Ashoka's Venture Fund for Leading Social Entrepreneurs

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Risks The risks associated with the Venture Fund are two-fold: the general risk associated with Ashoka’s investment in individuals and the performance of the Venture program in any given year. For the former, the Ashoka selection process is designed to source and screen new system changing ideas to create lasting social impact. It addresses significant uncertainties in terms of program efficacy, due diligence, long-term viability, and long-term replicability, resulting in Ashoka Fellows who represent the apex of the field of social entrepreneurship and innovation in the social sector. Ashoka has over 25 years experience mitigating risk for our partners and investors. Ashoka’s methods of finding and supporting the world’s leading social entrepreneurs are tried and tested around the world under varying circumstances. From the first year, we have rigorously, and successfully, fought against all forms of discrimination and violence and maintained staunch political independence. However, we fully recognize the nature of the world in which we work. To this end, Ashoka is addressing the counterterrorism compliance and risk management challenges of being a global organization. With the assistance of strategic partner, Latham & Watkins LLP, Ashoka formulated a comprehensive counterterrorism compliance program for Ashoka. Upon counsel’s advice, Ashoka has adopted a series of policies that will help ensure that Ashoka’s global activities are in compliance with US, EU, UN, and other regulations. Ashoka has contracted with ChoicePoint Bridger Insight, a leading global compliance and risk management solutions company. Ashoka is building its compliance department to screen all monetary transactions as well as staff, associates, consultants, Fellows and candidates. Ashoka’s counterterrorism compliance program includes: • A screen for donors, investment recipients, and beneficiary organizations against terrorism watch lists. We continue to follow all relevant reporting guidelines for cash and other monetary transactions. • No engagement in new countries without full assessment of relevant legal guidelines. We consult with local and international counsel if necessary to be clear on our liability and risk in entering new countries. • Continuing to certify that resources are only given to individuals or organizations that will further our stated mission and goals.
Ashoka continues to build on our commitment to the highest quality due diligence possible, even as we seek to grow the number of Fellows we elect each year. Regarding the performance of the Venture program, while it is highly unlikely that Fellow elections will fall below the target of 170, it is possible that a sufficient number of leading social entrepreneurs meeting Ashoka’s criteria will not be elected during FY2007 to meet the target. If the Venture funding gap is less than anticipated, the Fund’s resources will nevertheless be directed at the financial support of Ashoka Fellows and associated program expenses. If the Venture Fund does not reach its target of $1 million, all resources will still be used to support otherwise unfunded Venture activities. A poor fundraising environment cannot be predicted, whether due to broader economic conditions or those specific to social entrepreneurship or this Fund. Ashoka currently operates in 60 countries worldwide. Expansions are underway and planned in 2007 to the Philippines, China, Morocco, and the former Soviet Republics. Resources from the Venture Fund could be essential in the start-up phases of these new country programs. Conversely, operations in existing country programs may be suspended due to a change in government, macroeconomic collapse, or other circumstances. The possible geographic impact of the Venture Fund cannot therefore be specified in advance. In case of expansion or closure, Venture Fund resources will continue to be allocated to the countries of most need. Details of the geographic disbursement will be made available in the Venture Fund End of Year Report. Ashoka Fellow Kathryn Hall (USA) reaches young at-risk mothers through mentorship and coaching which ensures that pre-natal care goals are acheived and babies are born healthy to prepared and supported mothers. Here she visits with a young mother in Honduras.
Page 1: Ashoka’s Venture Fund for Leading
Page 4 and 5: Executive Summary Ashoka is the glo
Page 6 and 7: Introduction to the Venture Fund Wh
Page 8 and 9: 2007 Fellows Supported by the Ventu
Page 10 and 11: Fund Structure and Operations The V
Page 12 and 13: Ashoka’s Selection Process NoMiNA
Page 16 and 17: Key Staff Biographies Diana Wells D
Page 18 and 19: Ashoka’s Global Reach Asia Fellow
Page 20: “Ashoka is a great global organiz

Ashoka's Venture Fund for Leading Social Entrepreneurs

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