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Corporate Venturing Grows, but Don't Call It a Dot-Com Repeat

December 01, 2014

Mark Stevens, Fenwick & West corporate partner and co-chair of industry groups for gaming and digital media and for the Internet, was quoted in a Wall Street Journal article that analyzed the increase in corporate venturing and compared the current increase to the peak during the dot-com boom.

While highlighting that corporate venturing has increased for the second year in a row, and generally has ticked upward since 2009, the WSJ reported that the number of financings (427) by corporate investors in January through September 2014 remains much lower than the number of financings (1,927) by corporate investors in 2000.

With regard to long-term investments by corporate investors, Stevens, who managed corporate venturing at Excite@Home during the dot-com boom, noted that “It’s hard for American corporate investors to have a ten-year commitment to a budget line-item. It’s not the way corporations run.”

The full article is available through the Wall Street Journal Venture Capital Dispatch blog.