Corporate Venture Capital — Ein Instrument für eine erfolgreiche Partnerschaft von Großorganisationen und Start-up-Unternehmen

2001 ◽  
pp. 91-102 ◽  
Author(s):  
Marianne Tümpen
2019 ◽  
Vol 5 (2) ◽  
pp. 114-128
Author(s):  
О. A. Yeremchenko

The article analyzes the global trends of corporate venture financing (CFE) as a whole and for individual sectors of the economy. It is shown that the industries in which KFW is most actively and dynamically used are the Internet, mobile communications and healthcare. The maximum attention of corporate venture funds is attracted by start-ups in the early stages of raising capital, more than half of all venture capital deals are made at the Seed / Angel (seed stage) and Early Stage stages (the second stage of attracting start-up capital). The most common exit from venture capital deals during 2014–2018. For most industries, the redemption share of the FAC is a management startup (Management Buyout). It was concluded that Russia is poorly included in the use of corporate venture capital as a tool for building technological capacity: the country’s share in the number of corporate venture capital transactions in 2018 is 1.9% of the global total, and the total investment of Russian enterprises estimated at only 0.45% of the global total. It was suggested that it would be expedient to increase the activity of Russian corporations in the field of creating and using the capabilities of the FSC.


2018 ◽  
Vol 8 (3) ◽  
Author(s):  
Hyunsung D Kang

AbstractThe co-existence of angel, independent venture capital (IVC), and corporate venture capital (CVC) in the entrepreneurial finance market raises a natural question of why a start-up finances its projects from one source over another. This question becomes more complicated to address because a start-up grows or declines dynamically. Using a life cycle theory of entrepreneurial finance, which suggests that a start-up uses several financing sources as it reaches certain thresholds in its life cycle accordingly, I explore this selection issue with my dataset on 113 biopharmaceutical start-ups. I find that these start-ups tend to finance their projects mostly from solely IVCs or CVCs rather than angels and syndicated investors combining IVCs and CVCs when they have more preclinical and phase I products in their R&D pipelines; and from CVCs or syndicated investors rather than angels and IVCs when they do more phase II and phase III products.


Sign in / Sign up

Export Citation Format

Share Document