European Venture Philanthropy Association

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VP in Practice

In this section you will find relevant publications on how to practice Venture Philanthropy and Social Investment. You can use the link below to reach the information you need:


High Engagement
Organisational Capacity-Building
Tailored financing
Non-Financial Support
Multi-Year Support
Impact Measurement


Developing an Investment Strategy
Investment Appraisal
Scaling and Replication




High Engagement

The U.S. Study of the Philanthropic Conversation, U.S. Trust, October 2013

Giving Beyond Borders: A study of Global Giving by U.S. Corporations, Lilly Family School of Philanthropy, October 2013

Nonprofit Challenges: What Foundations Can Do, by E. Buteau, A. Brock, M. Chaffin, The Center for Effective Philanthropy, 2013

Working Well With Grantees: A Guide for Foundation Program Staff, by E. Buteau, P. Buchanan,The Center for Effective Philanthropy, 2013

Working with Grantees: The Keys to Success and Five Program Officers Who Exemplify Them, Buteau, Buchanan, Chu, Centre for New Philanthropy, 2010

Perceptions Matters: How VPP is Learning from Its Stakeholders, Venture Philanthropy Partners, October 2009

Coaching and Philanthropy: An Action Guide for Grantmakers, Grantmakers for Effective Organizations, 2010

More than Money: Making a Difference with Assistance Beyond the Grant, Buteau, Buchanan, Bolanos, Brock, Chang, the Centre for Effective Philanthropy

Organisational Capacity-Building

Cultivating Nonprofit Leadership: A (Missed?) Philanthropic Opportunity, by Niki Jagpal and Ryan Schlegel, March 2015

GEO 2015: strengthening nonprofit capacity, by Grantmakers for Effective Organizations, February 2015

Learning Together: Actionable Approaches for Grantmakers, by William H. Woodwell, Jr. and Rachel Mosher-Williams, 2015

Building the Capacity for Impact. A report on the capacities needed by the social sector to deliver the aims of the social investment market, by Impetus – The Private Equity Foundation, September 2014

Supporting Non-profit Capacity: Three principles for Grantmakers, by L. Bartczak, The Nonprofit Quarterly, Fall/Winter 2013

Business Planning for enduring social impact, by A.Wolk and K.Kreitz, RootCause, August 2013

Guide to Social Impact Bond Development. A technical guide to develop social impact bonds, by L. Barclay & T. Symons, Social Finance Publication, January 2013

Evaluating Social Innovation, by H. Preskill and T. Beer, FSG and Center for Evaluation Innovation, 2012

A brief handbook on social investment, by Katie Hill, City of London Corporation, September 2012

Innovation is not the Holy Grail – it is time to move from innovation as an ideology to innovation as a process,  by Christian Seelos and Johanna Mair, Stanford Social Innovation Review, Fall 2012

Trusteeship 2010: An Update for Charity Trustees, New Philanthropy Capital, July 2010

How to connect with donors: Essential Messages for Charities, Charities Aid Foundation, 2010

The Charities Aid Foundation Grant Programme: Learning from Capacity Building and Lessons from Other Funders, Cornforth, Mordaunt, Aiken, Otto, Charities Aid Foundation, 2008

Beyond Compliance: The Trustee Viewpoint on Effective Foundation Governance, by the Centre for Effective Philanthropy, 2005

Enterprising charities: Transitioning from grants to trading, CAF Venturesome, 2008

Charities and marketing, CAF Venturesome, 2008

Quasi- Equity case study in using revenue participation agreements, CAF Venturesome,2008Enterprising charities- Transitioning from grants to trading, CAF Venturesome, 2008

Rescues of organisations at risk:Rescues or turnarounds of organizations at risk, CAF Venturesome, 2005

Tailored Financing

Choosing Social Impact Bonds – A Practitioner’s Guide, by Emilie Goodall (Bridges Impact+), October 2014

Allocating for impact, by the Asset Allocation Working Group – G8 Social Impact Investment Taskforce, September 2014

Improving the role of equity crowdfunding in Europe’s capital markets, by Karen E. Wilson and Marco Testoni, August 2014

Using private investor capital to increase NGO impact: a framework and key considerations to facilitate engagement, by Population Services International and Zurich Insurance Group Ltd, June 2014

Social Impact Bonds: Lessons Learned, by Daria Kuznetsova & Jenna Palumbo, June 2014

Establishing Social Impact Bonds in Continental Europe, T. Dermine, May 2014

In Demand, The Changing Need for Repayable Finance in the Charity Sector, CAF (Charities Aid Foundation), March 2014

Foundations for Social Impact Bonds – How and Why Philanthropy is Catalyzing the Development of a New Market, by J. Hugues and J. Schere, Social Finance, 2014

Knowledge box, Centre for Social Impact Bonds, Cabinet Office, 2013

Achieving social impact at scale: Case studies of seven pioneering co-mingling social investment funds, Cabinet Office, May 2013

Catalytic First-Loss Capital, GIIN, October 2013

Report on the feasibility and opportunities of using various instruments for capitalising social innovators, by Gunnar Glänzel, Gorgi Krlev, Björn Schmitz, Georg Mildenberger, September 2013

Risky Business social impact Bonds and public services, by N. Keohane, I. Mulheirn and R. Shorthouse, SMF, July 2013

A framework for European Crowdfunding, by K.De Buysere, O.Gajda, R. Kleverlaan, D. Marom, October 2012

The Venture Crowd: crowdfunding equity investment into business, byLiam Collins and Yannis Pierrakis, Nesta publication, July 2012

Understanding the True Potential of Hybrid Financing Strategies for Social Entrepreneurs, by Maximilian Martin, Impact Economy Working Paper Vol.2, 2011

Social Impact Bonds: A promising new financing model to accelerate social innovation and improve government perfromance, Centre for American Progress, 2011

Social Impact Bonds: A Technical Guide to Developing Social Impact Bonds, Social Finance, 2011

Towards a new social economy: Blended value creation through Social Impact Bonds, Social Finance, 2010

Social Impact Bonds: Rethinking finance for social outcomes, Social Finance, 2009

Granting Success: Lessons from Funders and Charities, Brick, Kail, Järvinen and Fiennes, New Philanthropy Capital, January 2009

Acess to capital: A briefing paper, CAF Venturesome, September 2009

Quasi Equity: Case study in using Revenue Participation Agreements, CAF Venturesome, 2008

Spectrum of Investments Options vs Public Benefit purpose, EFC

The Power of underwriting, CAF Venturesome, 2005

Non-financial Support

Learning for Purpose – Researching the Social Return on Education and Training in the Australian Not-for-Profit Sector, by Ramon Wenzel, 2015

Valuable people: Understanding SSE’s Human Capital, by SSE, April 2015

Supporting Grantee Capacity: Strengthening Effectiveness Together, by Anna Pond, GrantCraft, February 2015

Strategy for Impact: NPC’s practical approach to strategy development for charities, by Abigail Rotheroe and Iona Joy, November 2014

“The Practices, Impact and Implications of Inspiring Scotland’s First Five Years” Report by Inspiring Scotland, 11 December 2013

Keystone Performance Survey- Impact Investment: What Investees Think, Keystone Pubblication, 2013

Collaborating for impact: Working in partnership to boost growth and improve outcomes, by A. Kail & R. Abercrombie, NPC and Impetus Trust publication, January 2013

Beyond the Cheque: How Venture Philanthropists Add Value, by Rob John, Skoll Centre for Social Entrepreneurship, 2007

More than Money: Making a Difference with Assistance Beyond the Grant, Buteau, Buchanan, Bolanos, Brock, Chang, the Centre for Effective Philanthropy

Multi-Year Support

For Good And Not For Keeps – How long-term charity investors approach spending on their charitable aims, by R. Jenkins, K. Rogers, Association of Charitable Foundations, February 2013

Impact Measurement

Understanding statistical significance, by Farooq Sabri and Tracey Gyateng, September 2015

Policy Brief on Social Impact Measurement for Social Enterprises – Policies for Social Entrepreneurship, by Organisation for Economic Co-operation and Development (OECD), 2015

The Seven Principles of Social Value, by Social Value International, May 2015

Impact Assessment in Practice. Experience from leading impact investors, by Yasemin Saltuk and Ali El Idrissi | J.P. Morgan Social Finance, May 2015

Influencing Impact Understanding impact measurement in social investment, by SIAA Social Investment Working Group, April 2015

Delivering the promise of social outcomes. The Role of the Performance Analyst, by Emma Tomkinson, February 2015

European Impact Investing Luxembourg: Social Impact Measurement in the framework of a Société d’Impact Sociétal, by Jim Clifford, Dr Lisa Hehenberger, Luke Fletcher and Anna-Marie Harling, February 2015

Creating your theory of change | NPC’s practical guide, by Ellen Harries, Lindsay Hodgson and James Noble, November 2014

THE COMPASS: your guide to social impact measurement, by Kristy Muir and Stephen Bennett – Centre for Social Impact, November 2014

European microfinance and social performance: where do we stand?, by Marie Anna Bénard – EMN, October 2014

Measuring Impact, by the Impact Measurement Working Group – G8 Social Impact Investment Taskforce, September 2014

The future of shared measurement: a guide to assessing individual sector readiness, produced by NPC for Inspiring Impact, July 2014

Putting ‘The Code’ into practice: Thoughts from the Code of Good Impact Practice Learning Forum, by Inspiring Impact , July 2014

Building your measurement framework: NPC’S four pillar approach, by Anne Kazimirski and David Pritchard, June 2014

Starting out on Social Return on Investment | A guide to SROI, by The SROI Network and Hall Aitken, May 2014

Getting Started with IRIS, by IRIS, 2014

IRIS Data Brief: Focus on Beneficiaries, By IRIS and GIIN, March 2014

How funders can better understand their performance: Five easy tools, A White Paper by Giving Evidence, by C. Fiennes and L. Wulf, Giving Evidence, February 2014

Evaluation Plan Guidance. A Step-by-Step Guide to Designing a Rigorous Evaluation, by Social Innovation Fund and Corporation for National and Community Service, 2013

Funding Impact, Impact Measurement Practices Among Funders in the UK, by A. Van Vliet, A. Kail and L. Baumgartner, New Philanthropy Capital, November 2013

The JET Pack, a guide to measuring and improving your impact based on the Journey to EmploymenT framework, Inspiring Impact, by E. Ni Ogain, D. Plimmer, E. Harries, A. Kail,  NPC and Deutsche Bank, November 2013

Measuring Impact – Framework Methodology, International Finance Corporation, September 2013

Impact measurement practice in the UK third sector, by J. Harlock, TSRC, July 2013

Building a performance measurement system, by A.Wolk, A.Dholakia and K.Kreitz, RootCause, August 2013

The Code of Good Impact Practice, by Inspiring Impact,  June 2013

Inspiring Impact: blueprint for shared measurement. Developing, designing and implementing shared approaches to impact measurement, by E. Ní Ógáin, M. Svistak and L. de Las Casas, by NPC March 2013

Measuring Shared Value: how to Unlock Valueby Linking Social and Business Results, by M. Porter, G. Hills, M. Pfitzer, S.Patscheke,E.Hawkins,  by FSG, December 2012

Standards of Evidence for impact investing, by Ruth Puttick and Joe Ludlow, by Nesta, October 2012

A guide to Social Return on Investment, by Jeremy Nicholls, Eilis Lawlor, Eva Neitzert and Tim Goodspeed, January 2012

Data Driven, A Performance Analysis for the Impact Investing Industry, 2011 IRIS Data Report, by the GIIN and IRIS

Inspiring Impact, Working together for a bigger impact in the UK social sector, Tris Lumley, Benedict Rickey, Matthew Pike, New Philanthropy Capital, December 2011

A Journey to Greater Impact, Six charities that learned to measure better, New Philanthropy Capital, November 2011

Tough times, Creative Measures – what will it take to help the social sector embrace an outcome culture?, Urban Institute and Venture Philanthropy Partners, 5 October 2011

Leap of Reason, Managing to Outcomes in an Era of Scarcity, Executive Summary, by Mario Morino, Venture Philanthropy Partners, 2011

The Limits of Nonprofit Impact: A Contigency Framework for Measuring Social Performance. Alnoor Ebrahim, V. Kasturi Rangan. Harvard Business School, 2010

Improving prisoners’ family ties: Piloting a shared measurement approach, New Philanthropy Capital, 2011

Case Study from the KL Felicitas Foundation & the GIIN, IRIS, 2011

What is the relationship between IRIS and SROI?

NPC’s charity effectiveness grading grid, New Philanthropy Capital, 2010

SROI Methodology: An Introduction, Social E-valuator, 2008

A guide to Social Return on Investment, Nicholls, Lawlor, Neitzert, Goodspeed, the Cabinet Office, 2009

Performance Culture: A Survey of our Portfolio I Investments in Organizations Serving Children and Youth, Venture Philanthropy Partners, 2009

Approach to Acessing social impact, CAF Venturesome, May 2008

Simple Measures for Social Enterprise, Trelstad, Innovations, MIT Press, 3(3), 105-118, Summer 2008

Why measuring and communicating social value can help social enterprise become more competitive, Nicholls, The Cabinet Office, 2007

Measuring and/or Estimating Social Value Creation: Insights Into Eight Integrated Cost Approaches, Tuna, Bill & Melinda Gates Foundation, 2008

Valuing Potential: An SROI analysis on Columba 1400, Keen, New philanthropy Capital, 2008

More than making money: measuring the difference your company makes to society, Business in the Community, October 2006


Developing an Investment Strategy

Insights: An annual publication from the Rockfeller Foundation exploring emerging issues of consequence, by the Rockfefeller Foundation, October 2014

Investment Apparaisal

Disentangling Gut Feeling – Assesing the Integrity of Social Entrepreneurs, by A.Achleitner, E.Lutz, J.Mayer, W.Spiess-Knafl, Centre for Entrepreneurial and Financial Studies, August 2011

Barclays Wealth Early Interventions: An Economic Approach to Charitable Giving, in co-operation with new Philanthropy Capital, 2011

An analysis of CSO readiness for social enterprise upon entering the NVF due diligence process, Parad, NESsT, 2009

Business Model Innovation WorkBook: How Social Entrepreneurs Design and Assess Innovative Business Models, Santos, Insead, 2009

Balancing financial risk and social reform, CAF Venturesome, May 2008

Scaling and Replication

Growing Pains: getting past the complexities of scaling social impact, by David Bull, Sarah Hedley and Jessica Nicholls, December 2014

Making it BIG: Strategies for scaling social innovations, by Madeleine Gabriel – Nesta, July 2014

Beyond the Pioneer, Getting Inclusive Industries to Scale, by H.Koh, N. Hedge and A. Karamchandani, Monitor Inclusive Markets, Monitor Deloitte, April 2014

Pathways to grow impact- Philanthropy’s role in the journey, Geo publication, 2013

Planning for scale: how might social venture build scalable models that will fly, by D. Lehner, M. Gabriel and S. Miller Research finding series, UnLtd publication, 2013

Social impact exchange: taking successful to scale, Clark H. Catherine, Grouth Philantrophy network and Duke University, 2012

Growing Social Enterprise: research into social replication, Lidija Mavra, Social Enterprise Coalition, Big Lottery Fund, 2011

Enterprise Solutions to Scale, Shell Foundation, 2010

Effective Capacity Building in Nonprofit Organizations, Mc Kinsey for Venture Philanthropy Partners, 2001

Capacity Assessment Grid, excerpt from Effective Capacity Building in Nonprofit Organizations, Mc Kinsey for Venture Philanthropy Partners, 2001

Going to scale: The challenge of Replicating Social Programs, J. Bradach, Stanford Social Innovation review, 2003

Developing a Franchising Agreement for your Social Enterprise, UnLtd Ventures, 2007

Nonprofit Geographic Expansion: Branches, Affiliates or both?, J.W-Skillern, B. Battle Anderson, Duke University, 2003

Social Enterprise Replication, UnLtd Ventures, 2007


Systems change: A guide to what it is and how to do it, by Ellen Harries, Rachel Wharton and Rob Abercrombie, June 2015

Theory of change for funders: Planning to make a difference, by Angela Kail and Dawn Plimmer, December 2014

Nonprofit Management Tools and Trends 2014, by Paul Carttar, Chris Lindquist and Amy Markham, January 2015

Corporate Community Investment: a whole programme approach to measuring results, Corporate Citizenship, October 2008

Capacity Assessment Grid, excerpt from Effective Capacity Building in Nonprofit Organizations, Mc Kinsey for Venture Philanthropy Partners, 2001

NPC’s charity effectiveness grading grid, New Philanthropy Capital, 2010


Building a movement: Review of the Inspiring Impact programme, by Andrew Weston, Anne Kazimirski and Sarah Handley, August 2015

Funding Free Knowledge The Wiki Way: Wikimedia Foundation’s Participatory Grantmaking, by Nepon Berkley and Matthew Hart, January 2015

A Tale of Two Funds – The management and performance of Futurebuilders England, by Adrian Brown, Lina Behrens and Anna Schuster, July 2015

The Foundry: An Example of a Consortium Approach to Impact Investing, by Debbie Pippard, 2014

The ONE Foundation: ONE│10 Impact Report 2004-2013, September 2014

Innovating Development Finance for Independent Media, David Weiss, Swiss Agency for Development and Cooperation, 2010

A Note on other Debt Financing Innovations: Media Development Loan Fund, World Economic Forum

Creating a Venture Philanthropy Operation: The Impetus Experience, Dawson, 2004

The Venturesome model: Reflecting on our approach and learning 2001-2006, CAF Venturesome, 2007

Finding its soul – tools for responsible microfinance, Interview with Jean-Luc Perron, Managing Director the Grameen Crédit Agricole Microfinance Foundation, February 2012

Oltre Venture and PerMicro: A new  frontier in the Italian landscape, EVPA VP Update, October 2011

Inspiring Scotland: Helping the vulnerable through partnership and collaboration – the investment model behind Inspiring Scotland, EVPA VP Update, February 2011

Phitrust Active Investors: Phitrust finds a hybrid approach to easing ills, EVPA VP Update, January 2011

Voxtra: Voxtra puts the focus on growing a culture of venture philanthropy, EVPA VP Update, September 2010

Bridges Ventures: Bridges Ventures links financial returns to social and environmental benefits, EVPA VP UPdate, July 2010

TowerBrook Foundation:Venture Philanthropy helps TowerBrook Foundation make effective change, EVPA VP Update, May 2010

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