Resource
Adventure Finance
By Aunnie Patton Power
Adventure Finance (May 2022) explores innovative financing models that go beyond traditional venture capital to better serve early-stage entrepreneurs—particularly those in emerging markets. Drawing on decades of research and practical experience, Aunnie Patton Power presents real-world examples of alternative structures such as revenue-based financing, redeemable equity, and recoverable grants, showing how these approaches can enable entrepreneurs to grow while providing viable returns for investors.
This book is a practical and inspiring tool for funders, entrepreneurs, and ecosystem actors. It broadens understanding of the diverse investment options available and demonstrates how they can be applied in practice. Small Foundation supported the launch of Adventure Finance and its online companion, recognising its potential to shift the narrative around early-stage investment and strengthen SME ecosystems across sub-Saharan Africa.