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Legacy members are a dynamic and diverse community of entrepreneurs, leaders, and philanthropists committed to making a positive difference in the world. [Please see important disclaimers at the end of the FAQs.]

– Legacy Venture

FAQ

What benefit does Legacy bring to the community?

Legacy members tap into the power of venture capital to make a more significant difference in the world with their giving:

  • Because of our philanthropic mission, Legacy is attractive as an investor to some of the best venture capital firms, which in turn invest in promising startups that have included—among others—PayPal, Facebook, YouTube and Netflix. We do this while keeping expenses low and thereby maximizing philanthropy.
  • Legacy members also tap into each other’s philanthropic understanding. Our members are a unique community of philanthropists who are committed to significant giving, and many of them have exciting past experiences, skill sets, and a bias for solution and entrepreneurship.

Is Legacy’s proposition unique?

Legacy is one of the only organizations tapping into the financial power of venture capital and combining it with a powerful community. Each is strong, but the combination is unique in the following ways:

  • Legacy’s attractiveness to high-quality firms and low-expense structure maximizes our impact in the world.
  • Legacy’s community includes many extraordinary entrepreneurs and world changers, allowing unmatched peer-to-peer learning within the community.
  • Each part of the Legacy business model is designed to make the other parts stronger in a synergistic way. The community improves the reputation of Legacy, thereby allowing access to better venture funds, and this access increases the philanthropic impact of Legacy. This reinforcing cycle keeps getting better.

Couldn’t I do this on my own?

Not really. For starters, you would be without the benefit of the extraordinary Legacy community. Finding the time and gaining the skill and knowledge to do giving well is difficult, and those who do it well recognize the value of trusted peers. The Legacy community is unique and world-class—a significant value-added resource.

Only the most dedicated investors could do venture capital investing on their own, and still they probably would not get access to oversubscribed funds that have allowed Legacy to invest because of our philanthropic mission. That’s why so many Silicon Valley veterans are part of the Legacy community and have turned to Legacy to fuel their giving.

How do you choose the funds to invest in?

Legacy brings a unique perspective to choosing venture funds due to our general partners’ experience as direct venture capital investors, which is unusual in the fund-of-funds world. Our fund-selection process has three fundamental parts:

  • Part of the process is quantitative. This includes careful analysis of historical performance by firm, of portfolio startup company potential and of individual fund general partner investment track records.
  • But the process is also qualitative: team dynamics, deal flow and strategy. These attributes are difficult to measure and require the intuition gained from direct investment experience of Legacy’s general partners.
  • A final factor is the fit with Legacy. Does the venture firm invest in ways that are consistent with Legacy’s philanthropic mission while achieving maximum economic impact?

Who is in the Legacy community?

The Legacy members are a dynamic and diverse community of entrepreneurs, leaders and philanthropists committed to making a positive difference in the world.

What does it mean for a member to be part of the Legacy community?

We know that everyone’s philanthropy is personal and unique. Legacy strives to understand each member’s passion, interests and experience as a philanthropist so we can tailor our services to meet the individual needs.

We convene and connect our members in areas of mutual interest or in experiences where they can be exposed to new emerging trends such as mission-related investing or strategic philanthropy. And members have the opportunity to discuss their passions with each other.

How do members get together?

Our members gather at events hosted by Legacy. These are in several formats and locations based on the interests of our members. In addition, members often collaborate on areas of mutual interest outside of formal Legacy gatherings.

How does the roster of philanthropic events get set?

Our members tell us their current areas of interest and this, coupled with our own connection to the philanthropic landscape, shapes the calendar of events. Then we define which event format will create the best learning and sharing opportunity: small discussion group, workshop, luncheon, dinner or field trip.

Who decides which nonprofits will get the dollars?

Our members individually decide which organizations they wish to support with their own Legacy distributions. The organizations they support are local, national and international and span across many interest areas including education, the environment, economic development, arts and culture, human rights, medical/healthcare, and religious/faith-based to name just a few. Our members also often give of themselves—as board members, strategic thinkers, experts and collaborators.

Do I give away all my distributions?

Each participant should plan to give away the entire amount, not just what was invested, but whatever it becomes. In other words, all returns will be given away. This is the spirit of Legacy. This intent to give all returns away is perhaps the strongest reason Legacy gets superior access to premium venture capital firms.

Is Legacy Venture a grant-making organization?

Legacy Venture itself is not a grant-making organization, but it does have a sister organization, Legacy Works, which is a publically registered 501(c)3.

What is Legacy Works and what is its role?

Legacy Works is a registered 501(c)3 whose mission is to further the field of philanthropy. Legacy Works does not take unsolicited requests for donations, but it does have several strategic partnerships that focus on furthering its mission.

 

Important Disclaimers

The information and graphics on this site are not an offer or solicitation for the purchase or sale of any securities or financial instruments. Offers and sales will be made only pursuant to a Confidential Private Placement Memorandum which describes the risks related to an investment in the funds managed by Legacy Venture and other documentation regarding the relevant fund, all of which qualifies the information contained herein. Securities or financial instruments mentioned herein may not be suitable for all investors.

Legacy Venture is a Fund of Funds that invests in venture capital firms, which in turn invest in companies. The list contained in the graphic on page 1 is not a comprehensive list of venture capital firms or the companies they invest in and are provided to illustrate the types of transactions entered into by Legacy Venture and the type of companies owned by the underlying venture firms. Legacy Venture has selected the above companies based on name recognition alone. Please contact Legacy Venture for a complete list of venture firms and the companies in which they invest. Not all transactions entered into by Legacy Venture will be profitable. Past success or failure is no guarantee of future performance. Actual performance of any individual’s investment may vary from the performance contained herein due to many factors, including, but not limited to, the timing of investment or withdrawal.