Phil-Entrepreneurs: A New Generation Committed to the Common Good

At the latest Philanthropy Adviser Event, Virginie Seghers, President of the Paris-based firm Prophil and expert in philanthropy and social entrepreneurship, shared insights into how various economic models serving the common good are attracting a new generation of entrepreneurs.

Virginie Seghers is the co-founder of Prophil, a consulting and research firm specializing in emerging economic models that serve the common good. For over ten years, she has been advising a new type of philanthropist—often referred to as "Phil-entrepreneurs"—who explore hybrid models that combine entrepreneurial spirit with a commitment to the common good. Her clients range from business founders and owners to successors and heirs, all sharing a common trait: they see themselves as social actors with both the desire and the capacity to contribute to systemic change in the world.

This shift from traditional philanthropy to more hybrid approaches calls for innovative strategies, such as venture philanthropy, where social impact is approached like an investment, or the recent “Entreprise à mission” legal status in France, which allows companies to formally embed positive societal and environmental goals into their core mission.

According to Ms. Seghers, Phil-entrepreneurs seek to align their personal values with their business activities, and some even choose to transfer ownership of their company to a foundation. The concept of “foundation-owned companies”, particularly well-established in Northern Europe, enables long-term governance and a fair distribution of value. These foundations have a dual mission: to protect and ensure the longevity of the company, and to support a cause of public interest.

Virginie Seghers observes that this model is gaining traction among French business leaders who want their companies to continue operating in line with their foundational values. Well-known examples such as Bosch, Rolex, and Novo Nordisk serve as sources of inspiration. As Seghers summed up, this rapidly evolving landscape reflects the growing commitment of a new generation of philanthropists to social impact and sustainable business practices.

The Philanthropy Adviser Event conferences are regularly organized by the Fondation de Luxembourg to share the latest trends in the philanthropic sector with wealth advisors and private bankers.