City Research Online

What do Corporate Venture Capitalists do? A process analysis of their investment activities

Souitaris, V., Zerbinati, S. and Liu, G. What do Corporate Venture Capitalists do? A process analysis of their investment activities. Strategic Entrepreneurship Journal,

Abstract

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.

Publication Type: Article
Subjects: H Social Sciences > HF Commerce
Departments: Cass Business School > Management
URI: http://openaccess.city.ac.uk/id/eprint/4144
[img] PDF - Accepted Version
This document is not freely accessible due to copyright restrictions.

Export

Downloads

Downloads per month over past year

View more statistics

Actions (login required)

Admin Login Admin Login