This dissertation deals with founding visions in the venture capital setting. It is the story of two contrasting initiatives for venture capital as they unfold in the turbulence surrounding the millennium. It is the story of these contemporary initiatives seen in the light of what was originally intended, as we uncover the founding vision for an initiative that pioneered a venture capital phenomenon of global dimensions. It is the story of people and the reasons for their commitment.

The research draws on the complexity of human nature to problematise the venture capital phenomenon, by studying founding visions for unfolding initiatives in terms of intended purpose, intended beneficiaries, and psychic income. Three distinct visions are found in the rich stories of meaning and practice. By interpreting such visionary elements and their manifestations, implications of particular venture capital initiatives on the strategic and human levels are discussed. Streamlining, fraternity and pioneering visions involve different implications for affiliates as well as the socio-economic landscape as a whole.

Such reflections on what is and what has been give food for thought as we look towards the future. As a pioneering vision loses its spark to a streamlining landscape, tensions between venture and capital bring forth the question of who will provide venture capital in its original meaning of venturing into the unknown.

This study contributes to our understanding of visions by bringing three dimensions to a concept that is typically treated one-dimensionally. In this sense, it gives a higher resolution of the vision concept which may refine our reasoning regarding such issues.

The study also contributes to our understanding of the value that lies in seeking affiliates and partners with visions that harmonise with one’s own. This is particularly relevant for a business founder who is considering the avenue of venture capital, or a venture capitalist who is striving to bring a pioneering or a fraternity vision to life.