This paper aims to give an insight into how venture capital work with their investments in the school sector. The purpose of the paper is to examine their work, regarding to goals of the company and the process of controlling the goals.  The study also aims to determine the way the companies work with value growth.

This study uses a qualitative research method, where the theories license to operate, the relationship value management framework, agency-principal and new public management theory is tested in relation to the collected data. Eleven persons were interviewed in this paper. This paper also aims to give an overview to venture capital in the school sector, where it will examine whether financial goals could collide with social goals.

What the study can tell is that venture capital does not have a license to operate in this sector, according to the theory. The collision of financial goals and social goals can cause a problem, but an all-around answer can’t be given. What leads to mismanagement is not a question regarding the structure of the ownership but rather about unserious owners, which can come in different forms, not just venture capital. The companies included in this paper do not work with the operational work, they delegate that work to the schools. They act as active owners through strategic directions and decisions for the schools. The companies included in this paper work with long-term aims even though they act as owners in short-term.