Monday, November 7, 2011

Speaking of Corporate Venture Funding

Last week I wrote about pursuing angel and strategic investments from large corporations. Well, in case you hadn't heard, I thought I'd pass along this tidbit, courtesy of Dan Primack's Term Sheet,

Citi (as in Citi Group or Citi Bank) not only has a corporate venture fund, they're trying to mirror the VC big boys. Citi has set up a venture funding office in Silicon Valley...and hired people from Battery Ventures and Menlo Ventures to help run it. This comes after they closed their venture fund (more of a PE fund) in Tokyo earlier this year due to poor deal flow and had significant turnover in their Citi Venture fund based in India.

Endgame: If Citi is your bank, they may be able to provide equity financing in addition to debt (bank loans)...or perhaps a hybrid of the two.

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