Abstract
One of the reasons that new venture companies are not growing in Japan is that their exit strategies are limited to IPOs. Corporate Venturing (CV) is considered as a measure to help large companies become more involved in venture businesses and thereby improve the M&A market for ventures. CV is not only for venture companies but also is a great opportunity for large companies to make use of external resource for innovation. In Europe and the United States, various researches on CV have developed since 1980's and these research results have had impacts on businesses. This paper defines CV as Corporate Venture Capital (CVC) activities and alliances of large and venture companies and thus discussed the research frontier of Japanese CV research by intensive literature review. Because the research on CV has not progressed in Japan in these years, it has a lot to do for researchers for both large and venture companies.
