at our time At an early stage event, we had the opportunity to speak in detail with Arvind Purushottam, Managing Director and Global Head of Citi Ventures, about how startups should be thinking about corporate venture arms, including checks from an enterprise like Citi. What might that mean, and how to take advantage of that kind of Goliath once you already have a financial partner.
For founders trying to understand the benefits and potential pitfalls of working with a corporate venture arm versus a more traditional venture team, this discussion is worth zipping through.
Of the many topics addressed, Purushottam enlightens us on how corporates have in some cases changed the way they operate, driven by necessity. He said the bottom line for Citi Ventures is that they have to move fast to stay competitive. Still, due to its internal systems already in place, including risk and compliance teams and senior management, moving rapidly is not a problem.
Purushottam said: “We haven’t had to wait for a second shutdown or request a second shutdown from the company. We’ve been able to close together with the rest of the syndicate.”