社会创业和慈善风险资本融资

IF 4.8 Q1 BUSINESS
Nivedita Sinha, Shreya Biswas
{"title":"社会创业和慈善风险资本融资","authors":"Nivedita Sinha,&nbsp;Shreya Biswas","doi":"10.1002/bsd2.70011","DOIUrl":null,"url":null,"abstract":"<p>Philanthropic venture capitalists (PhVCs) are instrumental in providing access to capital to social enterprises. Our research aims to provide a comprehensive analysis of PhVCs in India. Using deals data for Indian startups from 2014 to 2020, we observe that, on average, 15% of the startup deals are PhVC-funded, and the majority of these deals are in the early or growth stage of financing. Our research examines the challenges faced by social entrepreneurs by analyzing the point of negotiation between PhVCs and social entrepreneurs. We find that, on average, the post-money valuation of social entrepreneurial ventures is lower than that of traditional start-ups, suggesting towards the possibility of lower negotiation power compared to traditional entrepreneurs. This relatively lower valuation exists for all regions in India for growth and the late stages of financing. The study is important from a policy perspective to understand how policies can promote SEs and facilitate the smooth functioning of PhVCs looking to invest in social ventures. Improving venture capital funding avenues for social entrepreneurs is the key to reducing social ventures' financing constraints.</p>","PeriodicalId":36531,"journal":{"name":"Business Strategy and Development","volume":"7 3","pages":""},"PeriodicalIF":4.8000,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Social entrepreneurship and philanthropic venture capital financing\",\"authors\":\"Nivedita Sinha,&nbsp;Shreya Biswas\",\"doi\":\"10.1002/bsd2.70011\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>Philanthropic venture capitalists (PhVCs) are instrumental in providing access to capital to social enterprises. Our research aims to provide a comprehensive analysis of PhVCs in India. Using deals data for Indian startups from 2014 to 2020, we observe that, on average, 15% of the startup deals are PhVC-funded, and the majority of these deals are in the early or growth stage of financing. Our research examines the challenges faced by social entrepreneurs by analyzing the point of negotiation between PhVCs and social entrepreneurs. We find that, on average, the post-money valuation of social entrepreneurial ventures is lower than that of traditional start-ups, suggesting towards the possibility of lower negotiation power compared to traditional entrepreneurs. This relatively lower valuation exists for all regions in India for growth and the late stages of financing. The study is important from a policy perspective to understand how policies can promote SEs and facilitate the smooth functioning of PhVCs looking to invest in social ventures. Improving venture capital funding avenues for social entrepreneurs is the key to reducing social ventures' financing constraints.</p>\",\"PeriodicalId\":36531,\"journal\":{\"name\":\"Business Strategy and Development\",\"volume\":\"7 3\",\"pages\":\"\"},\"PeriodicalIF\":4.8000,\"publicationDate\":\"2024-09-05\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Business Strategy and Development\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1002/bsd2.70011\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Strategy and Development","FirstCategoryId":"1085","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/bsd2.70011","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0

摘要

慈善风险资本家(PhVCs)在为社会企业提供资金方面发挥着重要作用。我们的研究旨在对印度的 PhVCs 进行全面分析。通过使用 2014 年至 2020 年印度初创企业的交易数据,我们发现平均有 15%的初创企业交易是由 PhVC 资助的,而且这些交易大多处于融资的早期或成长阶段。我们的研究通过分析 PhVC 与社会企业家之间的谈判点,探讨了社会企业家面临的挑战。我们发现,平均而言,社会创业企业的融资后估值低于传统初创企业,这表明与传统企业家相比,社会创业企业的谈判能力可能较低。在印度所有地区,成长期和融资后期的估值都相对较低。从政策角度来看,这项研究非常重要,有助于了解政策如何促进社会企业的发展,以及如何帮助那些希望投资社会企业的风险投资公司顺利运作。改善社会企业家的风险资本融资渠道是减少社会企业融资限制的关键。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Social entrepreneurship and philanthropic venture capital financing

Philanthropic venture capitalists (PhVCs) are instrumental in providing access to capital to social enterprises. Our research aims to provide a comprehensive analysis of PhVCs in India. Using deals data for Indian startups from 2014 to 2020, we observe that, on average, 15% of the startup deals are PhVC-funded, and the majority of these deals are in the early or growth stage of financing. Our research examines the challenges faced by social entrepreneurs by analyzing the point of negotiation between PhVCs and social entrepreneurs. We find that, on average, the post-money valuation of social entrepreneurial ventures is lower than that of traditional start-ups, suggesting towards the possibility of lower negotiation power compared to traditional entrepreneurs. This relatively lower valuation exists for all regions in India for growth and the late stages of financing. The study is important from a policy perspective to understand how policies can promote SEs and facilitate the smooth functioning of PhVCs looking to invest in social ventures. Improving venture capital funding avenues for social entrepreneurs is the key to reducing social ventures' financing constraints.

求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
Business Strategy and Development
Business Strategy and Development Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
5.80
自引率
6.70%
发文量
33
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信