Corporate Venture Capital: Past Evidence and Future Directions

Gary Dushnitsky

in The Oxford Handbook of Entrepreneurship

Published in print May 2008 | ISBN: 9780199546992
Published online September 2009 | | DOI:

Series: Oxford Handbooks in Business and Management C

Corporate Venture Capital: Past Evidence and Future Directions


This article reviews the academic literature on corporate venture capital, that is, minority equity investments by established corporations in privately-held entrepreneurial ventures. It starts with a detailed definition of the phenomenon. An historical background of Corporate Venture Capital (CVC) is presented, followed by an extensive review of CVC investment patterns. The article then presents scholarly findings beginning with firms' objectives, through the governance of their CVC programmes and the relationships with the portfolio companies and ending with a review of corporate, venture and CVC programme performance. The article concludes with directions for future research.

Keywords: corporate venture capital; equity investments; entrepreneurial ventures; portfolio companies; investment patterns; CVC programme performance

Article.  16946 words. 

Subjects: Business and Management ; Entrepreneurship

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