Listen "Corporate VC as a strategic tool - with ING Ventures"
Episode Synopsis
Frederic Hofmann, Managing Director at ING Ventures, based in London, UK, explains:ING's approach to working with start-ups - a range of teams and strategies, from partnering to investing and ING's commitment to digital transformationING Ventures' mandate - do they focus on the strategic alignment with ING or financial gain?Deal sourcing - how does ING find new investment opportunitiesWhat are the minimum criteria to invest, if any?Success stories: Eigen Technologies, Flowcast - an early warning system for ING retail to identify when retail clients are likely to be distressed, Cobase, a company built and spun out from ING Labs (now with Nordea and Credit Agricole as investors)Lessons learned: Lean governance for a corporate VC is key to success in a fast-changing environmentWorking with a large bank takes time, but it can be massively impactful. There is no silver bullet when it comes to innovation in a large corporate, so many avenues need to be explored at the same timeStart-ups should continuously invest time in building a network of potential investors and, moreThe most efficient way to pitch your ideas to the ING Ventures team or ING in general
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