Expect to see more shut downs of the Corporate VC arms...in 2016, and growing shift towards partnerships with start-ups and funds and direct investments
Russia's Sberbank recently discontinued its three-year-old SBT Venture Capital after failing to see the results it wanted, said Mircea Mihaescu, who led that initiative until early December. The bank committed $100 million in late 2012 to the venture arm, which has invested $47 million of that in 11 startups, before deciding to change strategies. "They didn't realize that it takes time for startups to get to the level of maturity where they have more than one or two customers," Mihaescu said. Sberbank declined to comment.