How prior corporate venture capital investments shape technological alliances: A real options approach

Vareska van de Vrande, W Vanhaverbeke

Research output: Contribution to journalArticleAcademicpeer-review

31 Citations (Scopus)

Abstract

This article investigates how prior corporate venture capital (CVC) relationships between two firms affect the likelihood of their subsequently entering a strategic alliance. Creating a portfolio of CVC investments provides the investing firm with a set of opportunities that can be pursued once the technological and market uncertainty have been reduced. If the technology appears to be promising, a follow-on investment, such as a strategic alliance, is made to ensure the transfer of the technological knowledge. This article shows that prior CVC investments can play a role in the formation of strategic alliances and investigates the conditions under which they are most likely to do so.
Original languageEnglish
Pages (from-to)1019-1043
Number of pages25
JournalEntrepreneurship Theory and Practice
Volume37
Issue number5
DOIs
Publication statusPublished - 5 Jun 2012

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