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Ingredients Matter: How the Human Capital of Philanthropic and Traditional Venture Capital Differs

Scarlata, MG, Walske, J and Zacharakis, A (2015) Ingredients Matter: How the Human Capital of Philanthropic and Traditional Venture Capital Differs Journal of Business Ethics.

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Abstract

Philanthropic venture capital (PhVC), like traditional venture capital (TVC), provides funding and value added services to a portfolio of entrepreneurial firms. However, TVC differs from PhVC, as the primary goal of TVC is to maximize the economic return of its investments. In contrast, PhVC firms expect their portfolio companies to perform well in terms of both social and economic returns. Using both American and European firms, this paper explores and compares the human capital in PhVC and TVC firm founders. Our results show that there are key differences in both general and specific human capital between these firm types. While both TVC and PhVC firm founders have high levels of commercial experience, TVC firm founders tend to hold degrees in science, engineering, business, and law more frequently than PhVC firm founders. PhVC founders also differ from TVC founders by having greater work experience in the social sector.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > Surrey Business School
Authors :
AuthorsEmailORCID
Scarlata, MGUNSPECIFIEDUNSPECIFIED
Walske, JUNSPECIFIEDUNSPECIFIED
Zacharakis, AUNSPECIFIEDUNSPECIFIED
Date : 30 October 2015
Identification Number : 10.1007/s10551-015-2901-0
Additional Information : The final publication is available at Springer via http://dx.doi.org/10.1007/s10551-015-2901-0
Depositing User : Symplectic Elements
Date Deposited : 14 Oct 2015 15:23
Last Modified : 30 Oct 2016 02:08
URI: http://epubs.surrey.ac.uk/id/eprint/808898

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