Webinar: John Stone on practical examples of venture philanthropy
The Stone Family Foundation, which specialises in providing water and sanitation to communities in need, is at the forefront of innovative financial solutions termed “venture philanthropy”. Founder John Stone explains what it is and why it’s so effective.
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Entrepreneur John Stone founded and built Lombard International Assurance, which by the early 2000s was hugely successful and operating across Europe. He sold it to Friends Provident in 2004.
“We ended up with far more wealth than we’d ever expected or needed,” he says, recorded here in a live webcast to Cazenove Capital clients and friends.
As a result, with his late wife Vanessa he established the Stone Family Foundation, beginning what he’s described as an “eye-opening adventure”: the long process of identifying causes, building programmes, and delivering positive outcomes for individuals and communities around the world.
Over time John developed a distinct – even radical – approach to delivering long-term, sustainable outcomes.
Courtesy of the Stone Family Foundation
He describes this approach as “bringing business-like practices” to the world of philanthropy, and he’s been quoted in the Press as saying he wants to “run giving like a business”.
The approach – which involves moving away from traditional grant-making and instead investing in local social enterprises at the front line – is what is now termed “venture philanthropy”.
In the recording John explains what it means in practice, and provides some detailed case studies.
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