The role of venture capital in corporate development
介绍了风险投资业务及其历史，分析了企业直接进行风险投资的困难，并指出投资外部风险投资合伙公司可作为替代或补充方案。
Abstract Many corporations have now discovered the value of a venture capital programme as an aid to the corporate development function. The article describes the venture capital business, reviews its history, and indicates the reasons for the resurgence of interest in corporate venturing. The problems of direct venture capital investment by corporations are enumerated and the trend towards investment in outside venture capital partnerships is explained. The conclusion drawn is that, whereas venture capital is a useful tool for corporate development, it is difficult to do internally and an outside partnership investment can serve as an alternative first step or as a supplement.