--- title: Oil giant BP shutters its corporate venture arm after 20... description: BP is shutting down BP Ventures, its corporate venture arm launched in 2006, after nearly 20 years of reportedly lackluster returns. The oil giant is selling... canonical: https://daily.dev/posts/oil-giant-bp-shutters-its-corporate-venture-arm-after-20-years-dawkyqmmd twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Oil giant BP shutters its corporate venture arm after 20 years | daily.dev og:description: BP is shutting down BP Ventures, its corporate venture arm launched in 2006, after nearly 20 years of reportedly lackluster returns. The oil giant is selling... og:url: https://daily.dev/posts/oil-giant-bp-shutters-its-corporate-venture-arm-after-20-years-dawkyqmmd og:image: https://api.daily.dev/og/posts/DAwkyQmMd.png og:image:alt: Oil giant BP shutters its corporate venture arm after 20 years og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Oil giant BP shutters its corporate venture arm after 20 years **[TechCrunch](https://daily.dev/sources/tc)** · 2 min read · 0 upvotes · 0 comments ## Summary BP is shutting down BP Ventures, its corporate venture arm launched in 2006, after nearly 20 years of reportedly lackluster returns. The oil giant is selling the majority of its portfolio — over 10 companies — to Nordic private equity firm Verdane, with the sale expected to close in Q2 2027. The portfolio, which spanned green hydrogen, e-mobility, autonomous vehicles, and geothermal energy, was valued at roughly $1.2 billion, approximately equal to the total amount invested. BP will retain a small number of investments with strategic value. The closure follows BP's earlier pivot away from clean energy in 2026, signaling a definitive retreat from climate tech. ## Full article daily.dev links to this article rather than hosting it. 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