Comment from Jeff Allen, vice-president of strategic investments, Mastercard

Financial investing is a piece of cake. Well, not really, but measuring success is straightforward – return on investment (ROI). Strategic investing, which corporate incumbents utilise to invest in business partners, is much more nuanced, balancing the alignment between strategic intent and ROI.

Strategic business units (SBUs) within incumbents, the business sponsors for the deal, want to meet their own specific business objectives, while business partners want to maximise their market value. Upfront, interests may be aligned, which is why…