Silicon Valley Social Venture Fund, commonly known as SV2, is a giving network of more than 200 Bay Area-based individuals who partner with SV2 to learn about effective giving and pool their money, talent, and ties to support promising locally-based nonprofit organisations.
Their mission is to utilise the resources and expertise of the Silicon Valley community to achieve significant social impact.
Laura Arrillaga started the Silicon Valley Social Venture Fund (“SV2”) with two goals in mind: 1) giving Silicon Valley contributors humanitarian experience and training that would engage them; and 2) awarding the local non-profits with multi-year grants that would help them grow. The model that SV2 pursued was one in which financial specialists pooled their cash to give huge, multi-year awards to non-profits and furthermore, served as their consultants to enable grantees to meet their ability building objectives.
Arrillaga created SV2 in partnership with Community Foundation Silicon Valley (“CFSV”), a famous foundation that has a background in working with private donors. Arrillaga formed SV2 as a donor-advised fund to ensure that CFSV employees would help SV2 partners, thus making the greatest social impact.
Arrillaga and CFSV built a huge organisation composed of 160 partners. SV2 personally donated $2 million to support 13 local grantees. In the future, Arrillaga and her colleagues hope to continuously develop the business, most notably, to improve SV2’s consulting program to take advantage of partners’ expertise in a better way to benefit grantees.
Here is how SV2 impact on those companies and partners involved with them:
87% – Increased their level of knowledge about local community needs and solutions
84% – Experienced increased confidence in practising effective giving
71% – Said their involvement with SV2 has strengthened their ability to serve as a nonprofit board member, leader, or volunteer.
84% – Felt an increase in ability to conduct effective due diligence on social impact organizations
For instance, California Youth Connection (CYC): which is a youth-led organisation that produces leaders who empower their neighbourhoods to remodel the foster care system through congressional lobbying, policy, and practice change.