CBINSIGHTS-2020年企业风险投资报告（英文）-2021.3-60页_1mb

报告摘要

2020 Global CVC Report Summary

Core Content

The 2020 Global CVC Report provides a comprehensive overview of corporate venture capital (CVC) activity worldwide, highlighting trends in deal numbers, funding levels, geographic distribution, and investment focus areas.

Main Points

Global CVC Activity

CVC-backed deals declined slightly for the first time in over 5 years, from 3,416 in 2019 to 3,359 in 2020.
CVC-backed funding reached a record high of $73.1B, up 24% YoY.
Mega-rounds (deals over $100M) increased to 182 in 2020, a 48% rise from the previous year.
The average deal size for CVC-backed investments grew to $28.6M, up from $20.8M for VC-only deals, narrowing the gap.

Top CVCs

GV (Google Ventures) remained the most active CVC with 81 investments.
Salesforce Ventures was the second most active, with 70 investments.
Intel Capital, Qualcomm Ventures, Lenovo Capital, and Slack Fund entered the top 10 for the first time in 2020.
Salesforce Ventures surpassed GV in unicorn deals, participating in 10 deals for companies valued over $1B.

Geographic Trends

Asia saw a recovery in funding, reaching $22.1B, up 33% YoY, though deal numbers declined slightly.
China led the recovery in Asia, with CVC-backed funding up 68% YoY.
Japan experienced a decline in both deals and funding, with funding dropping to a 4-year low.
India saw a rise in CVC-backed deals (114) and funding ($4.1B), with significant investments in Reliance Jio.
North America maintained a dominant position in funding, but deal share fell to a 5-year low.
Europe saw an increase in funding to $9B, up 18% YoY, despite a slight drop in deal numbers.

Investment Focus Areas

AI

CVC-backed AI deals and funding declined for the first time in 5 years.
Deals dropped 10% to 437, and funding fell 2% to $11.2B.
Asia gained a small share of AI deals, while North America saw the largest decline in deal share.

Cybersecurity

CVC-backed cybersecurity deals and funding reached record levels.
Deals increased by 13% to 140, and funding surged 31% to $3.8B.
Mega-rounds in cybersecurity grew 100% YoY to 12.
Salesforce Ventures became the most active CVC in cybersecurity with 12 investments.

Digital Health

CVC-backed funding to digital health companies hit a record $8.8B, up 68% YoY.
Deals increased to 310, continuing years of growth.
GV led the most active CVCs in digital health with 17 investments.
North America saw the largest CVC-backed digital health deal: a $319M round for XtalPi.

Fintech

CVC-backed fintech deals dropped 21% to 416, and funding fell 14% to $10.8B.

CPG (Consumer Packaged Goods)

CVC-backed CPG deals and funding reached new records, with funding at $1.5B.
Asia accounted for 36% of CVC-backed CPG deals, the highest share in 2020.
North America saw its share of CVC-backed CPG deals drop below 50% for the first time.

Key Information

Global CVC-backed funding reached an all-time high of $73.1B in 2020, despite a slight decline in deal numbers.
CVC participation in deals decreased slightly to 979 in 2020, the first decline in over 4 years.
CVCs stepped back from seed-stage deals, which accounted for only 24% of all CVC-backed deals, a 5-year low.
Silicon Valley saw its share of CVC-backed deals in the US drop to 35%, the lowest in 5 years.
New York and Massachusetts saw significant growth in CVC activity, with New York setting a new record for funding and deals.
China and India were standout performers in terms of CVC-backed funding, while Japan and Germany saw declines.
Mega-rounds became more prominent, especially in cybersecurity and digital health, with CVCs playing a key role in driving investment in these sectors.

Summary of Key Trends

Funding Growth Outpaces Deal Decline: While the number of CVC-backed deals slightly decreased, funding increased significantly, driven by mega-rounds.
Geographic Shifts: Asia and India showed strong recovery in funding, while Japan and Germany saw declines.
Sector Focus: CVCs increasingly focused on cybersecurity and digital health, with AI experiencing a slowdown.
Regional Hotspots: New York and Massachusetts emerged as key regions for CVC investment in the US.
Top CVCs: GV and Salesforce Ventures dominated the landscape, with new entrants like Qualcomm Ventures and Lenovo Capital entering the top 10.