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Corporate Venture Capital im Bankensektor: Eine Fallstudie

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  • Hannes Maxin

Abstract

Der Innovationsdruck durch die Digitalisierung des Bankengeschäfts führte dazu, dass die Commerzbank die Main Incubator GmbH gründete. Mithilfe dieser Corporate Venture Capital-Gesellschaft strebt die Bank eine Kooperation mit jungen FinTech-Unternehmen an, um Innovationspotenziale zu realisieren. In der Literatur wird ein solches Vorgehen vornehmlich dem Nicht-Bankenbereich zugesprochen. Demnach stellt die Main Incubator GmbH einen neuartigen Fall dar, der im vorliegenden Beitrag mit einer Fallstudie analysiert wird. Die regulatorischen Bestimmungen für Banken sind dabei als Hauptunterschied zu anderen Branchen anzusehen, was sich in den Auswahlkriterien sowie der Beratung durch die Investoren zeigt. Aus Sicht der Prinzipal-Agent-Theorie werden zudem praktische Implikationen festgehalten. Danach sollen die Großunternehmen für ein besseres Screening bzw. Monitoring neben den Corporate Venture Capital-Gesellschaften Funktionen bei der Auswahl und bei Bedarf im Aufsichtsrat der Portfoliounternehmen übernehmen. / Digitization of society leads to a high pressure to innovate for traditional banks. Therefore, Commerzbank founded its own corporate venture capital firm, the Main Incubator GmbH. This corporate venture capital firm supports its parent company to cooperate with young FinTech firms to realize innovation potential. In the literature, corporate venture capital activities are primarily assigned to the non-banking sector. This makes the Main Incubator GmbH an unusual case, which is analyzed in a case study. The results show, that the main differences between the banking and the non-banking sector are the regulatory requirements, which have a great impact on the selection and support of the FinTech firms. Moreover, the case study enables practical implications regarding to the principal-agent theory: beside the corporate venture capital firms, the parent companies have to engage in the screening process and in certain cases on the board of the new ventures for a better selection and monitoring of the investments.

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  • Hannes Maxin, 2018. "Corporate Venture Capital im Bankensektor: Eine Fallstudie," ZfKE – Zeitschrift für KMU und Entrepreneurship, Duncker & Humblot, Berlin, vol. 66(2), pages 71-89.
    • Handle: RePEc:dah:aeqzfk:v66_y2018_i2_q2_p71-89
    DOI: 10.3790/zfke.66.2.71
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    Cited by:

    1. Patrick Haslanger & Erik E. Lehmann & Nikolaus Seitz, 2023. "The performance effects of corporate venture capital: a meta-analysis," The Journal of Technology Transfer, Springer, vol. 48(6), pages 2132-2160, December.
    2. Bömer, Max & Maxin, Hannes, 2018. "Why Fintechs Cooperate with Banks - Evidence from Germany," Hannover Economic Papers (HEP) dp-637, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.

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    More about this item

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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