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Corporate Venture Capital Organizations in Germany

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  • Christiana Weber
  • Barbara Weber

Abstract

This paper analyses the goals, the organizational structures and processes, and the investment criteria that underlie venture strategies in Germany today, using a sample of 20 corporate venture capital organizations (CVCs). The performance of these CVCs is examined and the data are compared with those generated by studies on German independent venture capital organizations (VCs) as well as with European and US CVCs. The study concludes that German CVCs that focus either on financial or on strategic objectives are more successful than those with a mixed approach. Further, CVCs with a strong financial focus seem to be financially--and sometimes also strategically--more successful than CVCs with a strong strategic focus.

Suggested Citation

  • Christiana Weber & Barbara Weber, 2005. "Corporate Venture Capital Organizations in Germany," Venture Capital, Taylor & Francis Journals, vol. 7(1), pages 51-73, January.
    • Handle: RePEc:taf:veecee:v:7:y:2005:i:1:p:51-73
    DOI: 10.1080/1369106042000316350
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    Cited by:

    1. Tobias Gutmann, 2019. "Harmonizing corporate venturing modes: an integrative review and research agenda," Management Review Quarterly, Springer, vol. 69(2), pages 121-157, June.
    2. Weber, Christiana, 2005. "Corporate Venture Capital als Beitrag zum Wissensmanagement: Eine vergleichende Langzeitstudie in Deutschland," Discussion Papers, Research Unit: Innovation and Organization SP III 2005-107, WZB Berlin Social Science Center.
    3. Wang, Lei & Zhou, Fangzhao & An, Yunbi, 2017. "Determinants of control structure choice between entrepreneurs and investors in venture capital-backed startups," Economic Modelling, Elsevier, vol. 63(C), pages 215-225.
    4. Jeon, Euiju & Maula, Markku, 2022. "Progress toward understanding tensions in corporate venture capital: A systematic review," Journal of Business Venturing, Elsevier, vol. 37(4).
    5. Patrick Röhm, 2018. "Exploring the landscape of corporate venture capital: a systematic review of the entrepreneurial and finance literature," Management Review Quarterly, Springer, vol. 68(3), pages 279-319, August.
    6. Balz, Frank P. & Brinkmann, Florian & Kanbach, Dominik K., 2023. "The impact of independent and heterogeneous corporate venture capital on firm efficiency," Journal of Business Venturing Insights, Elsevier, vol. 19(C).
    7. Hill, Susan A. & Birkinshaw, Julian, 2008. "Strategy-organization configurations in corporate venture units: Impact on performance and survival," Journal of Business Venturing, Elsevier, vol. 23(4), pages 423-444, July.
    8. Weber, Christiana & Weber, Barbara, 2011. "Exploring the antecedents of social liabilities in CVC triads--A dynamic social network perspective," Journal of Business Venturing, Elsevier, vol. 26(2), pages 255-272, March.
    9. Patrick Röhm & Andreas Köhn & Andreas Kuckertz & Hermann S. Dehnen, 2018. "A world of difference? The impact of corporate venture capitalists’ investment motivation on startup valuation," Journal of Business Economics, Springer, vol. 88(3), pages 531-557, May.
    10. Luciano Mathias Döll & Micaela Ines Castillo Ulloa & Alexandre Zammar & Guilherme Francisco do Prado & Cassiano Moro Piekarski, 2022. "Corporate Venture Capital and Sustainability," JOItmC, MDPI, vol. 8(3), pages 1-19, August.

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