Abstract
The environment of venture capital in Taiwan is a lot different from that of US. More than 50% of the capital comes from enterprises. This research focuses on this special phenomenon, and tries to find out the underlying purposes of corporate venture capital. It also focuses on how enterprises in Taiwan apply post-investment management. Findings are as follows: 1.Strategies of corporate VC can be categorized into 3 properties — “Controlling”, “Leveraging”, and “Investing”. Different property will lead to different level of investing promises, different resource flows, different conflicts and different dynamics of resource complementation. 2.Enterprises apply post-investment management mostly by attending the board meetings of the ventures, and by “Milestone” reviewing mechanism. 3.Internal market exists, while the inner projects compete with the outer cooperating projects for the limited corporate resources. Even strategic investment lacks lasting promises, there’ll be no differences between outer cooperating projects and inner projects when resources being allocated.