This is especially appealing to some new tech millionaires, particularly younger ones. Calif. Not that money isn't a factor - in fact, it's vitally important. But donors are looking for accountability, and want to be assured that their money is being well spent. Whether this reflects a certain flintiness and absence of charity for charity's sake or a renewed social conscience on the part of new millionaires may be open to debate. But people who rely on the largesse of the wealthy like to think it's more of the latter than the former.
People are very interested in measurement and how to know that their dollar is performing.
Across the country, there are perhaps no more than a dozen foundations dedicated solely to venture philanthropy. But older traditional foundations are trying to get involved by launching small venture philanthropy funds. Still others have created what they call social venture funds. And more are trying to build hybrids, using elements of all. By the same token, it is no accident that the Center for Venture Philanthropy is located on Sand Hill Road - ground zero for venture capitalism in Silicon Valley.