Corporate Venturing UK (CVUK), a body seeking to provide larger companies with venturing opportunities in the UK, is to launch later this month.
The organisation is being set up by the Department for Trade and Industry in association with the National Business Angels Association, which counts major investors such as Barclays, HSBC, Lloyds TSB, NatWest and Royal Bank of Scotland among its backers.
CVUK is aiming to be the lynchpin for both sides of the venturing process. It will provide a screening and introductory service for larger companies considering corporate venturing opportunities, as well as providing new and developing businesses with access to larger companies.
Nick Cox has been appointed director for the organization, which will be launched officially later this month. Cox has been working as a business consultant since 1994, advising private and public sector organisations on early stage finance, innovation and technology management.
Corporate venturing has seen considerable shifts in its popularity during the past four years. Global figures from Venture Economics show that investments in start-ups rose from $468m in the fourth quarter of 1998 to $6.2bn in early 2000, falling back to $848m in the third quarter of 2001.