Venture capital is shifting from just funding disruptors to acquiring incumbent businesses, like a nonprofit health system. This provides a real-world environment for their portfolio startups to deploy and scale AI solutions, bypassing traditional enterprise sales cycles.

Unlike venture creation firms that generate ideas internally, Curie.bio operates on a 'Freedom for Founders' principle. It believes the best ideas come from external innovators and its role is to augment them with capital-efficient support, fractional expertise, and operational help to translate those ideas into companies.

Temasek's partnership philosophy is not about risk diversification. Instead, it prioritizes collaborating with partners who can augment its internal capabilities and provide specific skill sets it lacks for a given opportunity. This makes partnership a strategic tool for capability building, not just capital sharing.

In rapidly changing industries, a standalone M&A strategy is insufficient. Combine it with a corporate venture capital (CVC) program to evaluate whether to acquire current technology or make smaller investments in emerging, potentially disruptive companies, providing valuable market intelligence for future M&A decisions.

Exor is strategically entering the healthcare sector not through a large acquisition, but by taking significant minority stakes in companies like Philips and Institut Mérieux. This gives them a "front row seat" to learn the industry, build knowledge, and establish credibility for a long-term pivot.

In a fast-moving field like cybersecurity, it's impossible to build everything in-house. By treating M&A as an extension of the R&D department, a large company can leverage the venture-backed ecosystem to acquire innovative teams and products that are already validated.

Temasek's partnership philosophy prioritizes acquiring new capabilities over simple risk diversification. The fund actively seeks partners who possess specific skills it lacks for certain investment opportunities. This approach treats partnerships as a strategic tool for enhancing internal expertise rather than a purely financial mechanism for spreading risk.

Jeito's investment strategy focuses on taking significant equity stakes in companies with early clinical data. This allows them to secure a board seat and actively influence strategy. They differentiate themselves by providing portfolio companies with access to a deep network of in-house experts in regulatory affairs, commercialization, and business development, acting as a true operational partner beyond just capital.

Instead of only funding internal innovations, UPMC Enterprises actively sources best-in-class technologies globally and uses its integrated health system to pilot and validate them. This accelerates adoption of cutting-edge solutions and provides a unique value proposition beyond just capital.