Business · 2h ago
BP shuts down corporate venture arm after two decades
BP Ventures, the oil giant's corporate venture capital unit, is closing after nearly 20 years. The arm invested in startups across energy and tech but reportedly delivered poor returns. The shutdown reflects a broader trend of corporate VCs pulling back amid market pressures.
Meridian48 take
The closure underscores how even deep-pocketed corporate investors struggle to generate returns in venture capital, especially when their core business faces existential transition.
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