From September to December 2021, Global Corporate Venturing conducted its annual State of CVC survey.

Questions were refined to create an aggregate basis for the GCV Institute’s new CVC operational and performance benchmarking platform, which will enable the filtering of this aggregate data by relevant maturity phase, vertical industry, operating model etc. The survey asked 45 questions encompassing the following key topics: Charter and Funding Structure Investment Strategy Performance Team and Compensation Automation In addition to the general survey, GCV provided support for local surveys conducted in Mexico and Brazil in partnership with the Mexican Association of Private Equity and Venture Capital Funds (AMEXCAP) and the Private Equity and the Venture Capital Association in Brazil (ABVCAP).  GCV partner and sponsor Proseeder also generously contributed to the survey. Highlights from the Brazil and Mexico surveys are also summarised in the two addenda to this piece. Respondent pool demographics The 2022 survey tapped GCV’s access to a significant pool of CVCs spread across the across the globe and representing a good cross-section of industries and maturity phases. Special efforts were made to ensure that input from both CVC industry leaders and emerging programmes were included in data set. In the three surveys, a total of 213 individual responses were collected.  We received 157 individual responses in the general survey. The average number of respondents per question was 135 (with a mode of 140), which implies a high response rate per question of about 86%. The response rate per question varied depending on participants’ willingness to disclose information about their unit and investments. Corporate venturing role Over 90% of respondents described themselves as corporate venture investors with the vast majority (74%) operating as dedicated direct investing units, 14% investing directly without a formal CVC unit and 4% investing primarily through LP positions. Corporate parent industry sector The respondent sample included all ten sectors tracked by Global Corporate Venturing with a number of corporations addressing multiple verticals. It is important to bear in mind that the survey gave respondents the opportunity to describe their corporate parent corporate by selecting more than one sector. As a result, some sectors like industrial and IT have been selected by multiple respondents, along with others. Parent headquarters and participant geography Survey respondents were representative of the global nature of corporate venture investing, with roughly equal numbers of responses from US-based and Europe-based corporations (30% and 31% of the total, respectively) as well as significant participation from CVC programmes of APAC-based corporations (27%).   However, many respondent programmes are active in regions outside the parent…

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