Social innovations are solutions related to humanistic needs and the betterment of mankind with the intent of creating social value and eventual societal level changes. This research examines venture capital firms engaging in social innovation i.e., through the adoption of socially oriented missions, strategies, and values. Our main research question is: What is the relationship between the mission of social venture capital firms, the socialness of portfolio companies they invest in, and firm performance? The VC firms included in the sample have voluntarily selected a blended value based mission for the betterment of society, and are salient examples of social innovation. Our research contributes to the understanding of a relatively new phenomenon of social investing in the capital markets sector by venture capital firms.