Case Study

Nine Realms: Independent vs. corporate venture capital

18 pages
March 2023
Reference: IMD-7-2407

This case is designed to discuss the tradeoffs between independent venture capital (IVC) and corporate venture capital (CVC). Students also have the opportunity to analyze two startup investment opportunities based on Nine Realms’ criteria. The case concludes with a discussion about a strategic choice faced by Nine Realms: should it continue as an IVC, list on the stock market or shift to a CVC? This allows students to debate the tradeoffs between the two approaches for the individuals involved.

Learning Objective
  • Describe the pros and cons of IVCs and CVCs for corporates, individuals and startups
  • Analyze two startup cases in based on the Nine Realms investment criteria and make an investment recommendation
  • Assess the way forward for Nine Realms
Business to Business, Corporate Venture Capital, Supply Chain
Europe, Denmark
Nine Realms, Finance and Insurance, Venture Capital, Logistics and Supply Chain
Field Research
© 2023
Available Languages
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Teaching note
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