Venture Partners Research Articles

Cut or Close in? Examining Social Relations from Stakeholders Perspective Towards Family Business Success

Stakeholder social support is integral to the thriving of the succesors in a family business. The paper aims to develop an understanding about the provisions of social nudge that influence the support of stakeholders (viz., life partner, investor, community of entrepreneur, expert, venture partner and employee) towards the role of successor in the family business. Implicit in many discussions of congruence of gender roles and job roles is the idea of perceived incongruity between the female gender role and leadership roles. We address whether this intuition is supported by the empirical data in the context of 218 family businesses i.e., 1,308 stakeholders. The role is understood in terms of the gender role congruity of the successor, in simple words, the effect of the gender of the successor in shaping the social support from stakeholders. Network Relationship Inventory-Social Provisions Version (NRI-SPV) (Furman & Buhrmester, 1985) is used to conceptualize social provisions and thus, is used to measure stakeholders’ social nudge. The results imply that social nudge comprises of antagonism as negative quality and affection, nurturance and reassurance of worth as positive quality. The positive and negative social nudge by the stakeholders along with the gender effect determines the support of stakeholders towards the family business successor. Moderation analysis further reveals that gender influences the stakeholders’ positive and negative qualities.

A Study on the Risk-Return Evaluation of Corporate Annuity Portfolios in China

Purpose - The purpose of this study is to evaluate the risk-return of China’s corporate annuity portfolio. In addition, it aims to enhance the quality of corporate annuity principals to strengthen corporate annuity control and risk-return evaluation by setting performance benchmarks to evaluate the investment portfolio mechanism of the investment manager. Design/Methodology/Approach - This study combines modern portfolio theory, financial regulation theory, and risk management theory to analyze the risk-return of corporate annuity portfolios of Qiming Venture Partners. The three analysis methods, VaR, Mean-Variance, and Sharp, were used to establish a risk-return analysis mechanism for the portfolio of corporate annuities and securities. Findings - The results of the study show that the risk-return prediction evaluation model is useful for the preinvestment and post-investment risk-return evaluation of annuity portfolios, and for companies to evaluate the effectiveness of investment manager portfolios. Research Implications - Corporate annuities need to be cautious in launching new products. They should prioritize the allocation of equity assets with more mature portfolios, and relax country-specific allocation limits. The number of investment portfolios should be increased, the types of asset allocation portfolios should be enriched, and the risk regulation system should be actively applied.

Resilience raises $625 million

National Resilience, a venture-backed pharmaceutical services firm, has closed a $625 million round of series D financing; it is also disclosing a $600 million financing round it completed last August. The 2-year-old company, launched by Arch Venture Partners with $800 million in initial funding, also debuted its latest venture: a 5-year alliance with the Parker Institute for Cancer Immunotherapy (PICI) that aims to nurture start-ups working on cell and gene therapies based on technologies developed at PICI’s immunotherapy research centers. The partners have committed up to $50 million to the project. Resilience has amassed 10 facilities in North America through acquisition since its debut and has over 1,600 employees. Working in collaboration with commercial and institutional researchers, Resilience is developing technologies in biologics, vaccines, nucleic acids, and cell and gene therapies, according to CEO Rahul Singhvi. The company announced a partnership with Harvard University last year to develop novel biologics,

Institutional determinants of IJV partner choice in Europe: a host-country, a home-country or a third-country partner?

PurposeThis study aims to examine the international joint venture (IJV) partnership strategy in Europe from an institutional perspective. A firm operating in a foreign country via an IJV can partner with a local firm from the host country, a firm from the same home country or a firm from a third country. This study takes the first step in examining the determinants of these partner choices.Design/methodology/approachThis study tests hypotheses based on a data set of 637 IJVs in Europe.FindingsForeign firms are less likely to operate in a partnership with a firm from the home country or from a third country (compared to operate in a partnership with a local firm) when the host country institutions are weaker or institutional distance is larger. Also, foreign firms’ disinclination to operate in a partnership with a firm from the home/third country when the host country institutions are weaker or institutional distance is larger will diminish with greater host-country experience.Practical implicationsThis study provides important insights for firms for evaluating partner choice and potential collaborations in the European region with heterogenous institutions.Originality/valueThe partner choice among the above three forms has been neglected in the literature. This study first conceptualized that the institutional profile of the host country and institutional distance between the host country and the home country can determine the partner choice.

RNA Therapeutics: Top 5 RNA Therapeutics Companies to Watch in 2022

RNA Therapeutics: Top 5 RNA Therapeutics Companies to Watch in 2022

Developing a Conceptual Partner Selection Framework: Digital Green Innovation Management of Prefabricated Construction Enterprises for Sustainable Urban Development

Digital green innovation management activities are the core of low-carbon intelligent development of prefabricated construction enterprises (PCEs) for sustainable urban development. PCEs have to seek joint venture partners to avoid the financial risk of digital green innovation projects. The purpose of this study is to develop a conceptual partner selection framework for the digital green innovation management of prefabricated construction towards urban building 5.0. In this study, first, symbiosis theory and six analysis methods were integrated to innovatively build a 3W1H-P framework system for the joint venture capital partner selection of digital green innovation projects. Second, the dual combination weighting method was innovatively proposed to avoid subjective and objective deviation in attribute weight and time weight. Finally, empirical research was carried out to verify the scientific nature, reliability, and practicability of the framework system and selection model. The results of this study show that the framework system and selection model proposed can be used to assist PCEs to select joint investment partners of digital green and innovative projects for sustainable urban development.

From drug target inhibition to degradation: a TACtical strategy

The promise of targeted protein degradation to drug ‘undruggable’ proteins is driving a surge of venture funding and partnerships around this novel therapeutic modality. The promise of targeted protein degradation to drug ‘undruggable’ proteins is driving a surge of venture funding and partnerships around this novel therapeutic modality.

Why do good deeds go unnoticed? A perspective on the legitimacy Judgment of social entrepreneurship in China

ABSTRACT The support of entrepreneurial partners is key to social entrepreneurship and the continuous creation of social value. However, social entrepreneurship in China does not receive sufficient support from venture partners, contrary to the moral spirit of benevolence advocated by traditional Chinese Confucianism. From the perspective of the legitimacy judgement of entrepreneurial partners and using information processing theory, we construct a theoretical model of the interaction between uncertainty and entrepreneurial passion in entrepreneurial engagement and test hypotheses with data from 325 questionnaires completed in China. The results show that uncertainty negatively affects social entrepreneurial engagement, entrepreneurial passion positively affects social entrepreneurial engagement, and legitimacy judgement plays a mediating role in the relationship among uncertainty, entrepreneurial passion, and entrepreneurial engagement. The interaction between uncertainty and entrepreneurial passion affects entrepreneurial engagement through pragmatic legitimacy judgements and moral legitimacy judgements but not through relational legitimacy judgements. We examine why it is difficult for meritorious Chinese social entrepreneurial activities to obtain sufficient support from the perspective of entrepreneurial partners’ judgements, extending the legitimacy judgement theory of social entrepreneurship from the perspective of interaction between individuals and the context.

Element of Surprise: San Diego Biotech Seeks to Disrupt Next-Gen Sequencing Space

Element of Surprise: San Diego Biotech Seeks to Disrupt Next-Gen Sequencing Space

Partner Fit between Partner Firms and IJV Performance: A Non-linear Relationship

Purpose This study analyzes the effect of partner fit between international joint venture (IJV) partners on IJV performance as a nonlinear relationship. Design/Methodology/Approach A survey was conducted on international joint venture companies belonging to the manufacturing industry in Korea formed between Korean and foreign companies, and multiple regression analysis was conducted. Findings As a result of empirical analysis, it was confirmed that there was an inverted U-shape relationship between partner fit and IJV performance. Research Implications This study suggest that partner fit has a positive effect on IJV performance to a certain level, but excessive partner fit may lead to a decline in IJV performance because over-embeddedness hinders new learning and innovation between partners.

Irrigation on the move: How transient farming partnerships facilitate the expansion of smallholder irrigation along ephemeral rivers in dryland areas of Kenya

Irrigation is commonly viewed as an activity fixed in time and place requiring permanent infrastructure. However, smallholder farmers in Sub-Saharan Africa engage in irrigation in diverse locations under different organizational modalities. This research analyses a flexible and dynamic form of irrigation driven by unique partnerships between migrants and local actors who derive benefits from land and water resources along a sand river. The case study of the ephemeral Olkeriai sand river in Kajiado, Kenya, was based on a baseline survey of 107 farm plots and 23 in-depth interviews with farmers. We found that 75% of the farm plots were managed under transient farming partnerships between migrant farmers and capital providers, locally known as tajiris, who leased land from local landowners to grow high-value market crops. These partnerships are based on flexible agreements between the actors and the frequent need to review and re-build them creates a fertile ground for new entrepreneurial players from within and outside the area, playing a key role in accelerating irrigation intensification and expansion. However, these irrigation ventures are not always successful. Unreliable partners, unstable market channels and increasing costs of irrigation inputs frequently result in farm losses and breaking up of partnership ventures. Furthermore, the lack of collective action among various resource users at the catchment level raises questions on how to sustainably manage the natural resources in sand rivers.

E&P Notes (February 2022)

E&P Notes (February 2022)

Improving the Joint Venture Relationship and Working Culture in the Nigeria Oil & Gas Industry

The focus of this research is to investigate the working culture and the relationship between joint venture (JV) partners in the Nigerian oil industry and its impact on JV project performance. The major international oil companies (IOC) having JV with the Nigeria National Petroleum Company (NNPC) in Nigeria are ExxonMobil, Royal Dutch Shell, Total, Chevron, and ENI. An organizational working culture can be said to be the organization’s belief system, thought processes, the attitude of the employees, their ideologies, and the organizational principles of doing things. The research methodology used is a qualitative questionnaire based on a systematic random sampling of targeted participants both in and out of the Nigerian oil and gas industry. The research analyzes the root cause of the inefficiency experienced in the Nigerian oil industry, which is responsible for JV project delays, recent divestment by the IOCs, frequent community-related work stoppages at JV project sites, sabotage of oil pipelines, and the un-restfulness in the Niger Delta area. The research work is intended to inform the need for cultural change in JV operations in Nigeria oil and gas industry by providing information on the existing JV working culture, partners relationship under the current joint operating agreement (JOA) vis a vis best global practices and to make recommendations to the Nigerian populace especially the new board of director that will be appointed early 2022 following the new petroleum industrial bill (PIB) that has just been signed into law. This article is to provide information for the required restructuring and define the effective and efficient relationships and working culture under a new JOA. The result obtained established the fact that the existing working culture and relationship between the JV partners in the Nigerian oil and gas industry are not only unsustainable but unfit to deliver individual or joint venture interest. The JV operations must be incorporated as a legal entity having its own organization, dedicated management, and a workforce that will develop a positive working culture focused on achieving the JV goals and objectives.

How can Carphone Warehouse ensure successful cooperation with its joint venture partner Best Buy in the European market?

Fitting accomplice determination is an essential worry for organizations who need to address material manageability issues through cross-area organizations. Be that as it may, the ebb and flow research on materiality examination and accomplice choice is still in the early transformative phase. This paper adds to understanding accomplice choice by corporates through an inside and out investigation of the business' determination of philanthropic association (NPO) accomplices, in light of contextual analysis exploration of Northumbrian Water Ltd. (NWL), a UK private area association giving water supply and sewerage administrations. Utilizing the proof from this review, we propose a system for the determination of accomplices in light of the imminent effect of cross-area organizations on material maintainability issues. Our paper likewise gives a helpful tool stash to organizations to assess these forthcoming effects. The structure shows the way that materiality as for maintainability issues can be surveyed both responsively and proactively, and how this appraisal can all the more likely illuminate the accomplice choice interaction by corporates. This comprehension of how materiality is evaluated and accomplices are chosen by and by is upheld by a setting explicit model and adds to information and practice of materiality examination as well as cross-area organizations

The Impact of Private Sector Participation in the Operations of Nigerian Ports Authority within the Context of Nigeria’s PPP Legal Framework

The Nigerian Ports Authority (NPA) has always prided itself as the gateway to Nigeria’s economy. Conscious of its role to the national economy, it has over the years embarked on system reforms that progressively saw to private sector investments in its terminals, equipment and services. It utilized management contracts, joint venture partnerships, concession arrangements and amortization programmes, among diverse private sector participation models, for a more effective and efficient port operations. The glaring hypothesis is that in spite of these efforts, cargo handling has remained outrageously expensive with its corresponding spiral effect on the cost of goods to ultimate consumers. The fundamental issue, which this paper seeks to identify, is the impact or otherwise of the port reforms to the immediate and remote port’s stakeholders. Using the doctrinal method of research, the paper utilized primary and secondary sources that includes information from journals, conference papers, newspaper articles and internet searches to trace the evolution of port reforms, identify the different methods of private sector investment in ports infrastructure and services, and consider the impact of the reforms to the overall efficiency and effectiveness of the port system. The paper found that the impact of the port reform was a mixed bag as the cost of cargo handling is outrageously expensive to make cost of goods unaffordable to ultimate consumers. It therefore recommended that PPP risk assessments and analyses should be more comprehensive to include transport value chain and macroeconomic forecasts; the legal framework should be amended to accommodate more innovative PPP models; the institutional framework should have the capacity to insulate transactions from political interference and official corruption; and that Federal agencies operating in the ports should be streamlined while critical ports activities should be automated to a single window so as to reduce human interventions. These recommendations, if implemented, could achieve the national aspiration of creating a preferred maritime hub in Nigeria’s ports.

Partnership venture capital and post-IPO innovation behaviours in China

Partnership venture capital and post-IPO innovation behaviours in China

Partnership venture capital and post-IPO innovation behaviours in China

Venture capital, an incubator of technological innovation, generally pursues IPO as a successful exit channel. However, numerous China's venture capital institutions still hold shares after IPO since they have long-term strategic goals. This study investigates how partnership venture capital affects companies' post-IPO innovation behaviours based on a sample of 479 Chinese listed companies in the growth enterprise market (GEM) from 2009 to 2017. As revealed by the results, partnership venture capital can expedite enterprise innovation, particularly exploratory innovation. The result exhibits robustness to a number of estimation techniques, including PSM, Heckman's selection model and instrumental variable. Partnership venture capital with a government background and syndicate partnerships can significantly inhibit companies' innovation. This study provides empirical evidence to interpret innovation in terms of partnership venture capital.

Critical success factors for tomorrow’s cellular immunotherapies

<div class="authors authors-lg"><div class="author"><div class="author-img"><img src="https://cdn.insights.bio/uploads/Peter_Emtage-1566_proper_size copy 2.jpg" data-image="1"></div><div class="author-det"> <b>Peter Emtage</b> is a Venture Partner with Versant Ventures. Prior to joining Versant, Peter served as the Global Head of Cell Therapy Research at Kite Pharma, a Gilead company. Previous roles include Chief Scientific Officer at Cell Design Labs Inc., which was acquired by Gilead, and Vice President of Immune Mediated Therapy in the Oncology Innovative Medicines group at MedImmune. He has over 25 years of drug development experience in the fields of oncology, autoimmunity, infectious diseases, and inflammation. </div></div></div>

E&amp;P Notes (November 2021)

E&amp;P Notes (November 2021)

Neumora launches with $500 million

In one of the largest biotech debuts this year, Neumora Therapeutics has raised $400 million in series A financing from more than a dozen venture capital firms, plus $100 million from Amgen. The firm’s goal: precision small-molecule therapies for a multitude of brain diseases. The start-up was quietly founded in late 2019 by several people at Arch Venture Partners, neurobiologist Morgan Sheng of Broad Institute of MIT and Harvard, and others. The company has since grown to a team of 90 people based at sites just outside Boston and San Francisco. Neumora has acquired four smaller start-ups that will help it hit the ground running. It has eight drug programs, plus a research collaboration with Amgen on additional programs for brain diseases including amyotrophic lateral sclerosis and schizophrenia. CEO and cofounder Paul L. Berns says the company is based on advances in neuroscience disease biology and computational data science. Neumora