Philanthropic Venture Capital aims to delineate the current state of philanthropic venture capital, identifying differences with traditional venture capital financing, and offers directions for future research. It focuses on understanding what philanthropic venture capital is and how its social value creation investment logic makes it different from traditional venture capital. The monograph starts with a definition of philanthropic venture capital. Second, an overview of financing available for social entrepreneurs is discussed focusing on those characterized by a level of investor engagement. Third, data on the philanthropic venture capital sector in the United States and Europe is presented in terms of age of the sector, legal form of the philanthropic venture capital firm, capital under management and location of portfolio organizations. Fourth, investment practices implemented in philanthropic venture capital are identified according to the different phases of the investment process in traditional venture capital and further research opportunities are identified. The monograph concludes drawing implications for both academics and practitioners.