Filling a critical gap that has left founders unprepared for the nuances of corporate venture capital (CVC) engagement, this book provides a definitive, practitioner-focused field guide for navigating this complex world and avoiding pitfalls caused by misaligned incentives, hidden terms, or corporate politics.
With CVCs now participating in over 20% of all venture deals, founders urgently need a playbook that addresses the unique strategic motivations, management structures, and deal terms of these powerful and increasingly common investors. This book is the first written specifically for the founder on how to negotiate with CVCs, focusing particularly on side-letter terms and their long-term and often unforeseen impacts. Written by a practicing CVC investor with deep experience across institutional and corporate VC, it also offers a rare, holistic view of the entire venture ecosystem, enabling readers to understand how a CVC's dual strategic and financial goals predict their behavior, incentives, and potential conflicts of interest.
Through detailed checklists and case studies, this book covers every step of the startup-CVC engagement, from pre-meeting research to post-closing strategy. This book is the definitive resource for startup founders and their executive teams who are actively fundraising or preparing to raise from CVCs, institutional VCs working with CVCs, and for students in MBA, law, and undergraduate business programs interested in a career in startups or CVCs.