Nothing Ventured, Nothing Gained: Addressing the critical gaps in risk-taking capital for social enterprise
Authors: Jed Emerson, Tim Freundlich and Jim Fruchterman with Loren Berlin and Keely Stevenson
The worldwide growth of social enterprise is threatened by a dearth of capital. Social enterprises need investment to grow and to innovate – investment that takes on the risk of the enterprise. This kind of capital cannot easily be pieced together from limited grants, conventional equity and ill-fitted debt. As increasing numbers of social entrepreneurs and mission-based financiers seek to enter the field, a question arises: Can the sector develop new instruments and stakeholder relationships to meet this challenge?
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