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Corporate venture capital portfolio management: a case study at DSM Venturing

Lanhenke, Tobias (2008) Corporate venture capital portfolio management: a case study at DSM Venturing.

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Abstract:In this case study Improved Portfolio Management Practices are developed for Corporate Venture Capital Investments at DSM Venturing. The results are meant to support DSM Venturing’s increasing investment activities. Practices in the fields of Portfolio Construction, Investment Monitoring and Exit Management are stressed. Greatest emphasis is set on Investment Monitoring in terms of measuring strategic value and financial performance of the investments. Corporate Venture Capital as a specific group of Venture Capital in the first instance serves strategic objectives of the corporation by investing in start-up companies. Therefore a structured way of portfolio management along the specific goals of the investor is shown here. This way of portfolio management starts with a consideration of strategic alignment and objective setting between the corporation and the Corporate Venture Capital Unit. Following these objectives an appropriate portfolio construction is shown and discussed for the case of DSM Venturing. Most relevant practical application is the improvement of an investment monitoring in terms of strategic and financial measures and indicators accordingly. The solution developed in close interaction with DSM Venturing is characterized by a standardized and internally consistent investment assessment including strategic and financial performance indicators with specific relevance for DSM Venturing. The solution agreed on is meant to capture the overall experience and expectations of the investment managers with their investments in a guided but individual assessment. The strategic, but also the financial assessment, is shaped by the idea of including the overall experience and expectations of each investment manager
Item Type:Essay (Master)
DSM Venturing
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
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