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Exploring the Origins and Behavior of Organizations Operating on the Institutional Cusp: The Case of Community Development Venture Capital Author: Julia Sass Rubin Dissertation School: Harvard University Pages: 221 Publication Date: October 2001 Availability: Access Number: 10741 Abstract: 1)Document the status of a new organizational form—community development venture capital (CDVC) funds. CDVC's are organizations which combine community economic development goals with venture capital methods. It is a new industry, the oldest fund having existed for only twenty years. Approximately thirty CDVC's presently operate nationwide, in inner city and rural areas, but very little has been written about these organizations. 2)Evaluate the contribution of CDVC's to community economic development. Those responsible for CDVC creation envisioned these organizations as a means to bring much needed equity capital to areas of urban and rural poverty, thus spurring economic development in those regions. This study will attempt to evaluate how effective CDVC's have been in doing so, and what implications their performances have for future federal and state policymaking. 3)Detail the creation of the CDVC field and the roles various institutional actors have played in bringing it to fruition. CDVC's present an opportunity to chronicle the formation of an organizational field as it is occurring. Furthermore, CDVC's are a good illustration of the role foundations and government policy can play in formulating a new organizational field. 4)Use the CDVC example to formulate a model which explains the creation and behavior of cross-sector organizations. Cross sector organizations are those which contain multiple aspects of public, for-profit and nonprofit types. Over the last two decades, there has been a significant growth in the number of such organizations due to government's increased use of partnerships with nonprofits and for-profits and due to a growing number of nonprofits turning to the marketplace for additional sources of revenue. Current trends indicate that the number of cross-sector organizations is likely to continue to increase. Thus, it is important to understand such organizations and how they differ from more traditional organizational forms. I will use interviews and in-depth case studies to gather data that will enable me to meet my four research objectives. I will interview foundation officers, government officials and managers of the early funds. My analysis of field creation will be based on these interviews, in combination with historical research about how CDVCs related to other US economic development approaches. My case studies will consist of on-site observations of daily operations at approximately six CDVCs, including funds located in all regions of the country. I will interview their equity funding sources and recipients, and review all available internal documents and financial information. |
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