Public market challenges are leading corporates to reconsider their strategies, with some spinning off their venturing divisions.

Larry Fink, head of the world’s largest asset manager, BlackRock, told investors in his annual letter that globalisation was over. Business and capital have retreated from Russia in the face of its invasion of Ukraine. This could be bad news for inflation, the economy and by association the stock market.

The initial public offering (IPO) and mergers and acquisitions (M&A) markets have already slowed dramatically in the first quarter and looks set to remain subdued in the second. According to…