Wharton Tech Toks Databricks: Tech Corporate Development and Venture Investing
Jun 25, 2024
In this engaging conversation, Cassie Miao, Director of M&A and Ventures at Databricks, shares her journey from banking to corporate development. She discusses the importance of knowing how corporate strategy and startup sourcing work together and highlights the skills necessary for success in tech corporate development. Cassie delves into emerging investment areas like GenAI, explaining its impact on data pipelines, and shares insights on unique diligence practices at Databricks, including leveraging customer data for investment evaluation.
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Invest For Strategic Fit
- Invest strategically in startups that create a "better together" story with your platform and fill customer gaps.
- Use partnerships as a signal but don't require them for investment decisions.
CVCs Are Now Sought After
- CVC sourcing has become easier as institutional VCs now invite corporate partners for operational support.
- Databricks also leverages executives, product champions, and direct outreach to find startups.
Usage Data As Due-Diligence Signal
- Databricks can use partner integration telemetry to observe real customer usage trends and validate startup traction.
- Usage patterns across joint customers are a unique due-diligence advantage.