Venture Philanthropy Fund Launches in Queensland
21 October 2015 at 9:53 am
A new venture philanthropy fund in Queensland, managed by Social Ventures Australia, will connect philanthropists with high-impact portfolios to local for-purpose organisations that are tackling pressing social issues.
Social Ventures Australia (SVA) Queensland Director, Mark Herbertt, said the State has an increasing number of social initiatives looking to achieve financial sustainability or grow their impact.
“We have strong relationships with social purpose organisations in Queensland and have helped outstanding initiatives like QUT’s Exceptional Teachers for Disadvantaged Schools program grow to become a national program reaching students across the country,” Herbertt said.
“This fund is designed to help great organisations access the financial and business support they need to grow the impact of what they are doing, as well as to help philanthropists identify high-impact organisations that can make a big difference to the Queensland community.”
He said the Queensland venture philanthropy fund will select ventures that are in a position to benefit most from SVA’s support, and who share a commitment to building an evidence base to achieve meaningful social impact.
The selected organisations will receive a combination of funding and capacity building support, including advice on business strategy, measurement and evaluation of impact, and opportunities to access new supporter networks.
SVA has run venture philanthropy initiatives in Australia over the past decade, and the funds have assisted organisations, including the Australian Indigenous Mentoring Experience, Career Trackers and Beacon Foundation.
At the launch of the fund, SVA invited expressions of interest from philanthropists and businesses who can offer services, office space or mentorship to the selected ventures.
An advisory committee of Queensland stakeholders will be established to provide guidance to the fund.