Introduction

Abstract

Corporate Venture Capital (CVC) is the purchase of mostly minority equity positions in independently managed start-ups or growth companies by an established corporation.¹ CVC is an important topic for academic research for three reasons: first, CVC is heavily used in practice. Second, although CVC may potentially lead to significant benefits, success has been limited in the past. Third, the academic literature has not discussed certain aspects of CVC to a sufficient extent. These points will be discussed in more detail in this section.