BP Ventures, the corporate venturing unit of oil and gas supermajor BP, has participated in a $4m Series A financing of California-based biotechnology company Taxon Biosciences.
The financing, filed on 6 May 2013, was led by Solera Capital, the New York-based private equity investor founded by former JP Morgan banker Molly Ashby in 1999.
Taxon Biosciences was founded in 2000 to develop biotechnologies for the agriculture, oil and gas, and life science sectors. Within the oil and gas sector, Taxon is developing applications based on the role of microbiology communities in reservoirs.
The BP Ventures team focuses on supporting the development of clean energy technology and process efficiencies and has invested more than $150m since it began operating in 2006.