos partners are providing help and advice to Image et Avenir (an association promoting access
to culture in prisons) in its development and Medecins Sans Frontière in the management of its non-
listed assets.
During its 20 years of existence, Argos Soditic has backed over 40 transactions with companies
representing combined revenues in excess of €3 billion, more than half of which have been realised
through flotation or trade sale.
Funds advised by Argos Soditic seek majority equity positions ranging from €10 million to €30 million.
Its approach places great importance on entrepreneurship and long-term partnership with managers,
based on mutual trust. Argos Soditic prizes flexibility and reactivity and has total independence in
investment decisions (upon consensus of the partners).
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ASCRI
Príncipe de Vergara, 55- 4º D

28006 Madrid
Spain
Contact Dominique Barthel, General Director
Tel +34 91 411 96 17
Email dominique@ascri.org
Website www.ascri.org
OVERVIEW
Mission Represent and promote the Private Equity & Venture Capital industry in
Spain.
Year of origin 1986
Headquarters location Madrid, Spain
Activities Private Equity and Venture Capital Association in Spain
INVOLVEMENT IN VP
ASCRI’s main purpose as an EVPA member is to help promote venture philanthropy in Spain and
disseminate among all ASCRI members this model of social development.
ASCRI is a non profit entity which represents the Private Equity & Venture Capital Sector in Spain and
currently has more than 150 members. Its main objectives are to lobby the government, represent
and defend the professional interests of its partners, organise conferences, workshops and meetings
related to the private equity and venture capital industry, as well as compile and publish reports and
surveys. ASCRI joined EVCA (European Venture Capital & Private Equity Association) in 1986.
98
The Ashden Trust
Allington House (1st Floor)

150 Victoria Street
London SW1E 5AE
United Kingdom
Tel +44 20 7410 0330
Email ashdentrust@sfct.org.uk
Website www.ashdentrust.org.uk
OVERVIEW
Mission The Ashden Trust is a grant making charity focusing on climate change,
sustainable development and improving the quality of life in poorer
communities.
Year of origin 1989
INVESTMENT
Environment
Equity
Grant
The Ashden Trust has a social investment fund, which supports charitable activities through loans (at
rates equivalent to commercial and low-interest loans) and in some cases, takes an equity stake in
organisations which meet the trust’s charitable objectives.
The Trust also funds The Ashden Awards for Sustainable Energy which reward and promote excellent
local sustainable energy solutions in the UK and the developing world.
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Banque de Luxembourg
14, Boulevard Royal

L – 2449 Luxembourg
Contact Philippe Depoorter
Tel +352 49 924 -3319
Email philippe.depoorter@bdl.lu
Website www.banquedeluxembourg.lu
www.philanthropie.lu
OVERVIEW
Mission Firmly rooted in Luxembourg, Banque de Luxembourg’s original
approach to its profession sets it apart. Banque de Luxembourg’s aim is
to support each client at every stage of their lives and help them bring
their projects to fruition. The solid long-standing relationships with
its clients are built on a set of key values that stress personal contact,
attentiveness to clients’ needs, trust and discretion.
Year of origin 1920
Activities Private Banking and Investment Funds
INVOLVEMENT IN VP
Since 2008, Banque de Luxembourg has been a pioneer in promoting the development of
philanthropy in Luxembourg. Currently, the bank develops its philanthropic activities in the following
three areas:
yy Philanthropic advice for individual clients
yy Asset Management for Foundations
yy Engineering of Impact Financing vehicles
Banque de Luxembourg took the initiative to co-organize and to co-support the 6th Annual EVPA
Conference taking place in Luxembourg on November 16 and 17, 2010.
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Banque Degroof
Rue de L’Industrie 44
1040 Brussels
Belgium
Contact Marc Flammang, Pierre Paul de Schrevel
Tel +32 2 287 91 11
Email mrf@degroof.be
Website www.degroof.be
OVERVIEW
Mission Wealth Manager , Investment Bank
Year of origin 1871
Headquarters location Brussels
Activities Wealth Management, M&A, Bank, Philanthropy Advisor
INVOLVEMENT IN VP
Encourage clients & friends to be involved in and guide them towards Social Entrepreneurship
(including Venture Philanthropy).
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Barclays Private Equity
Condor House
St Paul’s Churchyard
London EC4M 8AL
United Kingdom
Tel +44 207 653 5306
Email christiian.marriott@bpe.com
Website www.bpe.com
OVERVIEW
Presentation Barclays Private Equity (BPE) is one of Europe’s leading mid-market
private equity investors. It invests as a strategic partner alongside
management teams, working together to build and realise shareholder
value. It has a strong focus on change of ownership deals and a core
focus on businesses with an enterprise value of between €25m and
€250m.
Year of origin 1982
Activities Mid-market Private Equity investor.
INVOLVEMENT IN VP
BPE is a founder sponsor of the European Venture Philanthropy Association and, through its
association with Barclays Capital, works with Impetus Trust in the UK to provide pro bono associate
support to portfolio charities.
Barclays Private Equity’s buy-out business has a team of 40 investment professionals in seven offices
across five countries. It has a track record spanning over 25 years and has invested in over 350
businesses.
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Bertelsmann Stiftung
Carl-Bertelsmann-Straße 256
D-33311 Gütersloh
Germany
Tel +49 5241.810
Email info@bertelsmann-stiftung.de
Website www.bertelsmann-stiftung.de
OVERVIEW
Mission In keeping with the long-standing commitment of its founder, Reinhard
Mohn, the Bertelsmann Stiftung is dedicated to promoting the public
good. The Bertelsmann Stiftung is an operating foundation.
Year of origin 1977
Headquarters location Gütersloh, Germany
INVESTMENT
Health
Economic and social affairs
International relations
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BMW Stiftung Herbert Quandt
Reinhardtstraße 58
10117 Berlin
Germany
Tel +49-30-33693500, +40-89-38211630
Email info@bmw-stiftung.de
Website www.bmw-stiftung.de
OVERVIEW
Mission Support leaders who, in their professional and personal lives, take into
consideration the greater common good and who are committed to
developing a lively civil society in cooperation with others.
Deal with questions of globalisation and thus contribute to an
international dialogue on sociopolitical issues.
Use scholarly expertise and promote interdisciplinary and cross-sectoral
approaches.
Provide guidance by making visible successful socio-political
commitment and promoting the dissemination and development of
innovative pilot projects.
Year of origin 1970
INVESTMENT
Asia
Environment
Target organisations Type: selected organisations with a social purpose
Phase: no focus
Types of financing Grants
Non financial services Networks
Consulting
104
BNP Paribas Wealth Management
33, rue du Quatre-Septembre

75002 Paris
France
Tel +33 1 55 77 74 94
Email See additional information
Website www.privatebank.bnpparibas.com
OVERVIEW
Presentation BNP Paribas Wealth Management is part of the banking group BNP
Paribas, which is strongly committed to sustainable development.
Year of origin 2008 (philanthropy), 2006 (SRI)
Activities Wealth Management, Philanthropy and SRI
INVOLVEMENT IN VP
In the early 1980s, the bank led the way in corporate giving with the corporate Fondation BNP Paribas
supporting cultural heritage, promoting solidarity and encouraging medical research. Besides, BNP
Paribas has been involved in micro-loans and expanding its support for international microfinance for
15 years.
BNP Paribas Wealth Management is the Eurozone’s leading Private Bank, which has been assisting
its wealthy clients in financial management and asset planning matters for over a century. In order
to answer its clients’ needs, BNP Paribas Wealth Management has set up a unique Alternative
Investments Offering, providing advice, among other high-values services, on Philanthropy and
Sustainable and Responsible investments (SRI).
The Fondation de l’Orangerie for individual philanthropy was established by BNP Paribas Wealth
Management to collect donations from its clients and allocate them in the most efficient manner
to transparent and original projects rigorously selected. This grant-making foundation uses the
following VP practices: high-engagement, multi-year support and performance measurement.
Advisory services are available to help clients develop and implement “green-field” philanthropy
projects and cover the 4 following stages: strategy, structuring, implementation and evaluation. Some
of the clients accompanied wish to adopt VP practices for their project.
Email addresses:
Alternative investments thibault.couturier@bnpparibas.com
Philanthropy nathalie.sauvanet@bnpparibas.com
SRI bertrand.gacon@bnpparibas.com
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Bridges Social Entrepreneurs Fund
1 Craven Hill
London W2 3EN
United Kingdom
Contact Antony Ross
Tel +44 (0)20 7262 5566
Email info@bridgesventures.com
Website www.bridgesventures.com
OVERVIEW
Mission Bridges Ventures is a sustainable growth investor established in 2002
with a mission to use its commercial expertise to achieve focused social
or environmental benefit, as well as attractive returns for investors.
Bridges Ventures has raised four funds to date: Venture Funds I & II, the
Bridges Sustainable Property Fund and the Bridges Social Entrepreneurs
Fund.
The Bridges Social Entrepreneurs Fund is an impact first fund that
invests in scalable social enterprises delivering high social impacts and
operating sustainable business models.
Year of origin Bridges Ventures: 2002
The Bridges Social Entrepreneurs Fund: 2009
INVESTMENT
Environment
Health
Social services
Training
Care
Well-being
Funding available Fund size: €10.8 million
VP average investment size €600,000 - €1.8 million
Average duration of the VP Unspecified
support

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Bridges Social Entrepreneurs Fund
Types of financing Subordinated loan

Convertible loan
Mezzanine finance
Equity
Governance
Change management
HR management
Networks
The Bridges Social Entrepreneurs Fund aims to address the funding gap often faced by fast growing
social enterprises looking to scale. Seeded by the Bridges Charitable Trust in 2008, the fund was
launched in August 2009 and has so far raised £9m for investment in scalable social enterprises
delivering high social impacts and operating sustainable business models. Investments may be in
charities or companies limited by guarantee as well as private limited companies, and will typically
take the form of equity or equity-like capital, whereby returns are linked to the performance of the
business. For further information please visit http://www.bridgesventures.com/social-entrepreneurs-
fund.
107
Business Angels des Cités (BAC)
Partenaires Gestion
17, avenue Gourgaud

75007 Paris
France
Contact b.desaintpierre@scr-bac.fr
Tel +33 1 42 27 47 70
Website www.scr-bac.fr
OVERVIEW
Mission Business Angels des Cités (BAC) is a private venture capital fund with
a social mission. It invests in companies created by entrepreneurs
coming from the deprived areas of France or in companies creating
employment in these areas. It aims to achieve financial returns for its
investors as well as a social purpose: demonstrating that enterprise can
be a success model for these young people.
Year of origin 2008
INVESTMENT
Geographical focus France
Sector focus Deprived areas
Target organisations Phase: Established but scaling up
Funding available Size of fund 1: €5 million
Size of fund 2: €10 million
support
Governance
BAC’s investment criteria are: early-stage and development capital; €30,000 to €300,000; financial
criteria: quality of the entrepreneurs, clear business model, potential of attractive return; non-financial
criteria: social impact in the deprived areas. Its investors are private equity and CAC40 companies’
CEOs. It has raised a first fund of €5million and is currently raising a second one of €15 million.
108
CDFSN Sørlandets Kompetansefond
(The Competence Development Fund of Southern

Norway)
Postboks 183
4662 Kristiansand
Norway
Tel +47 38 05 64 20
Email post@kompetansefond.com
Website www.kompetansefond.com
OVERVIEW
Mission The foundation’s articles of association stipulate that CDFSN shall serve
the inhabitants of Vest-Agder in the long term by helping to raise the
level of competence in the county in order to secure and create jobs
and good living conditions.
Year of origin 2000
Headquarters location Kristiansand, Norway
INVESTMENT
Geographical focus Norway
support
Governance
Networks
The Competence Development Fund of Southern Norway (CDFSN) is organised as a public
foundation and was created by the fifteen local authorities in the county of Vest-Agder from funds
raised from a donation of shares in power company Agder Energi AS. Competence here means the
ability to establish and utilise knowledge for practical purposes. Support may be granted to public
or private research/educational institutions, local authorities, and to public and private enterprises.
Institutions that receive grants are required to develop knowledge at university level. Funding is not
granted to individuals.
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Center for Entrepreneurial and Financial
Studies (CEFS)
TUM Business School

Technische Universität München (TUM)
Arcisstrasse 21, 80333 Munich
Germany
Tel +49 89 289 25462
Email contact@cefs.de
Website www.cefs.de
OVERVIEW
Mission Provide state-of-the-art research in the fields of entrepreneurship and
finance.
Parent institution Technische Universität München
VP-related research centre, Center for Entrepreneurial and Financial Studies (joint institute of the
relevant Chairs KfW Endowed Chair in Entrepreneurial Finance and the Department of
Financial Management and Capital Markets)
Year of origin 2003
VP-RELATED ACTIVITIES
Research Centres and Center for Entrepreneurial and Financial Studies
Chairs
Other Research on entrepreneurship and finance in collaboration with
selected industry partners, including leading investment and
consulting companies, venture philanthropy funds and financial
intermediaries.
As part of the business faculty at Technische Universität München (TUM), the Center for
Entrepreneurial and Financial Studies (CEFS) aims to provide state-of-the-art research in the fields of
entrepreneurship and finance. Within these fields, venture philanthropy and other financial aspects
of social entrepreneurship are a research focus of the CEFS. The CEFS is one of the few European
research institutions covering venture philanthropy and social entrepreneurship.
110
Centre for Social Investment (CSI)
University of Heidelberg
Adenauerplatz 1
69115 Heidelberg
Germany
Tel +49-6221-54119-50
Email csi@csi.uni-heidelberg.de
Website www.csi.uni-heidelberg.de
OVERVIEW
Mission Through research, teaching, policy analysis, and advisory services,
the Heidelberg Centre for Social Investment (CSI) seeks to add to the
knowledge and understanding of private action for public benefit. In
particular, the CSI is interested in the types, roles, and contributions
of social investment, philanthropy, civil society and social economy
institutions in Europe and other parts of the world.
Parent institution University of Heidelberg
VP-related research centre, Centre for Social Investment
relevant Chairs
Year of origin 2006
Headquarters location Heidelberg, Germany
Research Centres and Centre for Social Investment
Chairs
Teaching Teaching programme in social investment
Other Advisory services for non-profit, for-profit and governmental sectors.
Services include social investment strategy development, measurement
of social returns on investment, and executive education for non-profit
leaders.
The Centre’s mission is realised through four major objectives that guide its activities, and against
which it will chart its progress and accomplishments over time. These objectives are to:
yy improve the theoretical and practical understanding of social investment, philanthropy, civil
society, and social economy institutions;
yy inform policy-making relating to social investment and relevant institutions at local, regional,
national and international levels;
yy build managerial and governance capacity in the field of social investment, and foster leadership
and organisational effectiveness;
yy monitor major developments affecting social investment in relation to markets and government
institutions generally, and with reference to philanthropy and civil society institutions in particular.
111
Charity Rating
Linnégatan 9-11
SE-114 47 Stockholm
Sweden
Contact Mikael Ahlström
Tel + 46 8 506 143 00
Email mikael.ahlstrom@gmail.com
Website www.charityrating.org
OVERVIEW
Mission Mikael Ahlström founded Charity Rating, is a Swedish non-profit
organisation devoted to analyzing charity efficiency and effectiveness.
Type of organisation Social enterprise
Year of origin 2005
Headquarters location Stockholm, Sweden
SERVICES
Types of services Performance measurement
Strategy consulting
Research
Foundation
Funds
Charity Rating offers advice to individuals and organisations that have an interest in supporting
the non-profit sector. As an initial step, information on activities, conditions, objectives and results
are offered for the top 100 Swedish charities via the website www.charityrating.org. In addition,
Charity Rating arranges a yearly conference related to philanthropic topics held in Stockholm in early
December.
Besides Charity Rating, Mr. Ahlström has founded the charity foundation Stiftelsen Chelha which
supports charitable causes related to children and education. See web page: www.chelha.se. Mr.
Ahlström is also the founding partner of the private equity firm Procuritas.
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Citizen Capital
16 rue Martel
75010 Paris
France
Tel +33 01 76 74 77 20
Email contact@citizencapital.fr
Website www.citizencapital.fr
OVERVIEW
Mission Citizen Capital is a social venture fund financing small companies with
limited access to equity and networks due to their location in deprived
areas or due to entrepreneurs’ profile.
Type of organisation Social Venture fund
Year of origin 2008
INVESTMENT
Geographical focus France

Target organisations Type: Companies in underinvested areas or communities.
Funding available Fund size: €15.5 million
VP average investment size €1 million - €1.5 million
support
Types of financing Convertible loan
Mezzanine finance
Equity
Governance
Networks
SRI support
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Coller Capital
33 Cavendish Square
London W1G OTT
United Kingdom
Contact Jeremy Coller
Tel +44 207 631 8500
Website www.collercapital.com
OVERVIEW
Mission Coller Capital is the leading global investor in private equity
secondaries with approximately $8 billion under management.
Year of origin 1990
Activities Private equity secondaries
Coller Capital provides liquidity to investors wishing to exit early from their private equity investments
– which may be either Limited Partner positions in private equity funds or portfolios of direct
investments in private companies (typically owned by financial institutions or corporations).
Its investments vary widely in size – from single LP positions in small private equity funds, to large
portfolios of diverse assets – from as small as $1 million, to $1 billion or more.
Coller Capital has the world’s largest investment team dedicated to private equity secondaries.
Headquartered in London and New York, its team is multi-national in background and focus, for a
truly global reach.
In 2007, the firm closed its fifth secondaries fund, Coller International Partners V, with capital
commitments of $4.8 billion and backing from 200 of the world’s leading institutional investors. It has
already invested over three quarters of this fund.
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Convivatus Social Capital GmbH
Seefeldstrasse 301
CH 8008 Zurich
Switzerland
Contact Ann Kristin Haaöen Seige
Tel +41 44 380 1650
Email annkristin.seige@convivatus.com
Website www.convivatus.com
OVERVIEW
Mission Convivatus Social Capital develops social impact investments.
Convivatus provides private investors a platform for active social
engagement based on investments instead of grant giving.
Convivatus’ objective is thereby to give successful social entrepreneurs
the strategic and financial basis for sustainable growth. The Convivatus
model combines active business involvement and financing of real
estate. By bringing new capital and know-how into the social sector,
Convivatus wants to be a catalyst for positive social change.
Year of origin 2008
INVESTMENT
Geographical focus Germany, Switzerland, Austria
Social services
Services for the elderly
Annual expenditure on VP €400,000 (as of 2010)
VP average investment size €2 - €10 million
support
Subordinated loan
Mezzanine finance
Equity

115
Convivatus Social Capital GmbH
INVESTMENT
Non Financial Services Strategy consulting
Governance
Networks
116
The Cranfield Trust
Court Room Chambers

1 Bell Street
Romsey SO51 8GY
United Kingdom
Tel +44 1794 830338
Email amanda.tincknell@cranfieldtrust.org
Website ww.cranfieldtrust.org
OVERVIEW
Presentation The Cranfield Trust is a free management consultancy for non profits
addressing issues of poverty, disability and social exclusion.
Type of organisation Charity / non-profit
Year of origin 1988
Headquarters location Hampshire, United Kingdom
SERVICES
Types of services Strategy consulting
Governance
Change management
IT
HR management
Sector focus Poverty, disability and society exclusion
Working with a register of 600 skilled commercial sector managers, many of them alumni of
leading international business schools, the Trust supports over 200 non-profits a year with tailored
consultancy projects. Trust projects are managed to ensure successful outcomes by a team of
project managers, themselves experienced consultants. Organisations working with Cranfield
Trust volunteers consistently report improved service efficiency, increased management skills and
confidence and more effective operations. 80% of Trust volunteers make lasting links with their client
organisations, maintaining contact on completion of their projects to provide ongoing support. The
Trust also offers specialist online advice on HR issues via a moderated website, HRNet, supported by
an expert panel of HR practitioners. HRNet membership is free to its 600 member organisations. For
more information please see www.cranfieldtrust.org or contact 44 (0) 844 800 3390.
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Crédit Coopératif
72 avenue de la Liberté, BP211

92002 Nanterre
France
Contact Yaël Zlotowski
Tel +33 (0)1 47 24 83 39
Email yael.zlotowski@credit-cooperatif.coop
Website www.credit-cooperatif.coop
OVERVIEW
Mission Crédit Coopératif serves social business and social economy
organisations, associations, cooperatives, friendly societies, trade
unions, work councils, housing associations, and small and medium-
sized businesses. The bank is a pioneer of solidarity-based finance
with the largest existing range of ethical and solidarity-based banking
products and investments.
Foundation
Fund
Cooperative Bank
Year of origin Crédit Coopératif (bank): 1892
Esfin-Ides: 1990
CoopEst: 2006
Fondation Crédit Coopératif: 1984
Headquarters location Nanterre, France
INVESTMENT
Geographical focus Europe: Mainly France, but also Poland, Spain, Germany, Italy and other
EU countries.
CoopEst: Central and Eastern Europe.
International microfinance : worldwide
Environment
Health
Social services
Cleantech
Microfinance
Target organisations Type: Charity without trading (Fondation Crédit Coopératif ), social
enterprise, microfinance institutions, cooperatives, mutual companies

118
Crédit Coopératif
Annual expenditure on VP 40% of Crédit Coopératif’s annual banking activity is made within the
Social Economy sector.
In 2009, Esfin - Ides invested €8.6 million and CoopEst SA €21 million.
Funding available Esfin – Ides : funds under management €75 million
CoopEst SA: €30 million
Microfinance and social finance (Crédit Coopératif Bank): €15 million
VP average investment size Esfin – Ides: €1000 - €1,5 million
CoopEst SA: €500,000 - €3 million
Average duration of the VP Middle to long term investment and support
support
Senior loan
Loan
Subordinated loan
Convertible loan
Mezzanine finance
Equity
Grant (Fondation Crédit Coopératif )
Governance
Networks
Several entities within Group Crédit Coopératif are active in VP: Crédit Coopératif Bank, Group Esfin
Ides, CoopEst SA and Foundation Crédit Coopératif.The Esfin-Ides Group provides equity capital for
entities in the social economy, CoopEst SA provides long-term financing for financial institutions
in the social economy sector in Central and Eastern Europe and Foundation Crédit Coopératif
is active in several fields in relation with VP: promoting research and publications on the social
economy, reducing social exclusion, inclusion of disabled people, international solidarity, innovative
entrepreneurship, environment and culture.
119
Cultiva – Kristiansand Energy
Corporation Foundation
PO Box 494
N-4664 Kristiansand
Norway
Tel +47 380 380 20
Email post@cultiva.no
Website www.cultiva.no
OVERVIEW
Mission The goal of the foundation is to secure jobs and good living conditions
in Kristiansand by providing grants to projects which set up art,
cultural, and educational institutions or organisations that contribute to
innovation, development and competence-building within the creative
milieu of Kristiansand.
Year of origin Cultiva was established by the local authority of Kristiansand in 2002 to
ensure that a portion of the profits made from selling shares in Agder
Energy Ltd would be of lasting benefit to the community.
Headquarters location Kristiansand, Norway
INVESTMENT
Geographical focus Norway, City of Kristiansand
Creative Industries
Target organisations Projects
Funding available €165 million (2010)
VP average investment size € 1,000 - €750,000
support
Examples of investment Establishing or supporting study programs at local university,
resource centers and networks, investment funds supporting business
development, and other entrepreneurial activities.
Cultiva’s vision is to contribute to the establishment of Kristiansand as a cultural centre nationally, and
in certain areas, internationally. The current strategy has given priority to the following four target
areas: climate for creativity and development, support for non-commercial enterprises and projects,
commercial concentration, Kristiansand as a centre of expertise
120
CVC Capital Partners
CVC Capital Partners (Luxembourg) Sàrl

20 Avenue Monterey
L-2163 Luxembourg
Tel +352 26 47 8368
Email info@cvc.com
Website www.cvc.com
OVERVIEW
Mission Fundamentally, CVC Capital Partners endeavours to release the inherent
potential of all the businesses and employees within its diverse
portfolio in order to secure sustainable, long-term value enhancement.
CVC Capital Partners’ aim is to provide a competitive environment in
which each business has the opportunity to develop and advance.
Year of origin 1981
INVOLVEMENT IN VP
One of the key elements of CVC’s social responsibility undertaking is a Venture Philanthropy
programme. In early 2010, CVC became a member of the European Venture Philanthropy Association
(EVPA) and the Asia Venture Philanthropy Network (AVPN). In addition, CVC has been delighted to
commit to the Impetus Trust a minimum of US$230,000 for 2010. CVC will commit a further minimum
of US$190,000 in both 2011 and 2012, making a combined total of over US$600,000. Impetus
operates a venture philanthropy model which combines expertise with capital investment to provide
real support and value to their underlying charities. In Germany, a commitment was made to Active
Philanthropy through membership in the Private Equity Foundation (PEF). Donations have also been
extended to a US charity, Jump Start, and CVC Asia Pacific has pledged to make a donation to AVPN.
In total, CVC raised over US$1 million from service providers and from more than 25 corporations
and numerous individual donors. The overwhelming support from CVC’s service providers and the
individual team members’ fund raising efforts meant the group raised more than its targeted amount
towards Impetus and their own personal charities. These funds will be deployed across 19 charities
including CVC’s chosen group charity, Impetus Trust (venture philanthropy charity) and the Private
Equity Foundation (PEF) in Germany.
CVC Capital Partners (‘CVC’) is one of the world’s leading Private Equity and investment advisory firms.
Founded in 1981, CVC now has a network of 20 offices and over 230 employees throughout Europe,
Asia and the US.
121
DCU Ryan Academy for Entrepreneurship
3013 Lake Drive, Citywest Business Campus

Dublin 24
Ireland
Contact Gordon McConnell, Deputy CEO
Tel +353 1 700 7763
Email gordon.mcconnell@dcu.ie
Website www.ryanacademy.dcu.ie
OVERVIEW
Mission The DCU Ryan Academy is a partnership between Dublin City University
and the family of the late Tony Ryan (Ryanair). The Academy exists to
promote entrepreneurship and innovation. The Ryan Academy is a
dynamic hub for entrepreneurs and researchers to develop ideas learn
new skills and network.
Year of origin 2005
Teaching Social Enterprise and Social Entrepreneurship modules
Events Social Enterprise events
Other Membership of the Social Enterprise Taskforce (Ireland)
The Ryan Academy is working with researchers and entrepreneurs to help them achieve their
potential. The Academy believes that specific areas of the economy, in particular the Social Economy
and Green Technologies, will play a key role in Ireland’s economic recovery and is committed to
providing leadership and support to these and other key sectors.
122
Doughty Hanson & Co
45 Pall Mall
London SW1Y 5JG
United Kingdom
Tel +44 207 663 9300
Email stephen.marquardt@doughtyhanson.com
Website www.doughtyhanson.com
OVERVIEW
Mission Doughty Hanson & Co is a pan-European private equity investment
manager with fund programmes in buyouts, real estate and technology
venture capital.
Year of origin 1985
INVOLVEMENT IN VP
Doughty Hanson is involved with a number of organisations in the philanthropic and social
investment arena across Europe including, notably, Bridges Ventures and the Private Equity
Foundation. These organisations apply the focus and rigour associated with the private equity
investment model, which has the potential to significantly increase the impact of the social returns
they generate.
123
EPFL - Ecole Polytechnique Fédérale de Lausanne
School of Life Sciences – Dean’s Office

Station 19
CH-1015 Lausanne
Switzerland
Contact sacha.sidjanski@epfl.ch
Tel +41 21 693 16 41
Website sv.epfl.ch
OVERVIEW
Mission The mission of the EPFL (Ecole Polytechnique Fédérale de Lausanne -
Swiss Federal Institute of Technology) focuses on education, research
and technology transfer.
Institution EPFL -Ecole Polytechnique Fédérale de Lausanne
VP-related research centre, School of Life Sciences
relevant Chairs
Year of origin 1853
Headquarters location Lausanne, Switzerland
Tackling major medical problems of our times with a new partnering and entrepreneurial approaches.
The School of Life Sciences is one of the five schools at EPFL; it was launched in 2002 with the
mission to carry out cutting edge research and promote transdisciplinary approaches, putting
together biologists with engineers for a new innovative research effort, e.g. building microscopes,
new drug delivery, using engineering expertise to better understand complexes issues like cancer,
neurodegenerative and infectious diseases (e.g. tuberculosis), computer science to model drug
targets interactions, etc.
Accordingly, the EPFL School of Life Sciences trains a new type of researchers whose combined skills
in these various fields are set to address fundamental biological questions and to attack the major
medical problems of our times with a new partnering and entrepreneurial approaches.
A start-up incubator, coaching services, study programmes on entrepreneurship and innovation, all
serve to stimulate the links between the lab and business. The Science Park on campus is home to
more than 90 enterprises.
124
ESADE Business School
Universitat Ramon Llull

Av. Torreblanca 59
08172 San Cugat del Valles
Spain
Contact Mariarosa Scarlata
Tel +34 93 280 61 62
Email mariarosa.scarlata@esade.edu
Website www.esade.edu
OVERVIEW
Mission Since its foundation, ESADE has been committed to the development of
highly professional leaders in the areas of management and law.
Year of origin 1958
Headquarters location San Cugat del Valles, Spain
ESADE’s faculty of 445 foments education with very high academic standards; the creation of
knowledge, based on both rigorous and relevant investigation and research; and debate to
contribute towards the improvement of society. Every year, ESADE’s three campuses in Barcelona,
Madrid and Buenos Aires host over 9000 students who participate in the Business School’s Executive
Education and MBA programs or enroll in its undergraduate, postgraduate or doctoral programs in
both Law and Management. To further increase its international focus and global perspective, ESADE
has established strong alliances and partnerships with more than 100 organisations and schools that
provide a platform for development and innovation. Its 35,000 alumni, holding top-level positions in
companies on all five continents, attest the schools commitment. ESADE was named the number one
business school worldwide by The Wall Street Journal for two consecutive years (2006 and 2007).
125
Esmée Fairbairn Foundation
Kings Place, 90 York Way

London N1 9AG
United Kingdom
Contact Danyal Sattar
Tel +44 (0) 20 7812 3700
Email danyal.sattar@esmeefairbairn.org.uk
Website www.esmeefairbairn.org.uk
OVERVIEW
Mission The Esmée Fairbairn Foundation aims to improve the quality of life
throughout the UK. It does so by funding the charitable activities of
organisations that have the ideas and ability to achieve change for
the better. The Foundation takes pride in supporting work that might
otherwise be considered difficult to fund.
Year of origin Esmée Fairbairn Foundation: 1961
Finance Fund: 2008
INVESTMENT
Children, youth
Environment
Social services
Size of dedicated VP fund: €24 million
support

126
Esmée Fairbairn Foundation
Senior loan
Loan
Subordinated loan
Convertible loan
Mezzanine finance
Equity
Partner in a limited liability partnership
Industrial and provident society shares (member of cooperative raising
investment)
Non financial services Unspecified
The Finance Fund, where Esmée Fairbairn Foundation does activities related to venture philanthropy,
invests in charities, social enterprises and other social purpose organisations. The Foundation’s
investments have ranged in size from €23,600 to €1,181,000 and so far, it has supported 28
organisations in this way, committing £15,167,000. Esmée Fairbairn Foundation makes these
investments for three broad reasons:
yy it is another tool to the causes it supports. Most of its support is in the form of grants; occasionally,
returnable funds make more sense
yy to support intermediaries to meet the needs more systematically; it invests in intermediaries such
as Bridges, Big Issue Invest, Charity Bank, Ecology Building Society and Venturesome, amongst
others. They are specialists in their field, and can attract other funds alongside Esmée’s, to greater
impact than we might have by ourselves
yy to help bring new sources of money to support social good. The Foundation’s philanthropic
resources, though useful, do not have the scale to address the social and environmental problems
it is tackling
127
ESSEC Business School
1 Avenue Bernard Hirsch – BP 50105

95021 Cergy-Pontoise Cedex
France
Contact Claire Morkel
Tel + 33 (0)1.34.43.32.05
Email morkel@essec.fr
Website www.iies.fr
OVERVIEW
Mission For over a century, ESSEC has been developing a state-of-the-art
educational program that gives the individual pride of place in
its learning model, promoting the values of freedom, openness,
innovation and responsibility. Preparing future managers to reconcile
personal interests with collective responsibility, giving consideration to
the common good in their decision-making, and weighing economic
challenges against the social costs are some of ESSEC’s goals. Its
ultimate goal is to create a global world that has meaning for all.
Parent institution ESSEC Business School
VP-related research centre, Institute for Social Innovation and Social Entrepreneurship
relevant Chairs Chair in Social Entrepreneurship
Chair in Philanthropy
Year of origin 2003: Chair in Social Entrepreneurship
2009: Institute for Social Innovation and Social Entrepreneurship
2010: Chair in Philanthropy
Headquarters location Cergy, France
Research Centres and Institute for Innovation and Social Entrepreneurship (IIES)
Chairs Chair in Social Entrepreneurship
Chair in Philanthropy
Teaching Chair in Social Entrepreneurship, developed in partnership with MACIF,
MAIF, Caisse des Depots et Consignations as well as Caisse d’Epargne,
the Chair offers: a dedicated curriculum for students in ESSEC’s Master
in Management, an executive education training focusing on the
management of social enterprises.
Academic as well as applied research activities, awareness raising
(through activities such as conferences and round tables)
Chair in Philanthropy, developed in partnership with Fondation de
France, BNP Paribas Wealth Management, KPMG as well as a few
individuals, this new research Chair aims at studying, enhancing and
promoting the knowledge and role of philanthropy in the European
context.
Other Founded in 2008 by ESSEC’s IIES in partnership with a French bank
(Caisse d’Epargne Ile de France), Antropia (http://antropia.essec.fr) is a
social incubator and philanthropic venture capital fund which supports
social enterprises at inception stage. 26 projects have been incubated
since the creation of Antropia.
128
European Investment Fund
96 boulevard Konrad Adenauer

L-2968 Luxembourg
Luxembourg
Tel +352 426 688 340
Email j.harvey@eif.org
Website www.eif.org
OVERVIEW
Mission European Investment Fund (EIF) is Europe’s leading developer of risk
financing with a central mission to support small and medium-sized
enterprises by enhancing their access to finance.
Type of organisation Public institution
Year of origin 1994
Activities Venture and Growth Capital / Guarantees and Securitisation
INVOLVEMENT IN VP
The identification of social value-added is important for EIF because of its purpose to contribute
to the objectives of its stakeholders, notably those of the European Union. Hence in its activity, EIF
examines strategic approaches to social value creation by assessing the efficiency of its financial
instruments and investments in pursuit of its main policy objective of improving the financing
landscape for small and medium-sized enterprises (SMEs).
EIF is Europe’s leading developer of risk financing for entrepreneurship and innovation. Its central
mission is to support Europe’s SMEs by helping them to access finance. EIF’s core business is
conducted through equity investments in venture and growth capital funds and as a guarantee
provider to intermediaries in SME financing. Working in partnership with public and private
institutions, EIF designs and develops market instruments targeting the SME segment. EIF operates
on market terms to ensure an appropriate financial return for its shareholders. EIF has a crucial role
to play throughout the value chain of enterprise creation, from the earliest stages of intellectual
property development to mid and later stages. In its role, EIF fosters EU objectives in support of
innovation, regional development, entrepreneurship, growth, and employment.
EIF, together with the European Investment Bank and the European Commission has set up the
Progress Microfinance Facility which aims to increase access to finance for individuals who have lost
or are at risk of losing their job or have difficulties entering of re-entering the labour market. It is also
aimed at disadvantaged individuals, including people at risk of social exclusion.
129
Factary
Apdo Corr 393, Sant Esteve de P.

E-08461 Barcelona
Spain
Contact Christopher Carnie
Tel +34 93 845 19 02
Email chris@factary.com
Website www.factary.com
OVERVIEW
Mission Factary’s mission is to help clients find funding and partners. Factary
works with non-profits and philanthropic investors across Europe,
offering strategic planning and consultancy in fundraising and
philanthropy based on research and analysis.
Year of origin 1990
Headquarters location Bristol, United Kingdom and Barcelona, Spain
SERVICES
Research
Foundation
Funds
Annual expenditure on VP Europe
Sector focus Advocacy, Children, youth, Culture and recreation, Development and
housing, Education and research, Environment, Health, Social services,
Cleantech, Microfinance
Research interests Philanthropic investment market, philanthropic motivations,
foundations in Europe.
Founded by Christopher Carnie in 1990 as a research agency in the philanthropic sector, Factary
has evolved into a consultancy with a clear focus on strategic philanthropy in Europe. Senior
consultants Christopher Carnie and Martine Godefroid work across Europe with non-profits and their
philanthropic partners, helping clients to build successful strategies for fundraising and development,
backed with practical research provided by a strong, experienced team.
130
Fondazione CRT
Via XX Settembre, 31
10121 Torino
Italy
Contact Stefania Coni
Tel +39 11 6622599
Email stefania_coni@fondazionecrt.it
Website www.fondazionecrt.it
OVERVIEW
Mission CRT Foundation is concerned exclusively with social aims and
promoting economic development, and it orients its work and
dedicates its resources to all sectors of social utility: from the
conservation and development of artistic heritage and cultural
activities, to scientific research; from education and training, to health
and assistance for the weaker categories of society; from civil protection
and care for the environment, to support for economic development.
Year of origin Fondazione CRT: 1991
VP division or fund: 2006
Headquarters location Torino, Italy
INVESTMENT
Environment
Health
Social services
Microfinance
Funding available Size of endowment: €3.2 billion (financial investments valued at market
prices as of December 2009)
Size of dedicated VP fund: € 220,000,000
Equity-like
Grant
Bond subscription
Possible other types of financing

131
Fondazione CRT
Legal advice
Networks
Examples of investment Institution of a closed-end real estate fund with social aims.
Shareholder of different societies (i.e. microcredits, a management
company, a society that invests in equity of the venture capital of non
listed companies, etc.)
Subscription of corporate bond issued by the Turin Transport Authority
at below market conditions.
In slightly less than 20 years since its creation, Fondazione CRT has gone through at least three
operational phases: it started as a Foundation that makes grants, it then developed into a Foundation
that also plans its own projects and today it even makes “philanthropic investments”. Inspired by
the “venture philanthropy” this last approach represents a new, significant change in the way the
Foundation allocates funds. This maybe oversimplified distinction into three types of actions does not
intend to represent three different phases that have followed and replaced each other over time, but
rather three different and integrated ways of reaching the end goal of social aim.
132
Fondazione di Venezia
Dorsoduro 3488 U
30123 Venezia
Italy
Tel +39 41 2201211
Email segreteria@fondazionedivenezia.org
Website www.fondazionedivenezia.org
OVERVIEW
Mission Fondazione di Venezia is one of the 88 Italian banking foundations
originated from the privatization process of savings banks. The mission
of Fondazione di Venezia is the promotion of civil society and human
capital particularly in the venetian territory.
Year of origin 1992
Headquarters location Venice, Italy
Activities Education, arts and culture, research
INVOLVEMENT IN VP
Even though Fondazione di Venezia is not directly involved in VP, it is keen to learn from the
experience of members of EVPA and hosts one of EVPA’s annual meetings in Venice.
Fondazione di Venezia is mostly involved in acting through a number of instrumental entities
operating in the fields of arts, culture, education and transfer of technology.
133
Fondinvest Capital
33 rue de La Baume
75008 Paris
France
Contact Charles Soulignac
Tel +33 1 58 36 48 00
Email mailbox@fondinvest.com
Website www.fondinvest.com
OVERVIEW
Presentation Fondinvest Capital is an independent portfolio management company
specializing in private equity fund of funds activity. The firm is a pioneer
in this business in Europe as it created one of the first private equity
funds of funds.
Year of origin 1994
Activities Private equity fund of funds
Since inception, Fondinvest Capital has been managing 3 pure primary funds of funds with
Fondinvest I-III-V; 3 secondary funds with Fondinvest II-IV-VI; and 2 separate accounts, representing
€1.5 billion managed with over 200 funds invested in various private equity stages and geographical
areas. The funds are subscribed by European, US, Middle Eastern and Asian investors, including banks,
insurance companies, pension funds, retirement pension funds, or family offices. Fondinvest Capital’s
investors demonstrate high confidence and satisfaction in re-upping in the successor funds of funds.
Fondinvest Capital is currently launching Fondinvest VII, a primary fund of funds, and Fondinvest VIII,
a secondary fund.
134
Formuesforvaltning AS Stiftelsen
et Rikere
Henrik Ibsensgate 53
0181 Oslo
Norway
Contact Ingrid Stange
Tel +47 24 12 44 00
Mail ingrid.stange@formue.no
Website www.formue.no
OVERVIEW
Mission Formuesforvaltning AS is the largest privately-owned, independent
wealth management firm in Norway.
Year of origin 2000
Headquarters location Oslo, Norway
Activities Wealth Management
INVOLVEMENT IN VP
Formuesforvaltning AS is the first wealth management firm in Norway to offer investment
opportunities in philanthropy. Through its Philanthropic Services, it helps to define strategy and
goals for donations, and to set up means to reach the goals. Its clients include private individuals
and major foundations. The level of engagement varies from total management of foundations
to advice on measurement of efficiency. Formuesforvaltning AS also establishes philanthropic
funds where its clients are invited to co-invest with the company. Through its Philanthropic Forum,
Formuesforvaltning AS aims to inform and inspire foundations and wealthy individuals to participate
in engaged philanthropic activities.
Through long-term personal relationships, cutting-edge investment solutions and comprehensive
portfolio reporting, Formuesforvaltning AS is fully equipped to manage all functions related to
the management of financial portfolios, including tax planning and management, and corporate
servicing tailored to the individual client’s specific needs. Clients include private individuals,
organisations and foundations.
135
Forum for Active Philanthropy GmbH
Monbijouplatz 2
10178 Berlin
Germany
Contact Dr. Felicitas von Peter
Tel +49 30 240 88 24 0
Email info@activephilanthropy.org
Website www.activephilanthropy.org
OVERVIEW
Mission Active Philanthropy’s mission is to create a more active and engaged
giving culture in Europe where donors contribute not only financial
resources but also professional experience, time and contacts.
Type of organisation Independent philanthropy intermediary and advisor
Year of origin 2006
SERVICES
Strategy consulting
Networks
Written information (resources, guides for donors)
Foundation
Geographical focus Continental Europe
Active Philanthropy helps donors develop or strengthen their personal giving strategy and
encourages them to meet, pool resources and ideas and learn from each other. Therefore Active
Philanthropy provides the following services:
yy Publication of reports on selected funding areas as well as guides on methods and skills of
effective giving
yy Workshops bringing together peers who are interested in the same funding area or management
issue
yy Expeditions that explore certain funding issues in depth and facilitate an exchange with peers and
experts on the ground
yy Individual advisory services on all issues connected with developing a giving strategy
yy Project management tasks at the donors’ request, like identifying and assessing good projects to
support or managing existing projects.
136
GMT III Charitable Trust
PO Box 71
Les Banques
Trafalgar Court
St Peter Port
Guernsey GY1
Tel +44 20 7292 9333
Email tim.green@gmtpartners.com
Website www.gmtpartners.com
OVERVIEW
Mission GMT III Charitable Trust is the charitable arm of GMT Communications
Partners. It has been established to make meaningful contributions to
charities that address underfunded social issues.
Year of origin 2006
Headquarters location Guernsey
137
Halder Beteiligungsberatung GmbH
Barckhausstr. 12-16
60325 Frankfurt am Main
Germany
Contact Paul De Ridder
Tel +49 69 24253311
Email deridder@halder.eu
Website www.halder.eu/en
OVERVIEW
Presentation Halder is a private equity investor and is well established in German
midcaps with a preference for companies characterized by independent
management, a strong market position, a track record of positive
earnings and a turnover ranging from €20 million to €400 million.
Investment is geared towards ownership succession solutions for family
business, spin-offs from large corporations, changes in shareholder
structure and expansion financing. Halder usually takes a majority
stake, mainly by way of a management buy-out (MBO).
Fund
Year of origin 1991
Headquarters location Frankfurt am Main, Germany
138
Hogan Lovells
Atlantic House
Holborn Viaduct
London EC1A 2FG
United Kingdom
Tel +44 20 7296 2962
Email yasmin.waljee@lovells.com
Website www.lovells.com
OVERVIEW
Presentation Hogan Lovells is one of the largest international business legal practices
with over three thousand people operating from 27 offices in Europe,
Asia and the United States.
Year of origin 1899
Activities Legal services
INVOLVEMENT IN VP
Hogan Lovells Pro Bono has been at the forefront of innovative thinking in the field of social
entrepreneurship for over 12 years. It provides over 18,000 hours of free legal advice a year to
dynamic social entrepreneurs who wish to develop solutions to alleviate problems of global concern.
Hogan Lovells work on projects to help relieve social disadvantage in conjunction with some major
venture philanthropists. The strength of Hogan Lovells Pro Bono program lies in the high standards
of professionalism, clarity and practical legal advice for which the firm is known in its commercial
work, being applied equally rigorously and enthusiastically to its pro bono practice. Hogan Lovells
recognizes that a pro bono commitment is integral to the values of the firm.
139
IESE Business School
Avda. Pearson 21
08034 Barcelona
Spain
Contact Johanna Mair
Tel +34 93 353 42 00
Email jmair@iese.edu
Website www.iese.edu
OVERVIEW
Mission IESE Business School is committed to the development of leaders who
aspire to have a positive, deep and lasting impact on people, firms and
society through their professionalism, integrity and spirit of service.
IESE aspires to be a world-class and truly global business school,
seeking teaching excellence and research impact. IESE has two
campuses in Barcelona and Madrid and facilities in Munich, New York
and Sao Paulo, offering executive programs in key countries around the
world.
Parent institution IESE Business School
VP-related research centre, IPSS - IESE Platform for Strategy and Sustainability
relevant Chairs Center for Business in Society
“La Caixa” Chair: Corporate Social Responsibility and Corporate
Governance
Year of origin 1958
Headquarters location Barcelona, Spain
Research Centres and IPSS - IESE Platform for Strategy and Sustainability
Chairs
Teaching Entrepreneurial strategies for social impact (MBA, Global Executive MBA
and Executive Education programs)
Events Doing Good and Doing Well Conference: Europe’s leading student-run
conference on responsible business. http://dgdw.iese.edu/
Other Numerous case studies and publications on the topics of social
entrepreneurship and social innovation.
SELUSI research project - study of 800 social enterprises in Europe
140
iHeed Foundation
Fermoy Road, Mitchelstown

County Cork
Republic of Ireland
Contact Frank Doheny, Dr. Tom O’Callaghan
Tel +353 25 52080
Email info@iheed.org
Website www.iheed.org
OVERVIEW
Mission The iHeed Foundation is a newly established Irish venture philanthropy
foundation that focuses on health education. It supports the
development, implementation and scale-up of innovations that
measurably improve health education outcomes for children in Ireland,
Sub-Saharan Africa and beyond.
Year of origin 2010
Headquarters location County Cork, Rep. of Ireland
Activities Venture Philanthropy
IHeed looks to fund programs that use new information technology and telecommunications systems
to improve health education outcomes, with a focus on getting health information down the ‘last
mile’ to poor or otherwise vulnerable communities by educating and up skilling the Community
Health Worker and other healthcare practitioners.
141
IKARE Ltd
Brettenham House, 5 Lancaster Place

London WC2EN
United Kingdom
Contact Anne Holm Rannaleet
Tel +44 207 304 4300 and +46 70 378 9550
Email anne.rannaleet@ikinvest.com
Website www.ikinvest.com/CSR/IKARE
OVERVIEW
Mission Helping people “do it for themselves”, solving health problems and
creating jobs.
IKARE is a UK company limited by guarantee, which is also a UK
registered charity
Year of origin 2006
INVESTMENT
Health
Other: Job creation is part of our approach
Convertible loan
Grant
Governance
Networks
Examples of investment See www.stampoutsleepingsickness.com
IKARE has provided financial and non-financial support to both academic institutions and
entrepreneurs involved in bringing animal health services to rural parts of northern Uganda.
142
INSEAD
Boulevard de Constance
77305 Fontainebleau Cedex
France
Contact Christine Driscoll, Associate Director, Social
Entrepreneurship Initiative
Tel +33 1 60 72 41 28
Email Christine.driscoll@insead.edu
Website www.insead.edu/se and www.insead.edu/isic
OVERVIEW
Mission The mission of INSEAD is to promote a non-dogmatic learning
environment that brings together people, cultures and ideas from
around the world, changing lives, and helping transform organisations
through management education. Through teaching, it develops
responsible, thoughtful leaders and entrepreneurs who create value for
their organisations and their communities. Through research, it expands
the frontiers of academic thought and influence business practice.
For the Social Entrepreneurship Initiative, it brings its academic
expertise to bear upon the unique challenges faced by social
entrepreneurs. Its research agenda aims to foster a two way dialogue:
advanced management thinking is applied to the challenges of social
entrepreneurs, while the innovative approach of social entrepreneurs is
leveraged back into business research and corporate practice.
Parent institution INSEAD
VP-related research centre, INSEAD Social Entrepreneurship Initiative, www.insead.edu/se
relevant Chairs
Year of origin 2007
Headquarters location Fontainebleau, France
Research Centres and INSEAD Social Innovation Centre, www.insead.edu/isic
Chairs Maag International Centre for Entrepreneurship, www.insead.edu/se
Teaching Social Entrepreneurship and Impact Investing are taught in MBA and
EMBA classes as well as executive education. The pioneering INSEAD
Social Entrepreneurship Programme (ISEP) is a preeminent executive
education programme for social entrepreneurs, which has been
running since 2005 and has trained more than 250 social entrepreneurs.
Events The INSEAD Social Innovation Centre runs conferences called
Alumni Sustainability Roundtables twice a year as well as other
innovative events and programs. Please see: http://www.insead.edu/
facultyresearch/centres/isic/outreach/index.cfm.
The INSEAD Social Entrepreneurship Initiative has just launched the
Social Entrepreneurship Catalyst (www.insead.edu/secatalyst), a series
of events, workshops, and networking opportunities for INSEAD’s social
entrepreneurship eco-system. The Social Entrepreneurship Initiative
also runs a yearly conference and reunion. Please see: www.insead.edu/
se for more information.
143
Institute for Philanthropy
2 Temple Place
London WC2R 3BD
United Kingdom
Contact Musa Okwonga, Director for Press
Tel +44 (0)207 240 0262
Email contact@instituteforphilanthropy.org
Website www.instituteforphilanthropy.org
OVERVIEW
Mission Institute for Philanthropy works to increase effective philanthropy in the
United Kingdom and internationally. Institute for Philanthropy does this
by providing donor education, building donor networks and raising the
awareness and understanding of philanthropy.
Type of organisation Charity / non-profit
Year of origin 2000
INVESTMENT
Foundation
Funds
Government
Geographical focus Unspecified
Research interests Unrestricted funding, family philanthropy, management of charitable
assets, spend out foundations, giving in a recession, climate change
With offices in London and New York, the Institute for Philanthropy is one of the world’s leading
organisations providing international donor education. Its staff brings more than 50 years of
experience at the highest level in strategic philanthropy. Institute for Philanthropy:
yy Has worked closely with over 200 wealthy families and individuals from Europe, North America,
Asia, Africa and the Middle East.
yy Leads the world’s premier donor education programme in strategic philanthropy, The
Philanthropy Workshop.
yy Has worked with 25 of the UK’s 55 Community Foundations in the last 2 years.
144
J P Morgan
10 Aldermanbury
London EC2V 7RF
United Kingdom
Tel +4420 7325 0633
Email Nicola.j.mackert@jpmorgan.com,
Rafia.x.qureshi@jpmorgan.com
Website www.jpmorgan.com
OVERVIEW
Presentation J.P. Morgan is a leader in financial services, offering solutions to clients
in more than 100 countries with one of the most comprehensive global
product platforms available. J.P. Morgan has been helping its clients
to do business and manage their wealth for more than 200 years. J.P.
Morgan’s business has been built upon its core principle of putting
clients’ interests first. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE:
JPM), a global financial services firm.
Headquarters location EMEA Headquarters – London, United Kingdom
Activities Investment Banking, Corporate Banking, Treasury & Securities Services,
Asset Management and Private Banking
INVOLVEMENT IN VP
Through the JPMorgan Chase Foundation, J.P. Morgan is committed to working in partnership with
venture philanthropy organisations to respond to the deepening social need in the communities
it serves. Globally, the Foundation provides over $100 million in grants on an annual basis to
over 7,500 grant partners in the focus areas of Community Development, Education and Arts &
Culture. Through strategic partnerships with organisations across the region, J.P. Morgan focuses its
investments towards the most vulnerable people and support sustainable programmes that have a
clear and measurable impact. It is this approach that continues to drive its investment in high impact
programmes across EMEA (Europe, Middle East, and Africa) with the provision of not only financial
capital but also human capital through the time and expertise of its employees.
145
JPA Europe Limited
32-36 Loman Street

London UK SE1 0EE
United Kingdom
Contact John Pepin
Tel +44 780 305 1674
Email john@jpa-group.com
Website www.jpa-group.com
OVERVIEW
Mission JPA’s vision is to be an indispensable partner to all its clients through
the delivery of world-class support services. JPA is an exceptional
professional services company operating in the commercial and third
sectors helping clients to improve performance and competitiveness.
JPA has in-depth knowledge of the verticals within which it works,
allowing it to deliver technology and consulting solutions which enable
clients to achieve their organisational goals.
Year of origin 1996
SERVICES
Research
Governance
Change management
Enterprise development and growth
Collaboration
Foundation
Funds
Government
Geographical focus Europe, North America and South East Asia
146
King Baudouin Foundation
Rue Brederode 21
1000 Brussels
Belgium
Contact Benoît Fontaine
Tel +32 (2)-549 03 04
Email fontaine.b@kbs-frb.be
Website www.kbs-frb.be
OVERVIEW
Mission The mission of the King Baudouin Foundation is clear and at the
same time wide-ranging: to help to improve living conditions of the
population. In its 1976 Constitution, the Foundation is described as “an
independent structure that encourages original ideas and sets up new
projects.”
The King Baudouin Foundation supports projects and citizens who
are committed to create a better society. In this way it can make a
lasting contribution towards greater justice, democracy and respect for
diversity.
Year of origin King Baudouin Foundation: 1976
VP division: 2009
Headquarters location Brussels, Belgium
INVESTMENT
Geographical focus Belgium only for VP activities
Size of dedicated VP fund: €1 million
support
Grant
Non financial services All types, depending on the needs of the organisation
147
KPMG Private Equity Group
1-2 Dorset Rise

London EC4Y 8EN
United Kingdom
Tel +44 20 7311 1000
Email vincent.neate@kpmg.co.uk
Website www.kpmg.com
OVERVIEW
Mission KPMG’s Private Equity Group is a dedicated group of professionals
serving the private equity community globally.
Activities Private Equity advisory
INTEREST IN VP
Corporate social responsibility is central to the culture at KPMG. This means that the company
believes in behaving ethically, safeguarding the environment and building positive links with the
communities around it. Locally, this often means backing education initiatives but, in the wider
community, KPMG staff support and lead projects to assist the homeless as well as people in debt
or in need. More widely, KPMG backs initiatives to address climate change, the environment and
sustainable development through KPMG’s Global Development Initiative through which it hopes to
ensure that KPMG people can make a difference to issues of global significance.
KPMG’s Private Equity Group comprises practitioners from KPMG’s Advisory, Tax and Audit practices,
including Corporate Finance, Transaction Services, Restructuring and Forensic.
The Private Equity Group at KPMG was established to support the link between a private equity fund,
its managers, the transactions, the investments and the realisation of value. By offering a coordinated
approach to the private equity business, KPMG firms can help private equity houses, which
invest across middle and large leveraged buy-out markets, with their strategic, deal and portfolio
management issues.
Underlying KPMG’s approach is a single, consistent global methodology – no matter where its clients
are doing a deal, KPMG firms are committed to providing a high standard of work with a forward-
thinking perspective.
148
Lapiluz Advisory Services
Lei 19 / 10
B-3000 Leuven
Belgium
Tel +32-485-47.08.09
Email liesbet@lapiluz.com
Website www.lapiluz.com
OVERVIEW
Mission Lapiluz Advisory Services is an independent investment advisory and
consulting firm servicing private foundations, venture philanthropists
and high net worth individuals to support the strategic development
and investment management aspects of their international
development and impact investing activities.
It aims to introduce and apply key business concepts, capital
efficiency and financial transparency from the venture capital and
private equity industry into the field of international development,
without jeopardizing the social objectives and impact of international
philanthropy.
Year of origin 2008
Headquarters location Leuven, Belgium
SERVICES
Strategy consulting
Foundation
Funds
Geographical focus Africa and Latin America
Lapiluz’s founder and managing director, Liesbet Peeters, combines professional expertise in finance
and private equity with extensive experience in international development. For the last two and a
half years, she has worked for the Grassroots Business Initiative at the World Bank, where she worked
with numerous NGOs, social enterprises, partner donors and foundations on identifying and funding
micro-economic development projects, mainly in West Africa and South-East Asia. Previously, Liesbet
gained solid expertise in finance and private equity/venture capital deal-making, fund structuring
and administration, investor reporting and fundraising, working in various positions in the private
equity/venture capital industry in Europe.
149
L’Initiative Philanthropique
21 rue Ballu
75009 Paris
France
Contact Jerome Kohler
Tel +33 66 076 4755
Email Jeromekohler@aol.com
Website www.initiative-philanthropique.com
OVERVIEW
Mission L’Initiative Philanthropique is a philanthropic advisers consultancy
firm that advises, in Europe and in the US, 1) Families and individuals
on their philanthropic projects 2) Family offices, private banks, private
equity firms (BNP-Paribas Wealth Management, Natixis Private Equity,
HSBC private bank) and lawyers on their philanthropic services and 3)
Companies on their strategic corporate philanthropy.
Fund (new)
Year of origin 2001
SERVICES
Performance measurement
Strategy consulting
Research
Governance
Legal advice
HR management
Networks
Survey on philanthropic trends and philanthropists’ motivations
Foundation
Funds
Government
Geographical focus Europe and USA

150
L’Initiative Philanthropique
SERVICES (continued)
Children, youth
Environment
Health
Social services
Cleantech
Microfinance
Philanthropic financial products and services
Research interests Strategic and comparative philanthropy, philanthropists motivations
The company also helps non-profit organisations and institutions such as museums and foundations
in their development and companies in their corporate giving strategies. L’Initiative Philanthropique
has published, in collaboration with l’Ecole des Hautes Etudes en Sciences Sociales, the first survey
on the philanthropic motivations of HNWIs (65 interviews of wealthy individuals or family with assets
between €5M to €13 billion) in Europe for an international private bank.
The company is strongly committed to developing venture philanthropy in Europe, not only as
a member of EVPA, but also by helping individuals or companies to set up their own venture
philanthropy vehicles and activities or to identify beneficiaries.
Before founding L’Initiative Philanthropique, Jerome Kohler, its director, was the deputy director of
the foundations department of Fondation de France (the main community foundation in France with
more than 600 funds), adviser to the CFO of the Caisse d’Epargne Bank, head of the corporate giving
of the L’Oreal Group, adviser to the chairman of the Louvre Museum and executive director of the
American Friends of the Louvre in New York.
He is also a member of the board of several non-profit organisations such as Humanity in Action Inc,
Fondation Demeter, Paris-Musées and was part of the credit committee of PlanetFinance and also sits
on the board of the ESSEC alumni association
Jerome is one of the three co-founders and funders of the newly created European Philanthropy Chair
at Essec Business School to promote research on European philanthropy and foundations (2010) and
has been strongly involved in the definition of its research program and its fundraising.
151
Lundin for Africa Foundation
Suite 2101 – 885 West Georgia Street

Vancouver, BC - V6C 3E8
Canada
Contact Stephen Nairne
Tel +1.604.806-3082
Email Stephen@lundinforafrica.org
Website www.lundinforafrica.org
OVERVIEW
Mission Founded in 2005, Lundin for Africa (LFA) is the philanthropic arm of the
Lundin Group of Companies, which has invested actively in Africa for
over 35 years. Through a mixture of grants and impact investments, LFA
supports innovative, high-impact initiatives that enable sustainable
agricultural livelihoods and support SME development across sub-
Saharan Africa.
Fund
Year of origin Lundin for Africa Foundation: 2005
Lundin for Africa funds: 2009
Headquarters location Vancouver, Canada
INVESTMENT
Sector focus Agriculture and Agribusiness
Small and Medium Sized Business
Target organisations Type: Charity with trading, social enterprise, small and medium-sized
business
Average duration of the VP 5 -10 years
support
Convertible loan
Equity
Grant
Non financial services Do not directly provide non financial services
152
MAM Pte Ltd
107A / 108A Amoy Street

Singapore 069928
Contact Hiroyuki Maki
Tel +65 6336 3825
OVERVIEW
Mission MAM Pte Ltd was founded in September 2006 to engage in proprietary
trading and principal investment for Melco Holdings Inc., and began
managing third party capital upon MBO by its employees in October
2007. The firm currently manages a wide variety of strategies for
investors.
Foundation
Year of origin 2006
Headquarters location Singapore
INVESTMENT
Geographical focus Asia
Average duration of the VP 3 Years
support
Grant
Non financial services Governance
153
Martin und Gerda Essl Sozialpreis
gemeinnützige Privatstiftung
Aufeldstrasse 17-23
3400 Klosterneuburg
Austria
Contact Dr Michael Fembek
Tel +43 2243/410 9149
Email info@esslsozialpreis.at
Website www.esslsozialpreis.org
OVERVIEW
Mission In the foundation deeds are the following guiding principles: to support
people in need, to advance the public awareness of the necessity to
support those in need and to allow those people to receive the training
they require.
Year of origin 2007
Headquarters location Klosterneuburg, Austria
INVESTMENT
Target organisations Type: Social entrepreneurship
Phase: Mature
Annual expenditure on VP Approx. €3.3 million (2008-10)
VP average investment size €1 million (Essl Social Prize)
support
Grant
Examples of investment Essl Social Prize (www.esslsocialprize.org)
Supporting Ashoka Globalizer and Ashoka in Austria and CEE Countries.
154
Media Development Loan Fund
Salvatorska 10
110 00 Prague 1
Czech Republic
Contact Peter Whitehead
Tel +44 7793050670
Email peter.whitehead@mdlf.org
Website www.mdlf.org
OVERVIEW
Mission Media Development Loan Fund is a mission-driven investment fund
for independent news outlets in countries with a history of media
oppression.
Year of origin 1995
Headquarters location Prague, Czech Republic and New York, United States
INVESTMENT
Sector focus Media
Target organisations Type: Social enterprise, independent news businesses
Annual expenditure on VP €6.5 million (2009)
support
Loan
Convertible loan
Equity
Governance
Change management
IT
Legal advice
HR management

155
Media Development Loan Fund
Examples of investment In Zimbabwe, MDLF provided financing and strategic advice to
Alpha Media Holdings (AMH) to launch NewsDay, the country’s first
independent daily in seven years. Since it appeared on the streets in
June 2010, NewsDay has broken the government’s monopoly of the
daily press and has increased its print-run twice to meet the massive
demand for independent information. With MDLF assistance, AMH
was also able to open an independent printing press in Harare in
October 2009. AMH is co-owned by Zimbabwean Trevor Ncube, deputy
chairman of South Africa’s Mail & Guardian, a long-time MDLF client and
the country’s leading investigative paper.
156
MVision Private Equity Advisers
Connaught House, 1-3 Mount Street

London W1K 3NB
United Kingdom
Tel +44 207 491 8500
Email js@mvision.com
Website www.mvision.com
OVERVIEW
Presentation MVision Private Equity Advisers is widely recognised as the world’s
leading independent international alternative assets placement and
strategic advisory firm, focusing on Private Equity, Real Estate, Real
Assets, Credit and direct transactions, in both the developed and
emerging markets.
Year of origin 2001
Activities International alternative assets placement and strategic advisors
INTEREST IN VP
MVision provides hands-on-support, advice and sponsorship to a number of academic institutions
and Venture Capital associations including the Private Equity Institute at the London Business
School, Cass Business School, INSEAD Business School, European Venture Capital Association (EVCA),
Emerging Markets Private Equity Association (EMPEA), Australian Private Equity & Venture Capital
Association (AVCAL) and the New Zealand Private Equity & Venture Capital Association (NZVCA).
One of MVision’s management team is the Chairman of the EVCA Working Group for Responsible
Investment and instrumental in setting up a worldwide association for promotion of know-how on
ESG issues for private equity. MVision professionals participate in our corporate programme, MPhil
which supports individual staff philanthropic initiatives including supporting a number of local
charities globally.
MVision raises capital for and advise on a wide variety of alternative assets funds and investment
strategies, including direct transactions and managed accounts, leveraging all resources for each
client. MVision executes as one team - an industry-leading group of 50 professionals operating out of
offices in London, New York and an associated consultancy office in Hong Kong, covering established
and new institutional investors in North America, Europe, the Middle East, Asia, Australia and other
markets. MVision has established a reputation for delivering the highest levels of strategic advice,
private placement skills and professionalism, routinely exceeding the most demanding expectations
of its clients worldwide.
157
Natixis Private Equity
5/7 rue de Monttessuy

75007 Paris
France
Contact Xavier Thauron
Tel +33 158192221
Email xavier.thauron@natixis-pe.com
Website www.natixis-pe.com
OVERVIEW
Presentation Private Equity for small and medium sized companies in Europe, Asia &
America. Natixis Private Equity operates in venture, growth capital and
fund of funds through 15 dedicated investment teams based in Europe:
France (Seventure, Ventech, Naxicap, Epf & Dahlia), Italy (Cape), Spain
(MCH), Germany (Finatem), Holland (Holland Ventures), Poland (Krokus)
but also in the US (Caspian); in Brasil; in China and India (Eagle).
Fund
Partnership
Year of origin 1984
INVOLVEMENT IN VP
Natixis Private Equity has supported EVPA since 2006, and the Knowledge Centre since its creation in
2010.
PhiTrust Partenaires: the only French Private Equity fund investing in companies with a wide social
purpose, main Venture Philanthropy program of Natixis Private Equity (shareholder, member of the
board and the investment committee, including expertise and involvement on a voluntary basis).
Private Equity department of Natixis: French listed bank member of BPCE Group (Banques Populaires
& Caisses d’Epargne). Major Private Equity investor in French small & medium sized companies.
158
New Philanthropy Capital
3 Downstream, 1 London Bridge

London SE1 9BG
United Kingdom
Contact Tris Lumley
Tel +44 207 77856300
Email tlumley@philanthropycapital.org
Website www.philanthropycapital.org
OVERVIEW
Mission New Philanthropy Capital (NPC) is a consultancy and think tank
dedicated to helping funders and charities achieve a greater impact.
NPC offers advice based on in-depth research of social issues and on
its own unique method of analysing charities. NPC builds knowledge
and tools to support charities and funders and encourage debate about
what makes a charity effective and how to measure impact.
NPC’s mission is to put effectiveness at the heart of how all charities
work and how all funders give. Changing more lives.
Doing good, better.
Year of origin 2001
SERVICES
Strategy consulting
Research
Governance
Impact reporting
Foundation
Government
Sector focus All human welfare sectors
159
The NTR Foundation
Burton Court, Burton Hall Drive, Sandyford

Dublin 18
Republic of Ireland
Contact Tara Humphreys
Tel +353 1 206 3758
Email tara.humphreys@ntr-foundation.org
Website www.ntr-foundation.org
OVERVIEW
Mission The mission of the NTR Foundation is to address the challenges
posed by climate change, resource sustainability and security of
energy supply through the provision of targeted financial and expert
support to entrepreneurial projects, research and non-governmental
organisations.
Year of origin 2010
INVESTMENT
Africa
Asia
Latin America
Environment
Cleantech
Energy
Target organisations Type: social enterprises
Phase: mature or scaling up
Funding available Size of endowment: €5 million cash plus €2.26 million NTR plc ordinary
shares
Average duration of the VP 3 years per investment for international projects
support
Types of financing Grants
Non financial services Marketing and communication

160
The NTR Foundation
There are three strands to the work of the NTR Foundation. Firstly, investment in international
projects, secondly, investment in the communities of NTR Group businesses in Ireland and the US and
thirdly, investment in policy and research.
In terms of international projects, the NTR Foundation will invest in a small number of large multi-
annual international projects that involve both service provision and thought leadership. The NTR
Foundation will seek to support existing work underway, either through strategic partnerships and/or
directly into well-led organisations, which have a strong track record of success.
The NTR Foundation is in the process of selecting an organisation working in the area of clean energy
generation in the developing world, for its first international project investment. This process will be
completed by February 2011, with funding beginning in March 2011.
The NTR Foundation is also funding three projects under the ‘Group Projects’ funding stream. The first
investment supports the Social Entrepreneurs Ireland Awards programme, which provides support
to high-potential, emerging social entrepreneurs. The second investment supports the launch and
publication of the Carbon Disclosure Project Ireland Report 2010. The third investment is for the
Hymany Way Cleanup Project, which will remove illegally dumped waste and clean up and sign post a
new walking way in East Galway, Ireland.
The NTR Foundation is also progressing the funding within the Policy and Research funding stream.
161
OFI Private Equity Capital
12, rue Clement Marot

75008 Paris
France
Contact Olivier Millet
Tel +33 (0)1 40 68 60 44
Email mjeammes@ofi-privateequity.fr
Website www.ofi-pecapital.com
OVERVIEW
Mission OFI Private Equity Capital is positioned on the buyout small cap market,
primarily involving companies that have already gone through an initial
structuring step during a primary buyout (the takeover then entails a
secondary buyout) or an IPO (the takeover then entails a delisting, an
operation referred to as “Public to Private”).
Year of origin 2000
INTEREST IN VP
One of the founder of the Sustainable Development Club within AFIC.
Realisation of a carbon footprint for OFI Private Equity management and its majority held companies .
Setting up of a CSR Charter in 2009.
ESG reporting (extra-financial performance indicators).
Setting up of an external expert committee.
OFI Private Equity Capital has a policy of long-term association with the management of the
companies, who are also investing in their companies for the medium and long term. Its investment
strategy focuses on investing in equity and mezzanine in secondary buy-out transactions of small-
capital French companies valued between €15 million and €75 million.
Furthermore, OFI Private Equity Capital has been one of the first private equity firm to embrace ESG
(Environment, Social & Governance) issues surrounding sustainable development in the investment
strategy and in the development of its majority-held companies, to appoint a Director of sustainable
development in 2008 and to adopt the UN PRI (Principles for Responsible Investment) in 2009.
162
Pantheon Ventures
Norfolk House
31 St James’s Square
London SW1Y 4JR
United Kingdom
Tel +44 20 7484 6200
Website www.pantheonventures.com
OVERVIEW
Presentation Pantheon is a leading global private equity primary and secondary fund
of funds manager.
Year of origin 1982
Originally formed in 1982 as the private equity investment division of GT Management in London,
Pantheon’s management acquired the private equity division in 1988 through a management buyout.
Pantheon has 155 employees (as of October, 2010) with US$22.4 billion in assets under management
(as of 30 June, 2010). The firm works to develop and implement private equity investment strategies
for more than 300 institutional investors, including public and private pension plans, endowments,
foundations and family offices.
Affiliated Managers Group Inc., alongside senior members of the Pantheon team, acquired Pantheon
in 2010. The new ownership structure, with Pantheon management owning a meaningful share of
the equity in the business, provides a framework for long-term succession and enables Pantheon
management to continue to direct the firm’s day-to-day operations.
163
Partners in Ideas Foundation
Tallinas St. 88-5

Riga, LV-1009
Latvia
Contact Dr. Atis Zakatistovs, Chair of Board
Tel +371 67 29 46 46
Email info@idejupartneri.lv
Website www.idejupartneri.lv
OVERVIEW
Mission Partners in Ideas Foundation (PIF) is an independent, private foundation
in Latvia promoting philanthropy focused on long-term changes.
Year of origin 2006
Headquarters location Riga, Latvia
INVESTMENT
Geographical focus Latvia
Environment
Phase: various stages of development
Annual expenditure on VP €20,000 in 2009
Funding available Size of endowment: approx. €16,000
Change management
Networks
PIF supports social entrepreneurship start-ups, initiatives addressing the quality of education, and
adequate employment opportunities for people with disabilities, strengthening NGO financial and
organisational capacity through close partnerships with leading businesses and collaboration with
the public sector. In 2009 PIF started a new initiative to set-up a pro-bono legal center.
Although PIF’s long-term ambition is to become a Venture Philanthropy fund, currently it acts more
as an operational foundation, convening networks and garnering financial support for specific, long-
term initiatives targeted at solving pressing social problems.
164
Permira
80 Pall Mall
London SW1Y 5ES
United Kingdom
Tel +44 207 632 1115
Contact Chris.davison@permira.com
Website www.permira.com
OVERVIEW
Mission Permira is a European private equity firm with global reach. The Permira
funds, raised from pension funds and other institutions, make long-
term investments in companies with the ambition of transforming their
performance and driving sustainable growth.
Year of origin 1985
INVOLVEMENT IN VP
In June 2005, Permira and CAN (Community Action Network) launched Breakthrough I, a UK-based
fund that was set up to provide strategic support and growth capital to social enterprises with the
ambition and potential to significantly scale up their business and thereby maximise their social
impact. Breakthrough II was launched in October 2007 and supports leading organisations such as
Speaking Up and Teach First.
In Germany, the Permira funds have invested in another such programme, ORK (Off Road Kids), which
is seeking to increase its social impact by using private equity techniques to support and sustain
growth.
165
Pontis Foundation
Grösslingová 59
811 09 Bratislava
Slovakia
Tel +421 2 5710 8111
Email pontis@pontisfoundation.sk
Website www.pontisfoundation.sk
OVERVIEW
Mission Pontis Foundation encourages and supports the development and
long-term financial sustainability of Slovak non-profit organisations.
It supports the development of corporate philanthropy and
corporate social responsibility and provides consultancy for creating
philanthropic strategies.
The Foundation also contributes to the development of civil society
in non-democratic and transition countries and supports the
development of a foreign policy for Slovakia and the European Union
that is based on values of democracy, respect for human rights and
solidarity.
Year of origin 1997
Headquarters location Bratislava, Slovakia
INVESTMENT
Geographical focus Slovakia
Target organisations Type: Charity without trading, charity with trading
Grant
The philanthropic activities of corporations and individuals in Slovakia are recognised by the annual
Via Bona Slovakia Award organised by the Foundation. It also coordinates the Business Leaders Forum
– an informal association of firms that commit themselves to enforce the principles of corporate social
responsibility in Slovakia. It is the first Slovak foundation to launch a social venture fund to support
non-profit organisations in Slovakia.
166
PricewaterhouseCoopers S.à r.l.
400 route d’Esch

BP 1443
L-1014 Luxembourg
Contact laurent.probst@lu.pwc.com
Tel +352 49 48 48 25 64
Website www.pwc.com/lu
OVERVIEW
Mission PwC is one of the world’s largest providers of assurance, tax, and
business consulting services. PwC believes that the best outcomes
are achieved through close collaboration with clients and the many
stakeholder communities they serve.
Year of origin 1849
Activities Assurance, Tax, and Business Consulting Services
INVOLVEMENT IN VP
PwC Luxembourg is highly involved in international impact investing projects supported by an
interdisciplinary team which gathers expertise in the areas of investment strategy, risk management,
tax etc. PwC is also involved in projects with foundations for the development of agriculture and
health related issues in developing countries.
167
Private Equity Foundation
2 Bath Place, Rivington Street

London EC2A 3DB
United Kingdom
Contact Julie Nesbitt
Tel +44 (0)207 749 5129
Email julie@privateequityfoundation.org
Website www.privateequityfoundation.org
OVERVIEW
Mission Empower young people to reach their full potential, enable charities to
reach their full potential and help the private equity industry to reach
its full potential.
Foundation
Year of origin 2006
INVESTMENT
Annual expenditure on VP €3.7 million (up to July 2009)
support
Governance
Change management
IT
Legal advice
HR management
Networks
168
Prospectus
20-22 Stukeley Street

London WC2B 5LR
United Kingdom
Contact Simon Butler, Client Service Director
Tel +44 (0) 20 7400 6375
Emai simon.butler@prospect-us.co.uk
Website www.prospect-us.co.uk
OVERVIEW
Mission Prospectus has chosen to specialise in this sector for one reason – the
extraordinary people who work here. Prospectus understands their
vision and values, and like them is committed to addressing the
challenges that face the society. Prospectus does this by searching for
candidates to help build successful organisations and by helping these
candidates to build their careers in the process.
Year of origin 1956
SERVICES
Types of services Recruitment
Target audience Social Purpose Organisations
Geographical focus England and Wales
Environment
Health
Recruiting the right person to lead and manage an organisation is a real investment in its future
success. Prospectus’ consultants have the experience, integrity and expertise to help organisations
find skilled, inspiring leaders. Prospectus has successfully recruited a huge range of senior and
executive level roles, building unrivalled specialist experience of the not for profit sector. Prospectus
has built a reputation for outstanding quality and professionalism, based on attention to detail,
rigorous candidate screening and a genuine understanding of what makes clients unique.
Prospectus is able to offer a total recruitment solution, including full search and selection, candidate
search and profiling, response handling, and bespoke recruitment advertising campaigns. For further
information, please visit Prospectus’ website: www.prospect-us.co.uk.
169
The Rayne Foundation
33 Robert Adam Street

London W1U 3HR
United Kingdom
Contact Tim Joss
Tel +44 (0)20 7487 9650
Email info@raynefoundation.org.uk
Website www.raynefoundation.org.uk
OVERVIEW
Mission The Foundation’s mission is to understand and engage with the needs
of UK society and specifically social bridge building.
Foundation
Year of origin The Rayne Foundation: 1962
Venture Philanthropy division: 2005
INVESTMENT
Health
Social services
Target organisations Type: Charity with trading
Annual expenditure on VP Highly variable
Size of dedicated VP fund: variable
Non financial services Fundraising or revenue strategy
Networks
The Rayne Foundation’s starting point is often social need rather than a specific organisation. Current
examples include:
yy Poor communication and understanding between religion and the media (start-up).
yy Low level of civil society activity in numeracy – unlike literacy (pilots and start-up).
yy Choreographers not sufficiently engaged with social issues but with great potential (scaling up).
170
Salans
5 boulevard Malesherbe
75008 Paris
France
Contact Pascal Chadenet, Sandra Hazan
Tel +33 1 42 68 48 88, +33 1 42 68 47 85
Email pchadenet@salans.com
shazan@salans.com
Website www.salans.com
OVERVIEW
Presentation Salans is a leading international law firm of over 750 lawyers who
serve their clients through offices located in leading financial and
business centres in Western, Central and Eastern Europe, Russia and
the CIS, Asia and North America. Its clients range from industrial and
commercial companies, financial institutions, private funds, successful
entrepreneurs, to governments and state-owned entities.
Year of origin 1978
Activities International Law Firm
INVOLVEMENT IN VP
Salans represents BAC (Business Angels des Cités), an investment fund and EVPA member which
invests in companies created and managed by young entrepreneurs raised in the suburbs of Paris and
other French cities.
Supported charities are: University of Sheffield, Naked Heart Foundation, Cosmetic Executive Women
(Centres de Beauté), Unis-Cité.
171
Scholten & Franssen Consultancy BV
PO Box 59695
1040 LD Amsterdam
The Netherlands
Tel +31 6 17430741
Email peter@scholtenfranssen.nl
Website www.scholtenfranssen.nl
OVERVIEW
Mission Scholten & Franssen is an international consultancy that supports social
entrepreneurship bridging the gap between non-profits and for-profits.
It stimulates social entrepreneurship through consultancy and training.
Year of origin 2003
SERVICES
Performance measurement
Strategy consulting
Foundation
Funds
Government
Geographical focus Worlwide
The consultancy’s clients include major for-profits, smaller non-profits and investors and foundations,
in Europe as well in developing countries.
Peter Scholten is a specialist in the Social Return on Investment (SROI) methodology and has
published three books on SROI. Together with his business partner Boris Franssen, he has published
a Guidebook on Social Entrepreneurship (in Dutch and German). Peter is chair of EVPA’s Social Impact
and Performance Measurement Working Group. One of Scholten & Franssen’s activities is stimulating
double-bottom-line investments by banks and funds. The consultancy encourages financial investors
to invest in social businesses – those with both clearly-stated financial and social objectives – by
balancing financial returns with high social returns.
Through EVPA, Scholten & Franssen expects to stimulate this type of ‘blended-value investing’.
172
Skoll Centre for Social Entrepreneurship
Saïd Business School, University of Oxford

1 Park End Street
Oxford OX1 1HP
United Kingdom
Contact Dr Alex Nicholls
Tel +44 1865 288838
Email Alex.Nicholls@sbs.ox.ac.u
Website www.skollcentre.org
OVERVIEW
Mission The Skoll Centre is a leading academic entity for the advancement
of social entrepreneurship worldwide. It fosters innovative social
transformation through education, research, and collaboration. We
accomplish this by:
yy Developing Talent: offer world-class graduate education that
provides students with the vision and skills to bring together
market-based approaches and social innovation.
yy Advancing Research: generate research that contributes to the
theory of social entrepreneurship and its practical applications to
address critical global challenges whilst developing and supporting
a network of academics and practitioners to disseminate this
knowledge globally.
yy Creating a Collaborative Hub: connect social entrepreneurs with
thought leaders and key players in business, government, and
philanthropy to enhance social impact.
Parent institution Saïd Business School, University of Oxford
VP-related research centre, Skoll Centre for Social Entrepreneurship
relevant Chairs
Year of origin 2003
Headquarters location Oxford, United Kingdom
Research Centres and The Skoll Centre’s research - drawing upon innovative, practical
Chairs approaches implemented by social entrepreneurs – focuses on social
finance, measurement/impact, and networks. Much research looks at
the social investment landscape, including venture philanthropy.
Teaching The Skoll Centre delivers world-class graduate business education. One
course explores social investment, and highlights venture philanthropy
Events The Skoll Centre co-hosts the Skoll World Forum, connecting
accomplished social entrepreneurs with partners and investors who are
essential to advance their impact.
173
Social Entrepreneurs Ireland
First Floor, The Warehouse, 35 Barrow Street

Dublin 4
Ireland
Contact Claire Murphy
Tel +353 1 631 6200
Email info@socialentrepreneurs.ie
Website www.socialentrepreneurs.ie
OVERVIEW
Mission Social Entrepreneurs Ireland enables high potential social
entrepreneurs to maximise their potential impact in addressing social
issues across Ireland through a combination of directed support,
developing their networks and celebration and communication of their
achievements.
Fund
Year of origin 2004
INVESTMENT
Funding available Fund size: €750,000
Equity
Grant

174
Social Entrepreneurs Ireland
Governance
Change management
IT
Legal advice
HR management
Networks
Social Entrepreneurs Ireland works with these high potential social entrepreneurs to enable them to
maximise their impact because it believes that they provide the creativity, innovation and dynamism
required to develop highly innovative and effective solutions to some of society’s most pressing
needs. At the core of our activities is our Social Entrepreneurs Ireland’s activities in its Programme
which provides financial investment and direct support to early stage social entrepreneurs through a
four stage process: selection which identifies high potential social entrepreneurs; celebration which
shares their stories with a wider audience; support which provides an investment package up to
€130,000 and additional support to help them grow their organisations to deliver sustainable impact;
and networking which helps them connect with the stakeholders that are going to be essential to
their success.
175
Social Evaluator BV
P O Box 10192
1001 ED Amsterdam
The Netherlands
Tel +31 6 31207090
Email info@socialevaluator.eu
Website www.socialevaluator.eu
OVERVIEW
Mission The mission of Social Evaluator is to stimulate and facilitate the process
of measuring social value creation within organisations that aim to
optimize social return of their projects.
Social enterprise
Year of origin 2008
SERVICES
Research
IT
Foundation
Funds
Government
Geographical focus International, with a focus on Western Europe and North America
Research interests Application of social impact measurement in specific sectors
Social Evaluator was established in 2008 as a social enterprise by two Dutch social investors and a
leading SROI trainer. Social Evaluator supports organisations throughout the process of analysing and
evaluating social impact. Social Evaluator offers training, on the job support and user-friendly online
software to help its clients to embed social impact measurement in their organisation.
The social e-valuator software is based on the SROI principles. Workflow and calculations are
automated to help users focus on the process of preparing an SROI analysis and collecting the
relevant data from the stakeholders involved. Implementing the software in the social impact
measurement process saves time and improves the quality of decision making.
Social Evaluator connects its clients to stimulate standardisation and learning, with the ultimate
objective of helping them to improve their focus on social value creation.
176
TowerBrook Foundation
Kinnaird House, 1 Pall Mall East

London SW1Y 5AU
United Kingdom
Contact Filippo Cardini
Tel +44 207 451 2020
Email filippo.cardini@towerbrook.com
Website www.towerbrook.com/foundation
OVERVIEW
Mission The TowerBrook Foundation is a charitable foundation that is funded
from the profits of its business. It makes donations to charities that
operate in its communities. The Foundation is an integral part of the
identity and culture of the firm. It reinforces its ethos and furthers the
values it seeks to promote within its business.
INVESTMENT
Geographical focus Western Europe
Phase: Mature
The Towerbrook foundation’s goals are to give back to its communities, to invest in its culture and to
build relationships with its management partners and portfolio companies.
177
UBS
Philanthropy & Values-Based Investing

Bärengasse 16
8001 Zürich
Switzerland
Contact Mario Marconi
Tel +41-44-234 89 91
Email mario.marconi@ubs.com
Website www.ubs.com/philanthropy
As one of the first banks engaging in philanthropy, UBS commitment to this subject goes back many
years. It is a commitment continually reaffirmed, reinforced and expanded. Building on our track
record and experience, UBS has established a single, global team of over 30 experts offering a “one-
stop” professional approach to all aspects of philanthropy, strategic charitable giving and values-
based investing.
Philanthropy & Values-Based Investing delivers services within two distinct areas:
Values-Based Investing
Offers opportunities to leverage an investing style that considers criteria based on social and
environmental values alongside financial returns, e.g. through active pursuit of investment
opportunities in sectors and companies that can generate social and environmental impact as well
as financial returns (impact investments), SRI thematic investments and SRI portfolio screening and
portfolio management approaches.
Philanthropy
Philanthropy Services: provides strategic advice throughout all stages of the philanthropic lifecycle as
well as access to cutting edge knowledge exchange platforms.
UBS Optimus Foundation: offers UBS clients a broad range of options for becoming involved in efforts
in the areas of children’s overall well-being and global health research.
UBS Optimus
Foundation
In v e stin g
Values-Based
G iv in g
Investments
Philanthropy
Services
178
University of Cambridge
Department of Geography
Downing Place
Cambridge CB2 3EN
United Kingdom
Contact Noah Isserman, Researcher, Consultant, PhD Candidate
Tel +44 1223 333 399 (Dept.)
Email ni225@cam.ac.uk
Website www.cam.ac.uk; www.geog.cam.ac.uk
OVERVIEW
Presentation Cambridge is one of the world’s oldest universities and leading
academic centres. The University comprises 31 Colleges and over 150
departments, faculties, schools and other institutions.
The Department of Geography, a subject that has been taught at
Cambridge for more than a century, has 35 academic staff, including
influential economic geographers.
Parent institution University of Cambridge
VP-related research centre, Noah Isserman, Department of Geography, Researcher, Consultant, PhD
relevant Chairs Candidate
Year of origin 1209
Headquarters location Cambridge, United Kingdom
Research Centres and Hopefully to be created.
Chairs
Teaching Occasional discussion in courses and seminars in academic
departments and the Judge Business School. Lecture in Master of
Studies degree in Social Enterprise and Community Development.
179
University of Warwick
Coventry CV4 7AL

United Kingdom
Contact Mary McGrath
Tel +44 (0)24 7652 2661
Email mary.mcgrath@warwick.ac.uk
Website www.warwick.ac.uk
OVERVIEW
Presentation Warwick has attained the position of one of Britain’s leading universities
in the short period since it was founded in 1965. The University is
consistently rated in the top group for the high quality of its teaching
and research. Warwick was the first research-led University to give
priority to widening participation and to lifelong learning.
Year of origin 1965
Headquarters location Coventry, United Kingdom
Teaching Andreas Rasche, Assistant Professor of Business in Society, Warwick
Business School – teaches corporate and social responsibility to
business school undergraduates and the Masters in Management
programme.
Professor Andre Spicer, Industrial Relations and Organisational
Behaviour Group, Warwick Business School.
The University cultivates close and productive links with its local and regional community and will
continue to expand its work at an international level in both teaching and research. It has a strong
tradition of working in collaboration with business and industry and playing an active role in
economic regeneration. Finally, it recognizes that its futures success and direction will be dependent
upon how it embraces and respond to new information and communication technologies.
180
UnLtd Ventures
123 Whitecross Street

London EC1Y 8JJ
United Kingdom
Contact Jonathan Jenkins and Jo Hill
Tel +44 207 566 1100
Email ventures@unltd.org.uk
Website www.unltd.org.uk
OVERVIEW
Mission Reach out and unleash the energies of people who can transform the
world in which they live: people who it calls social entrepreneurs. It
works for a world where people act to make it better.
Foundation
Year of origin 2002
INVESTMENT
Average duration of the VP 1 year
support
Governance
Change management
Networks

181
UnLtd Ventures
UnLtd Ventures is the in-house consultancy division of UnLtd. It provides business support to a
number of outstanding social entrepreneurs, helping them to scale up or replicate their organisations
or get investment ready via its UnLtd Advantage programme. Where appropriate UnLtd Ventures acts
as a broker between its clients and providers of a range of different types of funding. UnLtd Ventures
provides the support and tools that will help entrepreneurs to grow local initiatives into robust and
financially sustainable organisations, through scaling or replicating geographically or reaching out to
different groups in the community.
UnLtd, the Foundation for Social Entrepreneurs, is a charity backed by a £100m endowment, which
supports social entrepreneurs – people with vision, drive, commitment and passion who want to
change the world for the better. A complete package of funding and support is provided to help
these individuals make their ideas a reality. UnLtd are the leading provider of support to UK social
entrepreneurs and offer the largest such network in the world, resourcing over 1,000 individuals
each year through its core Awards programme and supporting tens of thousands more via direct
engagement and partnership awards initiatives.
182
Van Leer Group Foundation
Van Heuven Goedhartlaan 119

The Netherlands
Tel +31206453231
Email andre.betting@vanleergroupfoundation.nl
Website www.vanleergroupfoundation.nl
OVERVIEW
Mission Contribute to Early Childhood development and contribute to
democratic homeland for Jewish people.
Year of origin 1956
Headquarters location Amstelveen, The Netherlands
INVESTMENT
Target organisations Investments
Types of financing Mezzanine finance
Equity
Convertible grant
Non financial services Financial management
183
Wellington Partners
Theresienstrasse 6
80333 Munich
Germany
Tel +49 89 21 99 41 0
Email info@wellington-partners.com
Website www.wellington-partners.com
OVERVIEW
Mission Wellington Partners is a pan-European venture capital company with
offices in London, Munich, Palo Alto and Zurich. Founded in 1998, it
primarily invests in the areas of Life Sciences, Digital Media, Renewable
Energy and Energy Efficiency industries.
Year of origin 1998
Activities Venture Capital
184
Young Foundation – Launchpad
18 Victoria Park Square

London, E2 9PF
United Kingdom
Tel +65 6336 3825
Contact stuart.thomason@youngfoundation.org
Website www.youngfoundation.org
OVERVIEW
Mission Launchpad at the Young Foundation develops promising ideas
into new social ventures by providing funding, social capital and
entrepreneurial expertise.
Foundation
Year of origin 2005
INVESTMENT
Health
Average duration of VP 2 years
support
Types of financing Loan, Equity, Grant
Strategy consulting
Governance
Change management
Launchpad at the Young Foundation selects ideas for their potential to achieve high social impact
through a new innovative, scalable and sustainable venture - business, social enterprise, non-profit
or public institution. It has two main social venture funds currently, Health Launchpad and Learning
Launchpad. Part of the Young Foundation, its goal is to speed up society’s ability to respond to
changing needs. More information: www.youngfoundation.org
185
EVPA
HONORARY
MEMBERS
European Foundation centre
Avenue de la Toison d’Or 78

1060 Brussels
Belgium
Contact: TBC
Tel +32 2 512 8938
Email efc@efc.be
Website: www.efc.be
The European Foundation Centre (EFC) is the leading membership association representing public-
benefit foundations at the European level. It was founded in 1989 and is based in Brussels. The EFC
currently has 230 members including community and independent foundations as well as corporate
funders spread across 40 countries. A large majority (89%) are based in Europe.
The EFC develops and pursues activities in line with its objectives:
Benchmarking and capacity-building - The EFC aims to set standards and build professional capacity
in the sector through a wide range of benchmarking and training activities. All members undertake to
respect the EFC Principles of Good Practice.
Creating an enabling legal and fiscal environment - The EFC is leading the campaign for the creation of
a European Foundation Statute, which would make it easier for foundations that wish to develop cross-
border activities in the EU.
Documenting the foundation landscape - To facilitate the sharing of knowledge and information,
and raise awareness about the valuable work foundations are doing, the EFC produces numerous
publications including Effect magazine (biannual) and the e-newsletter EFC Update.
Networking and partnership building - The EFC promotes collaboration, both among foundations and
between foundations and other actors, to advance the public good in Europe and beyond.
The EFC’s annual conference is the most important opportunity for professionals in the European
foundation sector to meet each other and share ideas.
EFC members have established a range of Interest Groups and Fora which facilitate cooperation and
exchanges of good practice in various fields of activity including: diversity, migration and integration;
human rights and disability; protecting the environment; HIV/AIDS; global health challenges; social
investment; research; Central and Eastern Europe.
The EFC hosts the secretariat of Donors and Foundations’ Networks in Europe (DAFNE), which supports
cooperation among national networks which have been established in 21 European countries.
189
European Private Equity & Venture
Capital Association (EVCA)
Bastion Tower
Place du Champ de Mars 5
B-1050 Brussels
Belgium
Tel +32 2 290 02 30
Mobile +32 477 52 15 53
Web www.evca.eu
The European Private Equity and Venture Capital Association (EVCA) is a member-based, non-profit
trade association and was established in 1983 and is based in Brussels. EVCA represents, promotes and
protects the interests of the European private equity and venture capital industry. Its goal is to create a
more favourable environment for equity investment and entrepreneurship.
With over 1,200 members in Europe, EVCA’s role includes representing the interests of the industry
to regulators and standard setters; developing professional standards; providing industry research;
professional development and forums, facilitating interaction between its members and key industry
participants including institutional investors, entrepreneurs, policymakers and academics.
EVCA’s activities cover the whole range of private equity, from venture capital (seed, start-up and
development capital), to buyouts and buyins.
190
Serge Raicher
Chairman and co-founder of EVPA
After more than 20 years in the Private Equity industry, including at Pantheon Ventures where he
worked as a Partner between 2000 and 2009, Serge Raicher decided to focus on his philanthropic
activities and more particularly on the European Venture Philanthropy Association which he co-founded
and has presided over since October 2008. Serge seats at the Venture Philanthropy Investment and
Management committee of the King Baudouin Foundation in Brussels and is a member of Toolbox
a.s.b.l. Serge holds a MBA from INSEAD.
He is a French national who has lived in Brussels since 1996.
191
Luciano Balbo
Co-founder and board member of EVPA
Luciano Balbo is an Italian private equity entrepreneur with over 20 years in the financial markets. He
is the Founder and Chairman of Fondazione Oltre, the first Italian venture philanthropy foundation,
located in Milan. Since 2003, Fondazione Oltre has developed a thorough knowledge of the social
sector in Italy. In 2006 he raised an innovative Social Investment Fund - Oltre Venture. The fund invests
exclusively in social enterprises that serve the middle and lower classes needs, and present credible
models of sustainability, aiming to realize long-term investments for the benefit of the community.
192
Stephen Dawson
Co-founder of EVPA
Stephen Dawson was one of the first venture capitalists in the UK. He has been involved for 25 years
with ECI, which specialises in mid-market buy-outs; he is now non-executive Chairman. Stephen has
been a non-executive director of six companies which achieved a stock market quotation, including
Guardian iT, ECI’s most successful investment, and Ovum PLC, where he was Chairman. He was
named Personality of the Year at the Private Equity Awards in April 2007. Stephen is co-founder and
former chairman of Impetus Trust, which has pioneered venture philanthropy in the UK. Impetus was
the winner of the grantmaking category at the UK Charity Awards 2008. He is a founder trustee of
the European Venture Philanthropy Association and a co-founder and Chairman of Jacana Venture
Partnership, which is tackling poverty in Africa through investment in small growth businesses. He was
awarded an OBE (Officer in The Most Excellent Order of the British Empire) in June 2010.
193
Michiel de Haan
Co-founder of EVPA
Michiel de Haan has been active in venture capital since 1980 when he founded Atlas Venture, a
European-American venture capital firm that has been involved in more than 300 venture backed
companies. Currently he is General Partner of Aescap Venture, which he founded in 2005. Aescap invests
in emerging Life Science companies in Europe Michiel is past chairman of the European Venture Capital
Association (EVCA) and co-founder of the European Venture Philanthropy Association.
194
Doug Miller
Co-founder and former Chairman of EVPA
Doug Miller is an American, born in Kansas, but has lived the last 30 years in London. He has been active
in the finance industry for over 35 years with senior positions in commercial lending, international
leasing, investment banking and private equity. For the last 20 years, he has run his own company,
International Private Equity Limited, which specialises in raising capital from institutional investors for
private equity funds. He has advised on 24 funds, raising over US$ 6.5 billion. Doug’s charitable activities
prior to EVPA have focused on international development projects, mine-clearing projects in Vietnam,
Laos, Sri Lanka and minority education projects in the US and recently in England. He was also a
founding trustee of Impetus Trust in the UK. Doug is presently doing initial work on launching the AVPN
which will be a sister organisation to EVPA.
195
David Carrington
19 Chelsea Park Gardens

London SW3 6AF
United Kingdom
Tel +44 20 7351 0670
Email davidcarrington@btopenworld.com
Web www.davidcarrington.net
David is an independent consultant working on the promotion of personal philanthropy and social
investment and also on the funding and governance of charities and social enterprises. His clients have
included many endowed, corporate and family foundations, private banks and wealth advisers, the first
venture philanthropy ‘pooled fund’ in the UK, the European Foundation Centre and the UK Government.
He is a member of the Supervisory Board of the Triodos Bank in the Netherlands and has a charity
governance training joint venture (‘On Board’) with the UK’s leading charity law firm. David also works
as a ‘mentor/adviser’ for senior staff of several charities. His many lectures have included several that are
relevant to venture philanthropy).
He has been Chief Executive of three UK foundations including The Baring Foundation (1992-1998).
He is a founding Director of the charitable company that publishes the global journal on philanthropy
and social investment, Alliance and is a member of the Advisory Board of the Centre for Effective
Philanthropy in the USA. Until this year, he has been chair of the editorial group of the Philanthropy UK
e-newsletter and a member of the Social Investment Task Force in the UK.
196
Full Member
Case Studies
199
ARK
The AIDS Care Team

The HIV/AIDS pandemic is decimating sub-Saharan Africa. In South Africa 1,000 people die every day
due to HIV/AIDS, 20 per cent of children are expected to lose a parent by 2012, and five million people
– 18 per cent of the adult population – are infected with HIV/AIDS. Mozambique has one of the highest
HIV/AIDS prevalence rates in the world. The health system is desperately under-resourced: there are only
650 local doctors for a population of 20 million. Only 24 per cent of people have access to Antiretroviral
Therapy (ART).
ARK’s vision is to work towards an ‘AIDS-free generation’ where children are not born with HIV and where
HIV+ parents are well enough to look after their children.
By far the most significant problem at local primary clinics is a shortage of qualified personnel to take
on the additional highly-complex workload of providing and supporting antiretroviral therapy (ART).
ARK’s solution is to undertake the rapid recruitment and training of clinicians to establish SWAT (Swift
Antiretroviral Treatment) teams.
A gap analysis is conducted in each clinic and SWAT teams are put together to meet their own specific
requirements. SWAT teams are made up of any combination of doctor, pharmacist, pharmacy assistant,
nurse, nursing assistant and data capturer, depending on the need of the clinic to provide the extra
service of an ART programme.
As well as employing SWAT teams, ARK employs teams of community-based health workers (Patient
Advocates) at each clinic. Patient Advocates support patients with home visits between their clinical
visits to provide advice, care and support and have a dramatic impact on adherence and thus success of
treatment.
In order to not draw staff out of the public health system (and thus further reduce its capacity), ARK will
only accept applications from individuals in the private sector or from retired clinicians.
When a SWAT team has been successfully in operation for three years, the provincial government
takes over the capacity ARK has built by employing the SWAT team directly. This allows ARK to exit and
channel its funding to new clinics, whilst ensuring the sustainability of the service it established.
ARK’s sustainable and replicable system saves lives and builds the capacities of communities to obtain
and stay on treatment.
In townships and villages of South Africa, AIDS affects over 20 per cent of young families. Every year
over 60,000 babies are born with HIV and most die before their second birthday. The transmission of HIV
from mother to child can be dramatically reduced with the right care. ARK has launched a programme
focussing on the Prevention of Mother to Child Transmission (PMTCT) of the HIV virus to address the
key gaps in PMTCT delivery; improve HIV testing uptake by mothers and provide a comprehensive,
holistic package of care to HIV+ mothers and their infants. The programme is working to reduce the
transmission rate to less than 5 per cent and treat a further 2,600 mother-baby pairs by 2011.
201
BonVenture Management GmbH
Germany: DialogMuseum GmbH

The DialogMuseum GmbH (the ‘Dialogue Museum’) was launched in Frankfurt, Germany, in 2005. This
model project promotes the integration of the visually handicapped in the world of work, while also
opening up new perspectives for sighted people.
The exhibition is kept in complete darkness – sighted people, now ‘blind’, are led through it by blind
or visually handicapped guides. In this way, the handicapped can develop their skills in a work
environment, while sighted people have the opportunity to sharpen their senses and swap roles. Visitors
can also test their communicative competence by trying their hand at the games in the ‘Casino for
Communication’. The venture is expected to generate an annual income of about €500,000 and 50,000
to 80,000 visitors each year.
DialogMuseum GmbH was granted a loan for bringing the internationally-successful concept of
‘Dialogue in the Dark‘ to Frankfurt. This start-up loan also covered the equity capital needed to found
a limited company. The company is progressing as planned. In the next four years the loan will be paid
back out of surpluses.
BonVenture has invested in the ‘Dialogue Museum’ because the founders are highly professional and
the concept itself promises to be an effective way to promote the long-term integration of handicapped
people into the workplace.
202
Breakthrough
Speaking Up
In 2008, Breakthrough invested in Speaking Up, a social enterprise providing advocacy services for
people with disabilities. The investment was to support and fund its regional expansion plans. In April
2010 Speaking Up merged with another provider of advocacy services – Advocacy Partners – to become
one of the largest providers in the UK. Breakthrough played a critical role in the merger, including:
yy Funding merger feasibility study
yy Mobilizing specialist merger advice
yy Governance expertise
yy Scoping 100-day plan
yy Continuing post-merger Chief Executive mentoring
yy Specialist mentoring and operational support to management team
A reinvestment in Advocacy Partners Speaking Up supports a new programme to increase quality and
productivity in service delivery. Jonathan Senke, Chief Executive of Advocacy Partners Speaking Up,
says: “[A] merger can be a complex and time-consuming process for any organisation. The expertise
and support provided by Breakthrough has meant that we have been able to keep entirely focused on
the people who use our services and on our service provision, while developing our new organisation.
Now that we are over 100 days, we are developing new quality standards and investing in new ways of
working to ensure that we provide the best services to people who need them and remain the sector’s
leading provider. The investment from Breakthrough will, once more, ensure that the voices of some of
the most vulnerable people in society are heard and respected.”
203
CAF Venturesome
Beat
Beat is the UK’s leading charity supporting people affected by eating disorders and campaigning on
their behalf. Beat provide helplines and a self-help network across the UK for sufferers to talk about their
experiences. They also work with professionals in the education and healthcare sectors to build their
understanding of eating disorders.
Venturesome’s help
Although Beat’s fundraising pipeline suggested it would meet its budget for the year, there was little
certainty about the timing of income. Venturesome provided a £60,000 ‘standby’, meaning a line of
credit available to borrow if needed.
The security of the safety net offered enabled Beat to proceed with confidence, and avoided the charity
having to cut costs, which would have had a negative impact on service levels and Beat’s future growth
plans.
From stability to growth

Having stabilised core funding, Beat later identified the opportunity to develop ‘on-mission’ trading
activities. Beat could not afford to risk its reserves to develop these activities. Venturesome provided a
£100,000 unsecured loan to help the charity make the required investment to proceed with its plans, to
be repaid over three years.
The charity has since established a strong and diverse funding base, enabling it to work with 140,000
people a year, a fourfold increase since 2005 when Beat was first in touch with Venturesome.
204
Canopus
Brazil: The Quiron Project

An initiative of the Institute for the Development of Natural Energy and Sustainability (IDEAAS) in Brazil
and the Horus Institute, the Quiron Project, which began in 2002, combines income generation in rural
areas with sustainable development, improvement of the quality of life quality and landscape, and
environmental conservation.
The project’s components include:
yy use of renewable energy;
yy use of native species for purposes such as firewood and wood to use as shelter for cattle and
windbreaks.
yy restoration of degraded areas and environmental conservation;
yy management of natural grasslands for cattle breeding.
CANOPUS has donated social venture capital to the project, as well as providing business development
assistance (for instance, senior staff support to achieve objectives, help identify investors and partners
for the project to finance the business plan and the project implementation, help promote and market
the project and its results throughout the European Community, and provide logistical support for
IDEAAS regarding investors and suppliers).
205
The Children’s Investment Fund Foundation
Global Alliance for Improved Nutrition: reducing maternal and child under-nutrition
Through this initiative, CIFF aims to provide a market-based solution to dramatically reduce malnutrition
in children and pregnant women.
The Global Challenge
Across the globe, 3.5 million children die every year as a result of malnutrition.
Facts:
yy malnutrition is the primary cause of disease in children under 5;
yy more than 1.1 million annual deaths of children under the age of five are the result of vitamin A and
zinc deficiencies;
yy stunting and iron deficiency anaemia account for over 20% of maternal mortality.
CIFF’s Investment for Children
The aim of this initiative is to reach more than 1 billion people with adequate nutrition, through
fortification of the most commonly-consumed foods, to prevent the deaths of more than 55,000
children and 3,500 pregnant women annually.
The Global Alliance for Improved Nutrition (GAIN) is working to bring high-quality, fortified products to
those across the globe most vulnerable to malnutrition. Working with the public and private sectors,
this initiative will fortify the basic food products with vitamin A, zinc, iron and folic acid consumed
by 80% of the population in 22 countries. As part of this programme, GAIN will also test strategies in
several countries, to target and expand the reach of fortification to populations most vulnerable to
malnutrition.
The initiative is particularly promising because it does not require behaviour change by the consumer
and the benefits can be sustained by the markets and regulation.
CIFF is funding this programme in partnership with the Bill and Melinda Gates Foundation, and is
committed to spending $50 million over the life span of the programme.
Impact
The initiative was modelled after pilot programmes in South Africa and China. In South Africa, neural
tube defects fell by 30% after folic acid was added to maize meal and wheat flour. In China, fortification
of soy sauce with iron resulted in a 33% reduction in anaemia incidences. Though it is too early to see
results, the GAIN initiative is expected to demonstrate a reduction in maternal and child morbidity,
disability and mortality associated with micronutrient deficiencies, and to enhance productivity of
women and children suffering from impaired physical activity due to iron deficiency.
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d.o.b foundation
BASE Technologies
Problem: 85% of the Ugandan population (27 million people), about 5 million households, have no
access to electricity and healthy and safe lighting;
Solution: distribution of 200.000 lamps that will impact the lives of a million people;
Social impact: household income increase due to saving on kerosene expenses, level of children’s
education, productivity and health;
Involvement d.o.b foundation: US$350.000, loan for 3 years at 10%.
BASE Technologies (Uganda) Ltd. is a Ugandan social enterprise that focuses on the distribution of
affordable technological quality products, developed especially for the needs of people living at the
base of the economic pyramid earning less than $4,- a day. Hence, the company name’s etymology.
d.o.b foundation supports BASE’s aim and efforts to make solar light available to a million people by
2011. The solar lamps are to replace the dangerous, unhealthy and expensive kerosene lamps that are
now used by 90% of the Ugandan population.
The approach is to sell 200.000 lighting products through their network of NGO’s, retailers and micro-
franchises. There are six products, varying from a single desk lamp/mobile phone charger; a home
lighting system consisting of four larger lamps, a radio and charger; to the largest product: a village
lighting system, which will be the next product to be released by BASE.
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The EH Foundation
Healthpoint Services Global

As an example of the type of enterprise that the EHF seeks to support, we are pleased to provide details
of our investment in Healthpoint Services Global. Founded by an accomplished serial entrepreneur, Dr.
Al Hammond, Healthpoint is a hybrid healthcare organisation that provides tele-medical consultation
with physicians, a wide range of advanced diagnostics, a licensed pharmacy and clean drinking water in
rural India. Healthpoint is a business which is subject to all the financial metrics and rigors of any other
enterprise aiming to deliver a financial return for its shareholders, but which also aims to generate a
human benefit for the communities in which it operates.
Three Healthpoint units have been in operation since October 2009 with four additional units opening
by the end of the year. Healthpoint directly addresses the life-threatening challenges faced by rural
villagers. Prior to Healthpoint’s entry into the market these rural citizens had no choice of reliable
sources for clean drinking water and quality medical care. The only options available were poorly trained
doctors and there was a lack of approved medicines. As a result, these conditions led to more than one
million child deaths per year from untreated diarrhea, inaccessible or unaffordable healthcare, and tens
of millions of unvaccinated children.
Now, rural Indians within range of a Healthpoint clinic, are able to pay an affordable price for clean
water, medical diagnostics and approved pharmaceuticals. Clean water alone contributes to a higher
standard of health in the village, as does quick and reliable treatment, which reduces overall time
missed at work or school.
As a profit making business, Healthpoint is able to provide a quality of care above and beyond other
local alternatives. The business is anchored in the village and incentivized to keep its costs low for its
customers. Healthpoint is constantly streamlining its business model using effective and sustainable
technologies to refine diagnostic capabilities and pharmaceutical distributions. Healthpoint also
employs locals in each clinic, helping to contribute to the overall economic prosperity of the village.
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Ferd Social Entrepreneurs
UNICUS
UNICUS employs individuals with autism, and undertakes assignments for client companies in areas
where its employees have particular skills as a result of their autism.
Its main area of activity is currently testing IT systems. UNICUS uses the employee’s strengths, interests
and expertise to fill unsatisfied needs within society and businesses at market rates. The company aims
to create both social return and a commercial return on equity for the benefit of shareholders, society,
and not least its employees, who may have difficulty finding employment in the regular labour market,
despite their high level of expertise.
Ferd Social Entrepreneurs supports UNICUS with €150,000 over three years.
New Page
New Page is a non-profit foundation that provides individual support for vulnerable young people.
The members of the New Page team act as role models, mentors and bridge builders in young
people’s own spaces such as leisure, school and home. Through shared goals, motivation, guidance,
activities that promote personal skills and boundless care, the interaction promotes the young person’s
development, with lasting change as its objective. New Page sells its services to the child welfare
authorities, and also offers lectures, workshops and external supervision.
Ferd Social Entrepreneurs supports New Page with mentoring of the management team, a member of
the Board from the Ferd Group, and €625,000 over three years.
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Fondation Demeter
GENERA (Argentina / Peru)

1.6 billion people worldwide lack access to electricity and other forms of modern energy, especially in
rural areas. New solar energy technologies and microfinance experience can be important contributors
to electrifying such regions.
Since 2004 Emprenda (a leading Argentinean Microfinance Institution) has been pioneering the
provision of solar systems to poor rural households in the northwest of Argentina. Combining solar
energy and microfinance, over 1,200 solar systems have been installed and financed by Emprenda in an
environment presenting very unfavorable operating conditions. Emprenda has now reached 6 out of 10
households in its area of influence.
These years of experience have yielded amongst others, 3 key lessons:
yy Impact: solar energy is an effective tool for the reduction of poverty and vulnerability in rural areas.
yy Demand: there is a very large demand for electricity amongst rural families, which is most efficiently
served by solar energy.
yy Sustainability: put together, high demand and market penetration, and good repayment rates,
make the provision of solar energy a viable social business opportunity.
Since 2008, Emprenda has been a partner of Grupo ACP from Peru (www.grupoacp.com.pe), a leading
player in microfinance and social ventures in Latin America for the past 40 years. This alliance gives
Emprenda a strong platform from which to work on expanding its solar energy product regionally.
Emprenda’s experience is the starting point for creating a new business model, that can take advantage
of new technologies in renewable energies and can create the “last mile” channels by which these
solutions can reach rural households.
GENERA is the brand under which Emprenda is developing the business models that could expand the
outreach of solar energy to rural areas of Latin America. Pursuing this objective, in April 2010 GENERA
started operations in a second country: Peru.
Impact
A solar system impacts the life of a poor rural family in 3 main aspects:
yy Quality of life improvement: better quality of light, no risk of fire as with gas and kerosene, no hazard
for human health, less pollution than with batteries, less risks from avoiding snake bites to being
able to make an emergency call from a mobile phone).
yy Income / savings: a rural household can actually save money over time by using a solar system,
compared to its previous expenditure on gas, kerosene and batteries equivalent a total of U$S 2,400.
yy Opportunities as rural homes need electricity to power electronic devices as much as it is needed in
urban areas: radio, cell phone, internet access, TV, productive devices, home devices.
Demeter’s involvement with GENERA

Demeter has been involved with Emprenda since 2003, then a young MFI, and through several areas of
contribution:
yy A soft interest-free loan was provided to enable the loan portfolio to grow at a time when the NGO
was still not eligible for commercial funding. The loan was later cancelled as the NGO transformed
into a for-profit company and developed a more commercially oriented funding strategy.
yy A representative of Demeter was part of the Consultative Board established to help the founders of
the MFI in their consolidation and growth strategy untill the partnership with Grupo ACP in 2008.
yy A new Consultative Board has been set up to assist in the development of the GENERA brand and
project, and a representative of Demeter is a part of it for mentoring and networking purposes.
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The ‘Scuola Oliver Twist’ project in partnership with Cometa and the Region of
Lombardy
The Scuola Oliver Twist project addresses around 250 children from 14 to 18 to whom the conventional
education system has been unable to offer suitable vocational training.
Students of the school comprise children with a middle-school leaving certificate who wish to continue
their education through vocational training, and minors whose right to education is not being met or
unaccompanied foreign minors.
The project seeks to meet the challenge of setting up a school where accommodation, education and
vocational training are inextricably linked and where students can continue their education and also
acquire the vocational skills to facilitate subsequent employment. The project is particularly effective
in case where drop-out from school or learning difficulties are caused by personal, family and social
disadvantages.
The school offers students high-level training courses and a stimulating, interactive educational
environment, combining educational activities with specialist support, including educational
counselling, social assistance, mutual family aid, sports activities, tutoring and opportunities for
participation of their families.
Training and growth opportunities are embodied in proposals that give due consideration to
relationships, emotional, cognitive and behavioural aspects in order to construct a personal professional
path tailored to each student’s characteristics, aptitudes and lifestyle and in which it will be possible to
combine education with a suitable level of technical training.
The three modules
As not all students learn in the same way, the school proposes three training modules:
yy a three-year course for catering sector for students between 14 and 17 with a middle-school leaving
certificate;
yy a three-year course for the textile sector for students between 14 and 17 with a middle-school
leaving certificate;
yy courses intended to prevent drop-out (Liceo del Lavoro). These are intended for minors who are
already following various educational paths but who, for various reasons, are considered to be
potential or are actual drop-outs.
Each training project is unique and ‘personalised’ in order to meet each student’s specific characteristics,
needs, expectations and desires. All three modules envisage a significant number of hours of work
placement, thereby alternating hours of classroom teaching with hands-on experience in the workplace.
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Fondazione Paideia
Listening to children: a journey through their well-being, problems and needs

A Community Participation Project
The Community Participation Project is a multi-year programme that was created by the Paideia
Foundation to find an effective and innovative instrument to respond to the needs and demands of a
community and to propose specific strategies of prevention and support for children and their families
through the spectrum of childrearing to the well-being of the entire family. The towns that were chosen
for the first project (2006-2010) were Moncalieri, Trofarello and La Loggia, which are located around
Torino. A second Community Participation Project (2008–2012) is starting in the 25 towns which are part
of Chieri district, Torino
The Project’s two main goals are;
yy improving the global conditions in the lives of children through the development of indirect and
direct action;
yy creating and strengthening the active involvement of the local community around themes related to
children.
Project Development
Phase 1: Research work
Phase 2: Selection of project ideas
Phase 3: Development of project: financing, monitoring and evaluating programme
The research work includes individual interviews and focus groups (with parents of children from 8
to 13, and those working with children in that age group including pediatricians, social workers and
priests from local churches) and questionnaires. The study also records the children’s perceptions of
their well-being and problems. Based on the research results, Paideia selects projects on child welfare
and provides them with financial and strategic support: in Moncalieri, Trofarello and La Loggia there are
three projects in the start-up phase.
Cooperation and the participation of the community are distinctive characteristics of this type of
methodology. One of the main focuses is the collaboration with public institutions and the active
involvement of community organisations and private groups, as well as ongoing contact with the local
media. The community is an unique and indispensable partner in determining the best strategies and
actions to improve the conditions in children’s lives. In the Community Participation Project the different
phases are profoundly connected: the approach uses instruments and strategies which empower the
local actors throughout the entire process.
See also: Maurizio R., Salvadori G., La città che ascolta i bambini – Moncalieri, Trofarello, La Loggia:
desideri, paure e attese dell’infanzia, Fondazione Paideia, Torino 2007 (available on the website www.
fondazionepaideia.it )
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Helping Hand
Some years ago we used to organise a social entrepreneurship competition to introduce us to
promising social enterprises, but we struggled to find the internal resources for the event organisation
and logistics. To solve this problem and find excellent start-ups for our support portfolio, we created
a special award for social enterprises in the frame of the popular Estonian youth entrepreneurship
contest “Brain-hunt”. Now, the cooperation with “Brain-hunt” team saves us many resources, as they get
extensive media coverage and provide high-quality trainings for their finalists.
We awarded last year’s prize to a non-profit organisation Helping Hand. Its mission is to increase the
employment of disabled people in Estonia. The organisation not only provides workforce to other
companies but also creates jobs proactively, using a social entrepreneurship model. Helping Hand takes
action in the following areas: telemarketing, accounting, computer software development as well as
hardware-related services.
The support by Good Deed Foundation was crucial for the team of Helping Hand to develop its idea
from classical non-profit-model to a social entreprise. Having started their activities only in June 2010,
their forecast for the year 2010 is to provide employment for 60-70 disabled persons.
Helping Hand provides its services around Estonia and its clients include both big corporations as well
as SMEs. In autumn 2010, they expect to start co-operation with Estonian Unemployment Insurance
Fund. Its example will provide inspiration for other young entrepreneurs to apply for our support in the
years to come.
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Impetus Trust
Leap Confronting Conflict

In 2004, Leap was achieving impressive results in its conflict-resolution work with young people.
However, it lacked the clear strategy needed to make the next step and become a national player. With
the support of Impetus, in only four years Leap has grown phenomenally, and is now recognised as the
leading youth conflict resolution charity in the country.
Leap had been in existence for around 15 years when its new chief executive Jenny Rogers came
to Impetus in 2004. The charity had seen demand grow steadily for its pioneering work in conflict
resolution, and Jenny believed there was much room for growth. However, she also recognised that
Leap would need support if it were to become a national player.
During the due diligence process it became apparent that although Leap had a fantastic model, it did
not have a clear strategy. Impetus corporate partner OC&C Strategy Consultants, which undertook
the due diligence, summed up the problem: “Leap gets 100% positive feedback, but the offering is so
complex that no-one can describe what Leap does in less than 45 minutes!”
The OC&C team reviewed Leap’s work and made a number of recommendations, which included
restructuring management, adding a few key posts and building a formal codification of the knowledge
and curriculum.
In early 2005, with Leap’s strategy devised, Impetus formally partnered with Leap. The support package
consisted of £285,000 of Impetus funding (which it leveraged with co-investment of £260,000). Over the
course of the investment, the Impetus Investment Director provided hands-on
management support and also facilitated the deployment of Impetus expert volunteers on 12 specific
projects, which covered strategic, organisational and operational issues.
As a result of the Impetus investment, Leap has fully lived up to its promise – and its name – and surged
forward on all fronts. Income has increased more than threefold and more importantly it is now able to
help many more young people. In addition, Leap has developed its first regional base
in Yorkshire and The Humber and it has developed its courses and qualifications with the Leap Academy,
Leap’s landmark initiative to create much needed formal Youth and Conflict Qualifications, seminars,
publications and training courses for professionals. Leap has continued to focus on maintaining its
research base and “intellectual property” in order to remain a leader in its field.
With a clear strategy, more assured funding, motivated management team and compelling, distinctive
programmes, Leap enters the next phase of its growth with confidence.
“As an organisation, we’re on a different planet now than we were at the beginning of this relationship”.
Jenny Rogers, Chief Executive, Leap
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Inspiring Scotland
14:19 Fund
Focus
14 to 19 year old Scots struggling to make a successful transition from school into education, training or
employment and the next stage of their lives.
Aim
Over an investment period of 10 years, to support 56,000 young Scots to take positive steps towards
education, training or employment.
Impact
yy £6.2 million invested in ventures in 2009; £3.7million invested in six months to June 2010.
yy £4 million additional income leveraged by ventures in 2009; £3.1 million additional income
leveraged in six months to June 2010.
yy Over 3,300 young people actively engaged in venture services in 2009; over 3,100 young people
actively engaged in six months to June 2010.
yy Over 2,300 tangible qualifications and achievements attained by young people in 2009; over 3,100
tangible qualifications and achievements attained in six months to June 2010.
yy Almost 1,000 young people achieved positive destinations of education, training or employment in
2009; over 1,300 achieved positive destinations in six months to June 2010.
yy Inspiring Scotland provides non-financial support in the form of performance advisors, business
mentors and pro bono professional services. Capacity building resources are allocated based on
ventures’ needs, including governance support, business planning, business mentoring, marketing,
communications and organisational development.
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Invest for children
Spain: Project Savings Plan

This year, Invest for children (i4c) offered five more savings plans for life to the best five employees with
Down Syndrome who work for independent companies. The aim is to help the integration of these
employees and to increase their motivation and self-esteem.
Invest for children has chosen Foundation Projecte Aura to implement this project because Projecte
Aura, which uses the Supported Employment methodology, provides a personalised service to over 100
people with Down Syndrome to help their integration into the workplace.
To date, 20 workers have benefited from this initiative, having invested a total of 720,000 Euros.
Spain: Project ‘Habitat’

Habitat is a project that began in 2002 and offers the possibility for youth with Down Syndrome (and
other learning disorders) to live with University students for a 3-month period.
i4c has undertaken to pay the rent of Habitat’s apartment for one year.
Italy: Project Ospedale Pediatrico Gaslini

Invest for children has provided the Children’s Hospital Gaslini in Genova with the necessary resources
to acquire new equipment essential for the correct functioning of the Hospital.
At the Hospital Gaslini there are all pediatric specialties, 15 scientific laboratories, professorships, 500
beds with approximately 24,000 patients admissions per year, of which 50% are from other Italian
regions and abroad. Almost seventy-five years since its founding, the Hospital is an international reality
and looks to its renewal and expansion that allows it to maintain its ability to attract patients and to
support research. Recently the Hospital has received the coveted accreditation standards of excellence
based on the Joint Commission International, which aims to improve continuity of care and is supported
by qualified and excellent research.
Haiti: Help to earthquake victims

Invest for children donated N.P.H. Italia/ Francesca Rava 75,000 euros raised to help the victims of the
earthquake that affected Haiti in January 2010. This foundation manages a children’s hospital there. The
donation will serve to attend urgencies, send more doctors, and repair the damage to the hospital.
216
Bridge International Academies (BIA) - Kenya

Situation: Across Africa, formal basic education is regarded as a critical component of any strategy
aimed at tackling the wide-spread poverty amongst millions of the poorest families. However, 30
percent of the world’s total primary school-age children who are not in school live in Sub-Saharan Africa.
Acute teacher shortages, limited physical infrastructure, ineffective teaching methods and the lack of
accountability put a severe strain on many state run primary schools – thereby hindering quality service
delivery.
Solution: BIA has developed a comprehensively researched «build-and-operate» template designed to
efficiently set up, run, grow and replicate quality low-cost primary schools specifically targeted at low-
income/ poor families inhabiting the sprawling slums across Africa. The BIA model includes quality basic
education at affordable fees (4 US dollars per child / month) to children from very poor families - who
currently have limited access to good formal education opportunities.
LGT Venture Philanthropy’s engagement: LGT Venture Philanthropy is engaged with an equity
investment of 200 000 US dollars, and provides BIA with ongoing mentoring support and access to its
network. BIA is part of LGT Venture Philanthropy’s iCats Programme, a program that matches business
professionals with temporary positions in our portfolio organisations, thus channeling necessary know-
how into the organisations.
217
NESsT Europa
Hungary: Kek Madar

Hungarian civil society organisation Kek Madar Foundation is committed to creating economic and
educational opportunities for people with intellectual and physical disabilities. It provides them
temporary employment and job training in order to help them to transition to full-time employment
and independent lives. Kek Madar’s social enterprise is a family-friendly restaurant, called Izlelő
(“Tidbit”), which offers training and employment for people with disabilities, while at the same time
providing a nutritious dining alternative. After having completed the training and worked at the
restaurant, beneficiaries are then equipped to go on to find employment in the open job market, which
enhances their integration into society. Revenues from the restaurant are reinvested into the foundation
to improve its financial sustainability.
Kek Madar has been part of the NESsT Venture Fund portfolio since 2007. NESsT has invested capacity-
building support valued at US$30,000 to Kek Madar for planning and launching the restaurant. It has
also provided US$65,000 in direct financial capital, and recently granted a US$55,000 loan to be used
for the expansion of the business. Through technical assistance, NESsT helped Kek Madar with the
development and implementation of the business plan, a marketing and communication strategy
and fundraising plan, taking into account the subsidy needs of the enterprise. As part of its later stage
support, NESsT assisted the foundation with the improvement of enterprise operations, focusing on
quality and cost effectiveness, revamping the foundation’s administration systems, and drawing up a fair
and predictable remuneration and bonus system.
Ízlelő has shown impressive results exceeding both financial and mission impact goals: revenues
have increased sevenfold since the opening; Izlelő now accounts for 12 percent of Kék Madár’s
annual revenues; sales increased from 40 to 104 portions per day and the restaurant has placed seven
beneficiaries on the open job market while still employing eight. Upon seeing the satisfaction of the
restaurant’s clientele, Kék Madár identified additional market demand and undertook an extensive
business analysis for the expansion of its social enterprise and set about raising funds to expand
the restaurant by purchasing and refurbishing a neighbouring building. Based on its exceptional
performance and its convincing business plan, NESsT chose Kék Madár as the first borrower in its Social
Enterprise Loan Fund. In 2010, NESsT provided a loan in the amount of US$ 55,000 to be repaid in six
years at very favorable conditions.
The expansion builds on strong market demand and past performance and projects increased social
impact by training and employing 17 additional beneficiaries and training its full staff in advanced
restaurant and catering skills. Kék Madár’s social enterprise has been very successful in implementation
and has become a replicable model for transitional and permanent employment for disadvantaged
people.
218
Noaber Foundation
Mentalshare
Location
The Netherlands
Type
Social Investment/Social Enterprise
Social Issue
In the Netherlands, over 2 million people with mental disorders or addiction problems do not receive
any treatment or professionval help. The burdens of this are heavy for the patient, as well as for society.
Due to increasing health care costs, health care takers and insurance companies are looking for new
ways to offer proper care at a reasonable (lower) price.
Solutions
Mentalshare – a social enterprise - provides innovative, evidence-based solutions for prevention
and treatment via the internet at a reasonable cost. Compared to traditional care, online delivery of
interventions is efficient: it can be tailored to the needs of individual clients and creates the opportunity
for a range of additional services. Research has shown that for mental disorders, online treatment is
at least as effective as traditional treatment. Therefore, e-mental health provides an opportunity to
improve both the quantity and quality of care for mental disorders.
Initiative
The Trimbos Institute (NL) seeks to enhance quality of life by engaging in the development and
application of knowledge about mental health, addiction and associated physical illnesses.
With a focus on knowledge sharing, the Trimbos Institute aims to undertake evidence-based activities,
which are innovative and can be implemented in professional settings.
In the past few years, the organisation has started several initiatives in the area of e-mental health. These
initiatives resulted in four different types of interventions: [1] Informative prevention: information about
specific disorders and their impacts, including email contact for client-specific information; [2] Online
self-help: the end-user follows an online course without any help or support from a professional; [3]
Online intervention: the end-user follows an online course with help or support from a professional.
The type of help or support is online, i.e. chat, email, online group discussion, video conferencing; [4]
Treatment supported with online-tools: the treatment of mental health disorders by professionals,
supported by online tools;
The interventions are all evidence-based, based on stepped care, take into account co-morbidity, enable
disease management, cover prevention, treatment and care, have a flexible, modular and iterative
approach and are suitable for different types of professionals: social workers, prevention workers,
nurses, general practitioners psychologists, psychiatrists.
Social Impact
In order to get insight into the social impact of the initiative, the social e-valuator™ is used to value the
social return on investment.
Noaber Foundation
The Noaber Foundation, together with the Trimbos Institute, took the lead in initiating Mentalshare as
a social enterprise. As Venture Philanthropist, we provided non-financial support (e.g. structuring the
organisation as a social enterprise and business plan development), tailored financing (cash and in kind
investments) a multi-year commitment and social performance measurement (the social e-valuator™).
Our high engagement is also reflected in the board seat we have.
219
Oltre Venture
Italy: Solidare
Fondazione Oltre has participated in the setting up of Solidare, a social cooperative comprising
psychologists, psychotherapists and psychiatrists based in Milan and launched in September 2005.
The cooperative offers a range of psychological services, including individual, family and group
psychotherapy; counselling and psychological assistance; self-training courses; and training for schools
and other non-profit organisations.
Importantly, the cooperative offers its high-quality services at a low cost to its clients, making its support
widely accessible. The disadvantaged individuals it targets increasingly face psychological and other
hardships, and find it extremely difficult to access the services they need. Moreover, whilst the public
sector provides very limited psychological assistance, professionals operating in the private sector
charge fees which are prohibitive to many. The services provided by Solidare are unique in the Milan
area, and Solidare also is one of the first of its kind nationally.
Solidare’s key challenge is to become financially self-sufficient within two years, which will depend
primarily on the fees paid by clients, and only partially on donations and public financing.
Fondazione Oltre is investing €40,000 in Solidare over two years. Support provided by Oltre is not only
financial: the Foundation – which has become a partner in the cooperative and is represented on the
Board of Directors – is also actively involved in providing organisational and strategic support.
After only a few months, the initial results are positive: in this short period, Solidare has acquired 60
private clients, and expects to break even at 100 clients.
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The One Foundation
Ireleand: Headstrong
Headstrong, The National Centre for Youth Mental Health (Ireland), was set up by The One Foundation
in 2006 with a mission to empower communities to support young people in Ireland aged 12-25 to
achieve better mental health and well-being. Based on models in Australia and UK, Headstrong works
with existing health, youth and other services to ensure that young people in local communities around
Ireland can get the help they need when they need it.
One Foundation commissioned a feasibility study to design a response to the clear need and
understand the scale of investment that might be needed. It hired a CEO and seconded a One
Foundation staff member to support him as the start-up team, and a co-founder of One Foundation led
the Business Planning process to secure start-up investment. One Foundation holds the Chair and both
co-founders sit on the Board.
In its first year of life, Headstrong has hired a team of 11 staff members, produced research on the state
of youth mental health in Ireland, secured the support of the Minister for Health, and developed the first
county-wide plan for youth mental health (to serve a youth population of 38,000) in Galway, its first site,
and is beginning work in two further sites. In addition, it has leveraged One Foundation’s investment
by 75 per cent. A start-up investment of €1.32 million enabled the Headstrong management team to
secure a further €1 million from the state for its first year. Further investment by One Foundation is
envisaged.
www.headstrong.ie
221
PhiTrust
La Varappe Group, France

The Situation:
Finding a job for those who have become long term unemployed is a paramount social issue. To enable
their effective return to the job market, much has to be done in the way of individual mentoring and
skill building. For reasons inherent to the market economy, regular companies cannot fulfill this role.
The Answer:
La Varappe is a group of companies focused on social reintegration through employment. Through,
training, mentoring and employment, the group enables those who for social, personal or psychological
reasons have been set aside by the system to return to long term employment. To increase the success
of its programs, La Varappe operates in various sectors (construction, waste management, outdoor
maintenance, and renewable energy) and works closely with major industry players.
PhiTrust’s breakthrough support:
Historically set up as a not for profit dependent on public grants, La Varappe hit a wall in its ability
to successfully bid in major tenders. Faced with a fossilizing business model, the group needed an
innovative way to continue to grow and push its social mission. It took strategic and legal assistance
as well as capital and debt investments from PhiTrust to accompany La Varappe in a strategic overhaul
towards its present for profit business. Poised to expand its social impact, PhiTrust and La Varappe have
continued to work hand in hand towards developing strong partnerships within the industry.
The impact:
Over the last three years, La Varappe has become a diversified and profitable group (2009 turnover: 6.4
million €). While some of its lines of business have suffered from market headwinds, it has successfully
anticipated and diversified its business to strong growth sectors. Over this period, the number of
workers (600) benefiting from La Varappe’s mission of social reintegration has doubled and successful
long-term integration is well above the sector’s average.
222
Stiftung Charité (Charité Foundation)
Germany
Stiftung Charité’s efforts are aimed at re-inventing the venture philanthropy model to
support entrepreneurship in and around the life sciences in Germany, especially at Charité –
Universitaetsmedizin Berlin.
As a non-profit foundation, Stiftung Charité selects and supports knowledge entrepreneurs in
academic medicine – changemakers among medical doctors, researchers and health care managers. It
provides milestone-driven grants, coaching and conceptual support as well as political and sometimes
operational assistance.
An example of an ongoing project is the tripartite clinical scientist/academic clinician/medical
entrepreneur model for advanced medical training. These are new career tracks for MD/PhDs who
undergo advanced training to become medical specialists. Currently, such advanced training is
generally unstructured in Germany and follows a one-track-fits-all approach. Graduates are at the mercy
of heads of department and often take a long time to earn their board certification in their specialty.
Stiftung Charité has teamed up with ‘Junge Charité’ –a group of 30 young doctors and researchers
selected for excellence in their academic work – to develop, for the first time in Germany, programmes
that rely on individualised target agreements and that offer a choice of three career options for each
medical specialty: graduates can choose a focus either on translational research, hospital management
or medical entrepreneurship. Stiftung Charité developed the programmes with ‘Junge Charité’, provided
initial funding to help the group build its operational capacity, lobbied with them to overcome
scepticism at the local board of physicians and is now working with them to obtain additional grant
funding from a large traditional German foundation. The aim is to implement these new programmes at
Charité and then bring the model to scale by rolling it out to other German medical schools.
Stiftung Charité also uses a small portion of its endowment to undertake mission-related investments.
One of its initial investments is the MagForce corporation. Spun out of Charité, the company is active
in the area of nanotechnological cancer therapy. Stiftung Charité holds 2.3% of their shares. They
succeeded with an IPO at the small cap bourse in Frankfurt in the autumn of 2007. So far, Stiftung
Charité is on track towards achieving a triple bottom line return with this investment – supporting a
medical innovation for patients with brain cancer, fostering entrepreneurship at Charité and earning a
financial return on its investment.
It will soon be possible to scale up these efforts significantly, because Stiftung Charité is participating,
with other investors, in the launch of an early-stage venture fund. This Charité Biomedical Fund will
focus on medical device innovations with first proof of concept, and it will be professionally run by an
experienced VC firm.
Stiftung Charité’s medium-term goal is to develop a comprehensive medical innovation system in Berlin.
223
UK (but operating in Africa): Riders for Health

Riders for Health manages and maintains the vehicles used in the delivery of health care and other vital
services to rural communities in Africa. A health worker on a motorcycle makes 12-15 times the number
of visits as one on foot. It helps millions of people across Africa to have access to basic healthcare. VPF
has helped with its organisational development and growth strategy.
UK: Kids Company

Kids Company works with children with emotional, behavioural and social difficulties, resulting from
significant experiences of trauma and neglect. Many of them are ‘lone children’ living in chronic
deprivation, with limited or no support from the adults in their family. Kids Company supports 12,000
children and young people annually through a range of services, based on therapeutic principles. VPF
has provided introductions to political lobbying expertise, helping Kids Company to secure a recent
£12m grant from the UK Government and is providing ongoing regular strategic and organisation
management advice to the senior staff.
UK (but operating in the developing world - in Africa, Asia, and Latin America): Basic
Needs
Basic Needs rehabilitates those facing mental health challenges in developing countries through a
community-based model for mental health and development. Basic Needs is the only organisation
attempting to address this problem. The World Health Organisation (WHO) has recently adopted
its model. VPF has provided a strategic sounding board, has been instrumental in the development
of a Basic Needs franchising strategy and has provided important introductions to contacts in the
pharmaceutical industry and the Government healthcare industry.
UK: Training for Life

Training for Life runs successful programmes to bring the long-term unemployed back to work through
entrepreneurial initiatives. It has helped 9,000 long-term unemployed back into full-time education or
employment. It identifies deprived communities where it can help regeneration by creating enterprising
learning communities. VPF has worked with it on strategy and mentoring at different levels of the
organisation. It has also provided an innovative £50,000 convertible loan instrument to help to fund the
working capital requirements of its expansion.
224
Voxtra Foundation
International Development Enterprises, India (IDEI)

The challenge
India, with 1.13 billion inhabitants, has about 830 million people living on less than $2 per day and 270
million on less than $1 per day (at PPP, according to the World Bank). Despite the high growth of the
Indian economy, little is changing for the poorest. The majority of India’s poor are smallholder farmers.
Their productivity is low as they cannot afford appropriate inputs such as irrigation, fertilizer and seeds.
The organisation
IDEI is a social enterprise committed to providing long term solutions to poverty, hunger & malnutrition.
Since its inception in 1991, IDEI has developed a highly effective approach to empowering poor farmers
to break out of the cycle of poverty. Farmers that make a small investment in IDEI’s low-cost micro-
irrigation technologies can harvest three crops per year, instead of just one rain-fed crop during the
monsoon. The extra income they earn can be used for other farming inputs that increase productivity
even more, investments in livestock, children’s education and healthcare. IDEI’s technologies are
manufactured and distributed by commercial players, while IDEI takes care of product development,
quality control and marketing.
www.ide-india.org
The program that Voxtra supports
Voxtra supports IDEI with $2 million over six years to develop a supply chain for low-cost treadle pumps
and conduct marketing activities to raise awareness in the remote and underdeveloped state of Assam
in Northeastern India. The target of the program is to sell 25,000 treadle pumps to smallholder farmers,
enabling the farmer families to increase their net annual cash income by $400 on average. In addition,
the program stimulates the local economy by leading to increased demand for agricultural inputs and
day labor to tread the pumps.
The program commenced in April 2009. By June 2010, more than 2,000 pumps have been sold in Assam
(plan: 1,800), benefiting more than 10,000 people. The program has so far been delivered on 75% of the
budgeted costs.
Why Voxtra selected this program
yy Buying a treadle pump (at a cost of $20-25) and farm inputs (fertilizer etc for $70-75) provides the
farmer with a return on investment of more than 300% in the first year
yy The socio-economic return on Voxtra’s philanthropic investment is conservatively estimated at 24x
the investment (72x when the benefits are valued at PPP)
yy The program reaches the poor: Nearly all the buyers of IDEI equipment (97%) farm less than 1.5 acres
of land (0.6 hectares) and 34% farm less than 0.75 acres (0.3 hectares). Assam is one of India’s poorest
states, with a per capita national product of less than 60% of India’s average.
yy IDEI is an excellent organisation with strong management, well-developed systems for financial
management and impact monitoring, a pragmatic and delivery-oriented culture and a proven ability
to grow the program into new areas. IDEI has received the Skoll Award for Social Entrepreneurship
and the Schwab Outstanding Social Entrepreneur Award, and receives support from the Bill &
Melinda Gates Foundation.
225
European Venture Philanthropy Association
78 Avenue de la Toison d’Or
1060 Brussels
Belgium
EUROPEAN VENTURE PHILANTHROPY DIRECTORY 2010/11

www.evpa.eu.com
info@evpa.eu.com
EVPA is a membership association made up of organisations interested in or practising

venture philanthropy across Europe. Established in 2004, the association is a unique
network of venture philanthropy organisations and others committed to promoting
high-engagement philanthropy in Europe. EVPA’s diverse membership includes venture
philanthropy funds, grant-making foundations, private equity firms and professional
service firms, philanthropy advisors and business schools. Currently the association has 127
members from 20 countries.
EVPA has two main aims: to support its members in carrying out their venture philanthropy
activities, and to promote venture philanthropy throughout Europe. To achieve this mission,
EVPA provides a forum within which European based venture philanthropists can network,
exchange ideas and debate best practice. EVPA also informs potential donors and others
of the role and benefits of venture philanthropy and facilitates its development, with the
aim of increasing knowledge and acceptance of the benefits of venture philanthropy in the
charitable sector. The EVPA Knowledge Centre produces research and proffers collective
industry data and curated resources to develop in-depth knowledge of best practices and a
vision into the future of social investment.
Published with the support of the King Baudouin Foundation

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Leconfield House, Curzon Street, Third Floor

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CAN Mezzanine, 49-51 East Road

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Charities Aid Foundation

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44, rue Vaneau

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Address Via Bigli, 21

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Via San Francesco d’Assisi

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Type of organisation Foundation

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Riverside House, 502 Gorgie Road

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