Venture Philanthropy and Education Policy‐Making: Charity, Profit,and the So‐Called “Democratic State”

This chapter focuses on the role of philanthropic actors in processes of education policy enactment. It concentrates on one specific form of philanthropic organization that has received less attention in the field of education policy, the so‐called venture philanthropy, although, it takes a number of appellatives and shades. The chapter analyses the profiles, agendas, and portfolios of three “new” philanthropic organizations: Omidyar Network, Reach Capital, and LGT Venture Philanthropy. Omidyar's portfolio is Bridge International Academies (BIA). One of Bridge's current investors is LGT Impact Ventures. The first fund would work mainly through the offering of grants and smaller equity ventures mainly with non‐profit organizations and sub‐commercial firms. While the impact fund would take on those ventures that have matured throughout the first phase and are able to generate financial returns in a more sustainable basis, generating profits that would revert back to their investing organizations.