University of Michigan Social Venture Fund

The University of Michigan Social Venture Fund (SvF) is the first student-run social venture fund in the United States.[1] Established in 2009 by four Ross School of Business MBA students, the Social Venture Fund invests in innovative and mission-driven social enterprises. The SvF is overseen by Professor Gautam Kaul and housed in the Zell Lurie Institute for Entrepreneurial Studies at the University of Michigan.[2][3] The Fund's mission statement reads, "We are committed to providing strategic and patient capital to early-stage social enterprises led by outstanding entrepreneurs that contribute to the proliferation of the new generation of socially-minded business leaders."[4][5]

The SvF aims to strengthen the leadership of the Ross School of Business by integrating social and environmental issues into business school education. The three overarching goals of the Fund are "To provide an unrivaled action-based learning experience, respond to the latent capital chasm in the field of impact investing in early-stage mission driven enterprises, and pave the way for the emergence of an asset class that blends both financial and social returns." The Fund’s 25-30 members are currently organized into a non-hierarchical structure that includes a lead team and four circles of interest – Education, Environment, Health & Nutrition, and Urban Revitalization.[6][7] The SvF was awarded with the 2010 Ross MBA class gift.[8] The Social Venture Fund is the University of Michigan's third student-led fund, joining the early-stage Wolverine Venture Fund and the pre-seed Frankel Commercialization Fund. The Fund looks to make its first investment sometime in late 2011.[9]

References

  1. ^ Bomey, Nathan (21 September 2010), "[http://www.annarbor.com/business-review/social-venture-fund-university-of-michigan-zell-lurie-institute-venture-capital/ University of Michigan students start nation’s first venture capital fund for social benefits"], AnnArbor.com Newspaper, http://www.annarbor.com/business-review/social-venture-fund-university-of-michigan-zell-lurie-institute-venture-capital/, retrieved June 19, 2011 
  2. ^ Damast, Alison (27 September 2010), "Student Venture Funds Tackle Social Problems", Businessweek, http://www.businessweek.com/bschools/blogs/mba_admissions/archives/2010/09/student_venture_funds_tackle_social_problems.html, retrieved June 19, 2011 
  3. ^ "Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies - Social Venture Fund"], Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies, http://www.zli.bus.umich.edu/wvf/svf_overview.asp, retrieved June 19, 2011 
  4. ^ "Social Venture Fund Annual Report 2009-2010 PDF"], Social Venture Fund Annual Report 2009-2010, http://www.umsocialventure.com/wp-content/uploads/2010/03/Social-Venture-Fund-Annual-Report-2010.FinalVersion.pdf, retrieved June 19, 2011 
  5. ^ Zinsli, Christopher (21 September 2010), "College Showdown: Two Schools Face Off… To Invest Responsibly", Wall Street Journal, http://blogs.wsj.com/venturecapital/2010/09/21/college-showdown-two-schools-face-offto-invest-responsibl/?mod=rss_WSJBlog, retrieved June 19, 2011 
  6. ^ "Focus Areas", UofM Social Venture Fund, http://www.umsocialventure.com/?page_id=31, retrieved June 19, 2011 
  7. ^ "Team – Social Venture Fund", UofM Social Venture Fund, http://www.umsocialventure.com/?page_id=37, retrieved June 19, 2011 
  8. ^ Nickson, Mary (30 September 2010), "Ross Launches Social Venture", News Room – Ross School of Business, http://www.bus.umich.edu/NewsRoom/ArticleDisplay.asp?news_id=20557, retrieved June 19, 2011 
  9. ^ Kutz, Erin (27 September 2010), "University of Michigan Social Venture Fund Comes Out of Stealth, Aims to Invest in Companies at the Nexus of Public and Private", Xconomy Detroit, http://www.xconomy.com/detroit/2010/09/27/university-of-michigan-social-venture-fund-comes-out-of-stealth-aims-to-invest-in-companies-at-the-nexus-of-public-and-private/2/, retrieved June 19, 2011