Three months ago as the impact of the coronavirus’ spread around the world was becoming clearer with an economic lockdown there were few potential points of light.

One was the idea corporations could go from a fixed to a growth mindset and become more open to third-party capital. As the GCV editorial said: “Financial investors are interested in backing CVCs with sector/investing experience as there are now more than 600 CVCs with a 10-year-plus track record which is a whole new cohort of managers to back just when pension funds are looking to downturn to increase or meet allocation.

“This makes it possibly the greatest explosion of new, competent managers to an asset class in history.”

Fosun RZ Capital, China-based investment unit connected to local corporation Fosun has leapt into the opportunity with the first close at $186m of its debut fund raised from third-party capital, according to Fosun RZ now manages $1.4bn.

In addition, corporations have continued to back their CVC units, leading to stronger-than-expected second quarter investment values, according to GCV Analytics, which help maintain the overall venture ecosystem and showcase lessons have been learned from the implosion 20 years ago and their leadership.

VCs are also creatively exploring their options. Ribbit Capital, backed by banks BBVA and SVB to find fintech startups, is forming a $600m special purpose acquisition company (Spac) to target fintech businesses, which could be made public as soon as early August, according to two people talking to the Financial Times, on top of a normal $420m sixth limited partnership.

Spacs raise money from investors to acquire companies and take them public, usually within a two-year timeframe, and raised $13.5bn in the first half of the year — double the amount raised during the same period in 2019, according to Refinitiv data used by the FT.

Chamath Palihapitiya, founder of Social Capital Hedosophia and former Facebook executive, raised more than $1bn this year for two blank-cheque vehicles targeting tech companies, after his first Spac brought Virgin Galactic on to public markets last year.

Bow Capital Management, a venture capital firm with backing from the University of California, is also aiming to raise $350m for a Spac targeting tech businesses, the FT added.

As public and private capital markets increasingly blur, more sophisticated funding models will take hold but when looking at a spreadsheet for financial advantage it will remain important to keep in mind the people running the business.