Title of session: Venture Philanthropy in Practice- Plenary 1

Speakers:

James Chen, Chairman, The Chen Yet-Sen Family Foundation

Vidya Shah, CEO, EdelGive Foundation

Richard Gomes, Global Policy and Advocacy Manager, Shell Foundation

Paul Shoemaker, Executive Connector, Social Venture Partners International

Crystal Hayling, Moderator, AVPN Board Member

Summary of the content of the session:

What do you know now that you wish you knew when you started?

James Chen

There is a long road ahead so have perseverance, it takes a lot longer to achieve your goals often

than your initial expectations are. Become a Domaine Expert – be passionate about an issue. Make

sure you are the first person one would call when someone is considering a new project.

Vidya Shah

Go out to find those to support- sometimes you must seek the best projects. Find those who can add

value in the sectors which you choose to invest in.

Richard Gomes

Get comfortable with risk. Have patience. Look at what you can bring to a project in terms of non-

financial support such as marketing, human resources, and governance.

Paul Shoemaker

1) It’s all about the network

2) Don’t do restricted funding

3) Get donors involved

4) Beware of the arrogance of money

5) No one funds long term enough- be prepared to go deeper

What have you learnt about HOW you partner with people?

Vidya Shah

Treat nonprofits as partners and resource providers. Empathy is required, don’t tell them what to

do but rather find out where is your common ground. Solutions are possible- ask partners to assess

where their gaps are.

Paul Shoemaker

Listening is so powerful- practice listening- it is universal- KEEP listening.

Richard Gomes

“Can’t do this alone”- look at things as an ecosystem. Grants can be used creatively- a lack of funds

can constrict growth- try to avoid this scenario.

James Chen

Be flexible- but firm.

The issue of assessment- What has worked? What has not?

Richard Gomes

Don’t collect data which is not useful- look at assessing value impact.

Consider focusing on - jobs created, carbon savings, number of livelihoods improved.

Paul Shoemaker

Evaluate on an annual basis. The context will be different for each organization – do you have a

theory of change? The way in which you fund sets the tone for the entire programme. Look at

highlighting how what you are doing creates an impact on children’s lives.

Questions and Answers:

Question 1: How do you reconcile the need for accurate reporting with restricted funds?

Vidya Shah

There is a need to have a “network of influencers”. Have a middle ground where you can leverage

the work of social institutions to find who would be the best partner to engage with. These issues

are difficult to assess via email- when possible try to arrange a face to face meeting.

Paul Shoemaker

“Unrestricted does not mean unaccountable”. There should be mutual accountability. Need to put

questions to an organization to determine the core issues at stake.

James Chen

Be flexible in reporting. Keep communication channels open and be clear in agreeing what are

realistic expectations.

Question 2: Do you have advice to share on risk?

Richard Gomes

Be prepared- there is a 25% failure rate- “risk- get comfortable with it”. Look to pilot on a small

scale- “Fall Fast and Fail Hard”

James Chen

How do you communicate with your board? Make sure you have accountability. Keep all relevant

parties informed and persevere through difficulties.