Oshkosh's CVC team is a hybrid, not siloed in one department. It includes members from corporate development, a venture lead in a tech hub (Bay Area), and a counterpart in an engineering business unit. This structure ensures that strategic goals, technological feasibility, and market deal flow are constantly aligned.
Rather than relying on formal knowledge sharing, Alphabet's X embeds central teams (like legal, finance, prototyping) that float between projects. These individuals become natural vectors, carrying insights, best practices, and innovative ideas from one project to another, fostering organic knowledge transfer.
Combining strategy, M&A, and integration under a single leader provides a full lifecycle, enterprise-wide view. This structure breaks down silos and creates a "closed-loop system" where post-deal integration performance and lessons learned directly feed back into future strategy and deal theses, refining success metrics beyond financials.
To encourage adoption of tech benefiting multiple business units, Oshkosh's CVC arm uses a central budget to fund initial proofs of concept. This removes the "who pays?" friction, as no single department has to bear the initial cost for a company-wide benefit, with the successful unit paying later.
To avoid a broken handoff, embed key business and integration experts into the core deal team from the start. These members view diligence through an integration lens, validating synergy assumptions and timelines in real-time. This prevents post-signing surprises and ensures the deal model is operationally achievable, creating a seamless transition from deal-making to execution.
Cisco's M&A capability is powered by a ~180-person "M&A Community" of dedicated and fractional experts embedded in functions like IT and finance. This distributed team serves as a bridge between central integration and functional execution, meeting regularly and using a shared platform to create a scalable, repeatable M&A machine.
To launch new products and compete with agile startups, embed a small "incubation seller" team directly within the technology organization. This model ensures tight alignment between product, engineering, and the first revenue-generating efforts, mirroring the cross-functional approach of an early-stage company.
Effective multi-threading isn't just about engaging multiple customer stakeholders. It also means strategically deploying your own team members—like founders, product experts, or engineers—at key moments. This "team sport" approach builds buyer confidence and de-risks complex enterprise deals.
Oshkosh's corporate development team presents venture opportunities in monthly meetings with the entire executive leadership. This process provides immediate feedback, allowing the team to quickly kill deals that lack support or identify which ones require a more robust investment thesis, saving significant diligence time.
TA Associates uses a hybrid investment committee. A central group reviews deals but delegates final approval to a small team of four partners (two from the deal team, two from the committee) who conduct deep, in-person diligence. This decentralizes decision-making to those closest to the information.
Oshkosh evolved its corporate venture capital from focusing on financial returns to prioritizing strategic innovation. This "CVC 2.0" approach emphasizes direct partnerships and technology integration to supplement in-house R&D, making innovation the primary goal, though financial returns are still a factor.