Key takeaways
209
CVC funds - up from 164 last year
27
Countries across 4 continents and 11 industries
~$7B capital deployed
Of capital deployed per year and 38% of global CVC deals
Notes: 1) Based on global VC investment, September 2023 to October 2022 vs. September 2022 to October 2021.
Source: CVC survey results (based on responses from 209 CVC funds), Pitchbook and SVB analysis.
CVCs are taking their foot off the gas
Venture investment in the current macro climate is characterized by lower valuations and fewer investments and exits across the board. CVC activity is no exception with most respondents reporting a slower investment pace in 2023.
Source: CVC survey results (based on responses from 209 CVC funds) and SVB analysis.
CVCs jump on the latest tech
The top reason cited for the CVC’s existence is to act as a sensor for the parent company. It’s no surprise the technologies making headlines are top sectors CVCs watch.
Managing the corporate parent
Strategic CVCs witnessed the highest increases in time spent managing their corporate parent, pulling their focus away from investing and adding strategic value.
Source: CVC survey results (based on responses from 209 CVC funds) and SVB analysis.
Source: CVC survey results (based on responses from 209 CVC funds) and SVB analysis.
More support equals more investments
On average, funds with stronger support are making more investments and are increasing or maintaining their current level of autonomy.
Notes: 1) CVC Bellwether: Index of 25 CVCs selected due to historical track record, current scale and investment velocity.
Source: CVC survey results (based on responses from 209 CVC funds) and SVB analysis.
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