As a venture investor who has been on both sides of the fence, I know how critical it is for corporate venture capital firms (CVCs) and private venture capital firms (VCs) to play in the same sandbox. In fact, our collective mission is now more crucial than ever. If we are to succeed at driving the growth of innovation, building competitive advantage, and establishing market leadership, CVCs and VCs must work together. The question is: how?
Corporations have proven themselves to be valuable syndicate partners to the private venture community in recent years. However, many CVC groups are realizing that it can also be strategic to be indirect investors. CVC’s primary objective is to access the innovation ecosystem for product development, expansion and acquiring talent. Many of them would prefer to access the community through a strategic partnership with VC firms rather than building an investment organization themselves. Likewise, as venture investors continue to fundraise, the opportunity to have CVCs serving as Limited Partners (LPs) in their funds could be mutually beneficial.
In light of these growing trends, the National Venture Capital Association (NVCA) and Global Corporate Venturing (GCV) have formed an unprecedented partnership to showcase new investment models from both CVCs and VCs.
Our event, SHIFT: Accelerating Corporate & Venture Partnerships, will take place in New York City on October 28, 2016. The program for the event has an acute focus on the changing landscape of the venture capital asset class, and SHIFT’s venue allows for New York to shine as a dynamic, unique innovation ecosystem.
As the Chair of SHIFT and a member of the Board of Directors of NVCA, I am proud to support SHIFT to advance partnerships between corporate venturing groups and venture capital investors. In my role as Managing Partner of the Westly Group and my 16+ year career as Managing Director at Intel Capital, I know how critical partnerships between corporate venture groups and venture capitalists are to the future of innovation.
Therefore, it is my pleasure to invite VCs and CVCs to join the innovation leaders speaking at SHIFT. Some of the leaders that guests will be able to engage with and learn from include: Josh Lerner, Jacob H. Schiff Professor of Investment Banking at Harvard Business School; Sue Siegel, CEO of GE Ventures; George Ugras, Managing Director of IBM Venture Capital; Warren Lee, General Partner, Canaan Partners; Susan Lyne, President & Founder, BBG Ventures; Claudia Fan Munce, Board Advisor of NEA and Managing Director Emeritus of IBM Venture Capital; Jessica Peltz, Partner, KBS+ Ventures; Mike Brown, General Partner, Bowery Capital; Karin Klein, Founding Partner of Bloomberg Beta; Charlie O’Donnell, founder of Brooklyn Bridge Ventures; John Frankel, Co-Founder and Managing Partner of ff Venture Capital; Steve Barsh, Chief Technology Officer of DreamIt; Sam Landman, Managing Director of Comcast Ventures; and Skyler Fernandez of Simon Venture Group.
As Chair of SHIFT, I hope that many from the corporate venture and venture capital communities will take the time to visit New York in October and attend this peer-to-peer meeting to help venture capital teams stay competitive and continue advancing innovation.