Public Venture Capital Under Executive Domination: Practical Observation And Theoretical Thinking

Venture philanthropy originated in Europe and the United States in the 1990s, mainly launched by non-governmental forces which have been kept a keen interests in public welfare undertakings. In 2006, the concept of venture philanthropy spread into China mainland. Shortly, the operation of venture philanthropy into practice began in the southeast China. According to different situation, every area explore different pattern of venture philanthropy. Since 2012, Nanjing began to carry out the innovative mode of venture philanthropy in 11 districts, the targeted groups are mainly within the scope of the elderly, children and teenagers, the disabled and other relatively vulnerable groups. Operation in Nanjing for three years, the number and amount of targeted groups has increased year by year, so does the social influence. This project selected is called Jinxiu Works-Severe disability social integration plan held by Nanjing Huofenghuang(Fire phoenix) Assistive Center for Disability. First of all, there are detailed introductions to the project’s background, objectives, content and so on, and next is the project processes:the project application, the supervision of the daily monitoring, mid-term evaluation, financial support, non-financial support, the post-project evaluation in the series. The article focus on what roles the government and the relevant administrative departments play in the process of venture philanthropy, so, we draw the conclusion that Nanjing venture philanthropy is dominated by administrative forces. Under this mode, the administrative forces act as an initiator, funder, organizer, and even regulator, of which is different from the characteristic model of venture philanthropy in Europe. What notable is that the administrative leading mode does not exclude the participation of social organizations, but pay more attention to create space for all the social main body’s specialty into full play. In combination with the current situation in China, this kind of mode of venture philanthropy has some advantages, such as integrate various resources efficiently, benefit the target group, but it also expose some problems, the oneness of the financing channel, project evaluation, the relative lack of non-financial support, etc., what’s outstanding is the conflict between the original concept of venture philanthropy and its practice. Thus, this future of mode of venture philanthropy which is dominated by the administrative forces remains to be seen. To this end, the author also puts forward some preliminary thinking and suggestions.