The Most Active Corporate VC Firms Globally

03-01 10:00

186 newly active CVC arms invested throughout 2017. In total, 546 CVCs placed bets, with Google Ventures taking the top spot followed by Intel Capital.

The corporate venture capital ecosystem is expanding far beyond the likes of Google Ventures and Intel Capital.

According to our 2017 CB Insights Corporate Venture Capital Report , the number of new corporate venture capital firms making first-time investments reached record levels in 2017. 186 new corporate VC units globally made their first investment in 2017, including stock exchange Nasdaq Ventures, and life insurance provider Northwestern Mutual, among others.

Compared to 2016, the number of new corporate VC units making their first investment increased 66%, up from 112.

Below, we highlighted the number of CVCs making investments on a quarterly basis as well as the most active CVCs globally in 2017. We also include our most active CVCs list from prior years.

Quarterly active CVC trends

In total, 1,067 corporate VCs actively invested in 2017. On a quarterly basis, Q2’17 saw the highest number of active corporate VCs ever, at 274. This number represents 35% year-over-year growth, up from 203 active corporate investors in Q2’16.

Corporate VCs continue to invest across a range of industries including fintech, digital health, AI, blockchain, food and beverage, and much more.


Google Ventures took the spot this year, followed closely by Intel. New entrants to the list included Fosun RZ Capital, a Chinese investment conglomerate, as well as K Cube Ventures, the early-stage venture arm of Korea-based Daum Kakao.

The Most Active CVCs in 2017
Rank Investor
1 Google Ventures
2 Intel Capital
3 Salesforce Ventures
3 Qualcomm Ventures
5 GE Ventures
6 Legend Capital
7 Microsoft Ventures
7 K Cube Ventures
7 Fosun RZ Capital
10 Samsung Ventures

For a broader look at the top CVC investors, here are the top 44:

The 44 Most Active CVCs in 2017
1-23 24-45
Google Ventures Robert Bosch Venture Capital
Intel Capital BMW i Ventures
Salesforce Ventures Unilever Ventures
Qualcomm Ventures NVIDIA GPU Ventures
GE Ventures Merck Ventures
Legend Capital Novartis Venture Funds
Microsoft Ventures Rakuten Ventures
K Cube Ventures YJ Capital
Fosun RZ Capital Sony Innovation Fund
Samsung Ventures MAIF Avenir
Dell Technologies Capital Airbus Ventures
SBI Investment InMotion Ventures
Comcast Ventures Bertelsmann Digital Media Investments
SMBC Venture Capital Bertelsmann Asia Investments
Johnson & Johnson Innovation Nissay Capital
Swisscom Ventures SR One
Cisco Investments Takeda Ventures
Alexandria Venture Investments Samsung Catalyst Fund
Slack Fund AXA Strategic Ventures
Bloomberg Beta GREE Ventures
Mitsubishi UFJ Capital Daiwa Corporate Investment
CreditEase Fintech Investment Fund CASH Capital Investment Management
Verizon Ventures

recap: corporate venture in 2016

Intel Capital and Google Ventures tied for the most active corporate venture capital investors in 2016. Salesforce Ventures and Comcast Ventures rounded out the third and fourth spots, while Qualcomm Ventures, Cisco Investments, GE Ventures, and Bloomberg Beta filled out the top 8.

The Most Active CVCs In 2016
Rank Investor
1 Intel Capital
1 Google Ventures
3 Salesforce Ventures
4 Comcast Ventures
5 Qualcomm Ventures
6 Cisco Investments
6 GE Ventures
8 Bloomberg Beta

The top 62 most active CVC investors in 2016 includes a number of names across a variety of industries. Google, Intel, and Salesforce are among those representing the tech industry while firms like Pfizer, Novartis, and SR One are from the healthcare field.

62 Most Active CVCs Of 2016
1-24 25-48 49-62
Intel Capital Legend Capital Saudi Aramco Energy Ventures
Google Ventures Roche Venture Fund Novo Ventures
Salesforce Ventures Nokia Growth Partners Hewlett-Packard Ventures
Comcast Ventures SMBC Venture Capital Corigin Ventures
Qualcomm Ventures Citi Ventures Ascension Ventures
Cisco Investments Novartis Venture Funds American Family Ventures
GE Ventures MAIF Avenir SingTel Innov8
Bloomberg Beta WuXi Venture Fund Rakuten Ventures
Samsung Ventures Lilly Asia Ventures Time Warner Investments
Microsoft Ventures NTT DoCoMo Ventures Recruit Strategic Partners
CyberAgent Ventures American Express Ventures Liberty Global Ventures
Johnson & Johnson Innovation Bertelsmann Digital Media Investments MassMutual Ventures
Pfizer Venture Investments Robert Bosch Venture Capital Merck Ventures
SBI Investment Fosun Kinzon Capital Mitsubishi UFJ Capital
Slack Fund Orange Digital Ventures
Siemens Venture Capital Boehringer Ingelheim Venture Fund
AXA Strategic Ventures capitalG
Ping An Ventures Santander InnoVentures
Swisscom Ventures BlueCross BlueShield Venture Partners
In-Q-Tel Hearst Ventures
Telstra Ventures Alexa Fund
Brand Capital YJ Capital
Verizon Ventures AbbVie Biotech Ventures
SR One Nissay Capital

In 2015, Intel Capital was the most active CVC investor with investments in companies like iZettle and Docusign, among others. Google Ventures and Qualcomm Ventures rounded out the 2nd and 3rd spots.

Other CVCs represented in the top 10 in 2015 include Comcast Ventures as well as Bloomberg Beta and Cisco Investments.

The Most Active CVCs in 2015
Rank Investor
1 Intel Capital
2 Google Ventures
3 Qualcomm Ventures
4 Salesforce Ventures
5 GE Ventures
6 Samsung Ventures
7 Comcast Ventures
8 Bloomberg Beta
9 Cisco Investments
10 Novartis Venture Funds
10 SR One

CVCs like Amazon’s Alexa Fund as well as Rakuten Ventures are among the firms represented below. Additionally, Asia-based CVCs like Ping An Ventures and Legend Capital were among the most active CVC investors in 2015.

48 Most Active CVCs Of 2015
1-25 26-48
Intel Capital Pfizer Venture Investments
Google Ventures Alexa Fund
Qualcomm Ventures DG Incubation
Salesforce Ventures Siemens Venture Capital
GE Ventures GREE Ventures
Samsung Ventures Ping An Ventures
Comcast Ventures Citi Ventures
Bloomberg Beta SMBC Venture Capital
Cisco Investments YJ Capital
Novartis Venture Funds Mitsui & Co. Global Investment
SR One Merck Global Health Innovation Fund
Legend Capital American Express Ventures
Bertelsmann Digital Media Investments Eircom Digital Boost Initiative
Recruit Strategic Partners Lilly Ventures
Nokia Growth Partners Robert Bosch Venture Capital
Renren Lianhe Holdings TIM Ventures
CyberAgent Ventures Roche Venture Fund
Johnson & Johnson Innovation Camber Creek
Novo Ventures Dentsu Digital Holdings
AXA Strategic Ventures Fosun Kinzon Capital
Google Capital Tengelmann Ventures
Hearst Ventures BioMed Ventures
In-Q-Tel Microsoft Ventures
Verizon Ventures Rakuten Ventures

Finally, we highlighted the most active CVCs in 2014 with a focus on US-based investments.

In 2014, Google Ventures was the most active CVC investor in US-based companies.

Intel Capital and Salesforce Ventures rounded out the 2nd and 3rd spots while healthcare funds like Novartis Venture Funds and SR One were among those in the top 10.

The Most Active Corporate VCs of 2014
Rank CVC Investor
1 Google Ventures
2 Intel Capital
3 Salesforce Ventures
4 Qualcomm Ventures
5 Comcast Ventures
6 Novartis Venture Funds
7 Samsung Ventures
8 Cisco Investments
9 Siemens Venture Capital
9 SR One
11 Bloomberg Beta
12 Fidelity Biosciences
12 Second Century Ventures
12 GE Ventures
12 Mitsui & Co. Global Investment
12 Microsoft Ventures
12 In-Q-Tel
18 Verizon Ventures
18 Johnson & Johnson Development Corp.
20 Bertelsmann Digital Media Investments

Below are the top 100+ most active CVC investors in US-based companies in 2014.

A range of industries are represented in the 104 CVC investors below including financial services CVCs like Citi Ventures as well as automobile manufacturer CVCs like GM Ventures, among many others.

104 Active Corporate Venture Capital Investors of 2014
1-26 27-52 53-78 79-104
Google Ventures Pfizer Venture Investments Fletcher Spaght Ventures Biogen Idec New Ventures
Intel Capital Citi Ventures Wells Fargo Startup Accelerator Western Digital Capital
Salesforce Ventures Dell Ventures Chevron Technology Ventures UPS Strategic Enterprise Fund
Qualcomm Ventures Hearst Ventures Steamboat Ventures Morgan Stanley Expansion Capital
Comcast Ventures Novo Ventures Ascension Ventures AbbVie Biotech Ventures
Novartis Venture Funds UMC Capital BP Ventures Zaffre Investments
Samsung Ventures Shea Ventures Motorola Solutions Venture Capital Takeda Ventures
Cisco Investments American Express Ventures Sanofi-Genzyme Ventures MedImmune Ventures
Siemens Venture Capital AOL Ventures MS Ventures ABB Technology Ventures
SR One Telstra Ventures SingTel Innov8 Castrol innoVentures
Bloomberg Beta Recruit Strategic Partners BASF Venture Capital GM Ventures
Fidelity Biosciences Total Energy Ventures International TELUS Ventures Boulder Brands Investment Group
Second Century Ventures Reed Elsevier Ventures Baxter Ventures Merck Research Ventures Fund
GE Ventures BlueCross BlueShield Venture Partners American Family Ventures First Data Ventures
Mitsui & Co. Global Investment Roche Venture Fund BMW i Ventures Karlani Capital
Microsoft Ventures Liberty Global Ventures Brace Pharma Nissay Capital
In-Q-Tel Amgen Ventures Evonik Ventures CyberAgent Ventures
Verizon Ventures Presidio Ventures WPP Digital Astellas Venture Management
Johnson & Johnson NTT DoCoMo Ventures Swisscom Ventures Rakuten Ventures
Bertelsmann Digital Media Investments kbs+ Ventures T-Venture GE Healthcare Financial Services
Merck Global Health Innovation Fund BBVA Ventures Kaplan Ventures Aster Capital
Kaiser Permanente Ventures KDDI Open Innovation Fund Liquidity Ventures DSM Venturing
Constellation Technology Ventures WuXi Corporate Venture Fund R/GA Ventures Xandex Investments
Time Warner Investments Legend Capital Renren Lianhe Holdings SABIC Ventures
Lilly Ventures DG Incubation Telefonica Ventures dunnhumby Ventures
CAA Ventures Transamerica Ventures Fund Robert Bosch Venture Capital Kiwi Venture Partners

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