Corporate VC as a strategic tool - with ING Ventures

<p><a href="https://www.linkedin.com/in/fredhofmann/">Frederic Hofmann</a>, Managing Director at <a href="https://www.ing.com/Home.htm">ING </a>Ventures, based in London, UK, explains:</p><ul> <li>ING's approach to working with start-ups - a range of teams and strategies, from partnering to investing and ING's commitment to digital transformation</li> <li>ING Ventures' mandate - do they focus on the strategic alignment with ING or financial gain?</li> <li>Deal sourcing - how does ING find new investment opportunities</li> <li>What are the minimum criteria to invest, if any?</li> <li>Success stories: <a href="https://eigentech.com/">Eigen Technologies</a>, <a href="https://flowcast.ai/">Flowcast </a>- an early warning system for ING retail to identify when retail clients are likely to be distressed, <a href="https://www.cobase.com/">Cobase</a>, a company built and spun out from <a href="https://www.ing.com/About-us/ING-Labs.htm">ING Labs</a> (now with Nordea and Credit Agricole as investors)</li> <li>Lessons learned: <ul> <li>Lean governance for a corporate VC is key to success in a fast-changing environment</li> <li>Working with a large bank takes time, but it can be massively impactful. </li> <li>There is no silver bullet when it comes to innovation in a large corporate, so many avenues need to be explored at the same time</li> <li>Start-ups should continuously invest time in building a network of potential investors and, more</li> </ul> </li> <li>The most efficient way to pitch your ideas to the ING Ventures team or ING in general</li> </ul><p><br></p>