Steps on the road to being an adept venturer. This is the second article if a three-part series following a corporate venturer's evolution from in-house balance sheet investor of pet projects into a full-blown venture capital house with third-party investors.

This series describes some of the legal, tax and financial structures employed in this evolutionary process. Not all corporate venturers will walk this path, but many will consider and implement aspects of this journey.

The first article (see the April issue of Global Corporate Venturing) considered a corporate entity’s first steps into corporate venturing, the various advantages corporate venturing can offer and group structural improvements, through on and off-balance-sheet accounting, and on and off shore entities.

This second article will…