Venture philanthropy is an umbrella term that refers to a range of charitable giving behaviors, including investing, volunteering, and donating time and money to organizations.
Venture philanthropy is often used to describe the giving habits of tech entrepreneurs and their investors. For example, when Facebook CEO Mark Zuckerberg donated $100 million to Newark, New Jersey, in 2013 to help improve the city’s schools, he was using venture philanthropy as an example of how he invests in the community.
The venture philanthropy movement began in the early 2000s when venture capitalists began to see the value of giving back to their communities. At the time, the tech industry was growing rapidly, and many venture capitalists believed they could help create a positive impact in the world.
Today, venture philanthropy is still popular for tech entrepreneurs and their investors to give back to the community. For example, in 2017, Airbnb CEO Brian Chesky donated $10 million to San Francisco General Hospital to help fund cardiopulmonary research.
Venture philanthropy can have a big impact on the communities that are targeted. For example, in 2013, Zuckerberg’s donation to Newark helped to improve the city’s schools. In addition, venture philanthropy can help support new business growth. For example, when Airbnb donated $10 million to San Francisco General Hospital, it helped support cardiopulmonary research growth.
Venture philanthropy is also a way for tech entrepreneurs to connect with the community. For example, when Zuckerberg donated $100 million to Newark, he connected with the city’s residents.
