How do VCs view a Corporate Strategy Background?

In terms of hiring for a later-stage job in tech VC (VP, principal), what do firms think of people with backgrounds in corporate strategy or corporate development (realizing they're not the same thing) from big tech companies like AMZN, MSFT, GOOG, and YHOO? Would the senior connections at these potential acquirers of portfolio companies and industry expertise outweigh the fact that GOOG and the like share little with a tech startup and are hardly at the cutting edge?

Interested in hearing what folks in the industry have to say...