M&A Science
How Corporate Venture Capital 2.0 is Reshaping M&A with Jennifer Miller
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Jennifer Miller - Senior Director of Corporate Development, Oshkosh Corporation
Oshkosh's venture team adds more than 400 startups a year to its pipeline. That's too many to analyze one at a time. So Jennifer Miller's team works by theme, starting from what the business units say their customers will pay for.
Jennifer explains what Oshkosh calls CVC 2.0: the partnership comes first and the investment second. She covers why Oshkosh owns IP it develops with a startup and licenses it back, and why it asks for information rights but avoids a right of last refusal. She also explains how warrants tied to shared targets could let a corporate back the winners without putting much money in up front.
One piece of her advice to new CVC teams is to decide early which tools will track your deal flow. DealRoom Pipeline keeps targets, notes, contacts, and custom stages in one place, with dashboards and automated reports for leadership. See how it works: click here.