%0 Journal Article
%J Journal of Private Equity
%D 2000
%T Strategic Value of Corporate Venture Capital Programs
%A Gobeli,Dave
%A Mishra,C. S.
%K Strategy & Entrepreneurship
%X Corporate venturing activities, driven largely by the need to be competitive in the Internet Age, have out-paced the accompanying theory on how such programs can create value. This article presents a framework for understanding value creation through a firm's venture capital programs. The framework includes two stages of value creation: a firm creates value through building technology equity and brand equity, and then corporate venturing programs can multiply this value. A mediating variable, free cash flow level, is included to allow for effective use of venture funds.
%B Journal of Private Equity
%8 2000
%G eng
%2 a
%4 646090752
%$ 646090752