Corporate venture capital as a catalyst for sustainability transitions: a cross-sector conceptual model
DOI:
https://doi.org/10.3846/bm.2026.1635Abstract
Corporate venture capital (CVC) is increasingly positioned as a strategic lever for incumbent companies in their transition to sustainability. However, there is a lack of an integrated understanding of how CVC translates into transition-related sustainability outcomes across heterogeneous sectors that differ in asset intensity, infrastructure dependence, regulatory background, and time-to-scale. Based on bibliometric analysis, this study develops a cross-sector conceptual model explaining how CVC can function as a catalyst in sustainability transitions. Grounded in Socio-technical transition theory, illustrated by the Multi-Level Perspective (MLP), the model is structured as Antecedents–Actions–Outcomes (AAO) framework. The study examines the key characteristics of CVC in sustainability transitions and analyses how its antecedents, mechanisms, and outcomes differ across sectors, positing that sectoral characteristics condition subsequent CVC actions and eventual transition outcomes. The resulting conceptual model offers a set of propositions to guide future empirical research across sectors where CVC contributes to sustainability transitions.
Keywords:
corporate venture capital, corporate venturing, sustainability transition, green sectors, conceptual frameworkHow to Cite
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