Corporate capital comes with a contract: read the exclusivity and ROFR clauses
Corporate venture capital is attractive because it brings a first customer, but the price usually sits in clauses that never appear in the deal announcement.
As independent fund capital becomes more selective, corporate money is a practical option for infrastructure, health and industrial startups. The catch is that these deals usually come as two documents: an investment agreement and a commercial agreement. The second one determines who else the company can still sell to. Editor's note: source data feeds were unavailable in this session, so this piece analyses structure only and cites no new figures.
- Sector or territory exclusivity: it caps the startup's market the moment the money lands.
- Right of first refusal and advance notice on a sale: both shrink the pool of potential acquirers.
- IP ownership over work built specifically for that corporate customer.
- Whether the decision sits with the investment arm or a business unit — that determines support in the next round.
Sources
This article summarises market information and is not investment advice. Vietnam Angel Network does not provide personalised investment advice.