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Corporate venture capital organizations in Germany: a comparison

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  • Weber, Christiana
  • Weber, Barbara

Abstract

This paper analyzes 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 U.S. CVCs. The study concludes that German CVCs focusing 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. Finally, based on these findings, theses concerning the CVC's organizational learning are developed.

Suggested Citation

  • Weber, Christiana & Weber, Barbara, 2003. "Corporate venture capital organizations in Germany: a comparison," Discussion Papers, Research Unit: Innovation and Organization SP III 2003-113, WZB Berlin Social Science Center.
    • Handle: RePEc:zbw:wzbior:spiii2003113
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    References listed on IDEAS

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    1. Paul Gompers & Josh Lerner, 2000. "The Determinants of Corporate Venture Capital Success: Organizational Structure, Incentives, and Complementarities," NBER Chapters, in: Concentrated Corporate Ownership, pages 17-54, National Bureau of Economic Research, Inc.
    2. Alfred D. Chandler, 1969. "Strategy and Structure: Chapters in the History of the American Industrial Enterprise," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530090, April.
    3. Weber, Christiana & Weber, Barbara, 2002. "Learning in and of corporate venture capital organizations in Germany: industry structure, companies' strategies, organizational learning capabilities," Discussion Papers, Research Unit: Organisation and Technology FS II 02-108, WZB Berlin Social Science Center.
    4. Thornhill, Stewart & Amit, Raphael, 2001. "A dynamic perspective of internal fit in corporate venturing," Journal of Business Venturing, Elsevier, vol. 16(1), pages 25-50, January.
    5. Siegel, Robin & Siegel, Eric & MacMillan, Ian C., 1988. "Corporate venture capitalists: Autonomy, obstacles, and performance," Journal of Business Venturing, Elsevier, vol. 3(3), pages 233-247.
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    Cited by:

    1. Berthoin Antal, Ariane & Friedman, Victor J., 2004. "Overcoming dangerous learning: the role of critical reflection in cross-cultural interactions," Discussion Papers, Research Unit: Innovation and Organization SP III 2004-106, WZB Berlin Social Science Center.
    2. Haslanger, Patrick, 2019. "The landscape of corporate venturing in Germany: Insights on corporate venture capitals and corporate accelerators," UO Working Papers 01-19, University of Augsburg, Chair of Management and Organization.
    3. Straßheim, Holger, 2004. "Power in intercommunal knowledge networks: on the endogenous dynamics of network governance and knowledge creation," Discussion Papers, Research Unit: Innovation and Organization SP III 2004-104, WZB Berlin Social Science Center.

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