How do Corporate Venture Capitalists do Deals? An Exploration of Corporate Investment Practices
Journal
Strategic Entrepreneurship Journal
ISSN
1932-4391
Type
journal article
Date Issued
2014-12
Author(s)
Abstract (De)
How do corporate venture capitalists (CVCs) do deals? Conversations with CVCs suggest that the putative view of venture capital investing is incomplete. We draw on 13 cases of CVC programs to document eight ‘corporate investment practices’ that are unique to CVCs. These practices reflect pressure on the CVC units for strategic fit and engagement with the corporation and also an opportunity to utilize parental resources. We then show that CVCs vary their emphasis on corporate investment practices, diverging into two distinct investment logics, ‘integrated’ versus ‘arm's‐length.’ Focus of isomorphism on internal versus external stakeholders explains the emergence of the two logics. Copyright © 2014 Strategic Management Society.
Language
English
Refereed
Yes
Publisher
Wiley
Volume
8
Number
4
Start page
321
End page
348
Official URL
Subject(s)
Eprints ID
255330