This lecture and discussion will explore the evolving area of practice of so-called venture philanthropy – a form of impact investing and blended finance – and why it is important. The speaker will examine criticisms of this approach to philanthropy and explain why acknowledging them doesn’t take away from the fact that philanthropy and government spending cannot by themselves tackle the complex social and environmental challenges facing the world.

He will argue that future challenges in fact require efforts of personal and community wealth building that will only occur when the distinctive talents of venture philanthropy are unlocked. Venture philanthropy has a vital part to play in catalysing public and private capital, initiating its strategic deployment for systemic impact, and in fostering capital with a tenacious commitment to working at the frontier of practice over generational time horizons. This is a role that philanthropy as a field has only begun to understand and practice and where building a rigorous evidentiary basis could prove transformative.