Foreign Banks Sell Record Indian Sovereign Debt as Tensions Rise
They sold a net 106.3 billion rupees ($1.2 billion) of the debt, a high according to data from the Clearing Corp. of India Ltd. going back to 2006.
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India's EdTech Sector Rebounds as VC Activity Regains Momentum
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Forbes
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From Passive LP To Strategic Partner: How Corporations Can Leverage The Venture-Capital-As-A-Service Model
Anis Uzzaman (アニス・ウッザマン ) is the General Partner and CEO at Pegasus Tech Ventures | Chairman of Startup World Cup For years, the default way for corporations to gain exposure to the startup ecosystem was through passive limited partner (LP) positions in traditional venture capital funds. While this approach provides an opportunity to invest in startups, it offers little control, limited visibility and almost no direct strategic engagement. Today, as innovation becomes a strategic imperative, corporations are demanding more than financial returns. They want access to cutting-edge technologies, new customers and unique business models—all of which disruptive startups can provide. Perhaps more than anything, corporations want a strong voice in shaping where and how their capital is deployed, without any operational headaches. There's little doubt that innovation is critical for corporate success, yet it is hard to achieve. The National Bureau of Economic Research reports: 'Startups have more incentive than incumbent firms to engage in potentially disruptive [research and development] Why Venture Capital As A Service Is Relevant This is where venture capital as a service (VCaaS) enters the picture. The unique design of the VCaaS model can help corporations move from passive investors to becoming active, strategic participants in the venture capital (VC) ecosystem—without the cost, complexity or time of launching their own in-house corporate venture capital organizations. These factors make VCaaS especially relevant in today's environment. The Benefits Of VCaaS To Corporations In my experience as a corporate executive, founder and investor, I've seen corporations use VCaaS to create investment opportunities based on their business priorities. For example, a corporation might value artificial intelligence, sustainability, healthcare, education, healthcare technology or robotics. VCaaS allows them to tailor their investments based on such priorities. VCaaS also offers corporations the following opportunities: With VCaaS, corporations can receive curated deal flow tailored to their strategic interests. This helps them align their investments with company priorities and move the corporation's strategy forward. They have the ability to invest only in those startups that match their business interests. Companies can participate in due diligence and make investment decisions while relying on seasoned VC professionals for execution. Corporations can receive innovative startup investment opportunities in sync with a company's strategic and financial interests. Both the VC and the corporation will conduct due diligence before corporate executives make final investment decisions, and corporate executives get to make final decisions. Their VC partner will ensure the transaction is executed smoothly. Corporations can engage directly with portfolio companies for partnerships, pilots and technology collaboration. Because invested startups are selected carefully, they are predetermined to be a good fit with the corporation's priorities. This strategic alignment helps the company move its own interests forward through startup partnerships. With VCaaS, organizations can avoid building an internal investment infrastructure while still reaping the innovation benefits of startup engagement. Rather than trying to form a VC organization and hire investment professionals—which is expensive and challenging—VCaaS allows corporations to rely on their VC partner to build this infrastructure. I have seen several corporate VC organizations modifying or ceasing their activities in recent years. This is likely due to a lack of connection between a corporation's strategy and that of its investment arm, not being able to hire the right talent, the challenge of finding innovative startups and inherent VC risks. The VCaaS model is especially powerful because it helps R&D leaders tap into emerging technologies. Corporate strategy teams can explore disruptive markets, which can be difficult without startup engagement and investment. Merger and acquisition (M&A) opportunities often emerge from startup investing, enabling corporations to build a long-term pipeline of M&A opportunities. VC firms, including my own, pioneered the VCaaS approach with corporate partners from around the globe. With this model, these corporations are positioned to benefit from investing in startups, yet they do not have the trouble and expense of setting up an investment organization. Finally, VCaaS has the potential to increase profits because corporations using this model often gain speed, insight and optionality. They can engage directly with startups when there's a strategic fit and step back when the situation is purely financial. By partnering with an experienced VC, corporations are better positioned to secure access to strong deal flow and ongoing learning opportunities. Considerations For The VCaaS Model As you might expect, the venture-capital-as-a-service model—like all VC models—has its pros and cons to consider. It's become more popular in recent years because it can be an efficient way for corporations to invest in the best startups around the globe. But one concern that might arise is that VCaaS involves relying significantly on an outside resource, so the corporation itself might not develop those capabilities internally. As a safeguard, I recommend that companies select a VC firm that has a good trade-off of support and internal development. It is important that incentives are arranged so that VCaaS providers do not focus on financial returns only, while ignoring the corporation's long-term goals of innovation. The key here is to obtain just the right balance of priorities. Another challenge is what corporations face in terms of having a high level of control over investments that are strategic or those who want very confidential startup collaborations. VCaaS is an external function, so even though it can work well, corporations should consider whether it will develop an internal innovation culture. Succeeding means that corporations should conduct thorough due diligence: taking a look at the VCaaS firm's transparency, flexibility, strategic alignment and its track record over time. In developing a corporate-VCaaS collaboration, it is crucial to consider governance structures, exit strategies and easy-to-understand key performance metrics. Overall, corporations that want to become more innovative should consider if VCaaS enhances their broader innovation strategy and if the model is likely to be successful. Empowering Corporations To Grow And Succeed In today's competitive business environment—an era where being reactive is no longer an option—VCaaS can empower corporations to act decisively, bridging the gap between financial capital and startup collaboration. I anticipate this trend will continue to let corporations achieve their financial and innovative goals while providing startups with the critical capital they need to scale. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
