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The CVC Mandate Brief
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An eight-page EUVC Corporate brief on the decisions shaping CVC mandates, investment structures and long-term survival.
Fund or balance sheet? Start with the right question.
Should a corporate venture unit pursue strategic value or financial returns? And how should that decision shape its structure, incentives and relationship with the parent company?
The CVC Mandate Brief, authored by Jeppe Høier, Co-founder of EUVC Corporate, draws on around 15 one-to-one conversations with corporate venture teams across seven industries, conducted between July and October 2026.
The publication brings together recurring challenges, practical observations and lessons from teams operating under different investment models. All examples are anonymised, reflecting qualitative practitioner insights rather than a representative survey.
What's inside
Seven essential questions to help CVC teams clarify their purpose and evaluate their operating model.
Structure and independence: When a balance-sheet approach makes sense, what a GP/LP structure changes and why outside capital matters.
Governance and incentives: The trade-offs around capital, carry, management company ownership and investment decisions.
People and longevity: How to align teams, protect strategic value and maintain support through corporate leadership changes.
A six-point checklist of practical decisions to address within your CVC unit.
Who it's for
CVC leaders, corporate investment teams and executives overseeing venture activities, particularly those considering a new fund structure, reviewing their existing model or looking to strengthen their unit's long-term position within the parent company.
