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Whether open innovation and venture capital activities should be executed in close cooperation or separately largely depends on the organization. For more mature, innovative companies, separating CVC and open innovation may make these functions quicker and more effective. For those organizations that are early in their innovation and digital transformation journey, keeping them close may be a better idea. This is because both functions are trying to still figure out how similar or different their scope is and what are the best tools and geographies to work with. Working on these questions jointly may save a lot of time, effort, money, but also create a better structure with more strategic value overall. In this blogpost, I will go over those types of value which I believe could be drawn out of the joint cooperation between the CVC and open innovation functions.