BP has significantly increased its capital allocation to its venture unit. Some 90% will go to energy transition, says head of unit Gareth Burns.
Category: People
Future Energy Ventures’ climate fund reaches $120m close
The VC fund backed by E.ON has reached a $120m first close and promoted Patrick Elftmann to US managing partner.
Gradient Ventures hires Brackin and Srinivas
Serial entrepreneur Andrew Brackin and seasoned VC Siri Srinivas have joined Alphabet’s early-stage AI fund as partners.
LaRocca joins Allison Transmission’s new CVC
Hybrid propulsion systems manufacturer Allison Transmission has hired Justin LaRocca as the director of its new venture arm.
Jallad joins Saudi Arabia’s Neom Investment Fund
After serving a year as head of European financial technology at RBC Capital Markets, Jallad will become the investment director at Neom Investment Fund.
Patel promoted to director of strategic investments at Citi
Mital Patel, formerly vice president of strategic and fintech investments at Citi, has taken up a director of strategic investments role.
Papievyte to lead XTX Ventures
Algorithmic trading group XTX Markets has named former investment manager Gabriele Papievyte as head of its corporate venturing unit.
Aramco Ventures poaches head of Delek team
Taha Syed Hussain, who led the Delek Innovation team for three years, is to become the head of VC investments at Aramco Ventures.
Ex-corporate venture capitalist Chiang launches new VC firm
The new fund called Myriad Venture Partners has received backing from IT corporation Xerox, which will be an anchor investor for the fund.
Walmart shutters incubation unit
The US retail chain operator’s seven-year-old Store No 8 is ceasing operations and its head, Scott Eckert, is exiting the firm.
CVCs are ready to meet growing expectations
There are signs that the investment market may resettle in 2024 and CVCs are emerging from this rocky period stronger than when they entered it.
Galitzer joins Koch’s US CVC team
Koch Disruptive Technologies has promoted Israel-based director Jon Galitzer to a US managing director role.
Bosch Ventures hires Christian
Corey Christian has joined Robert Bosch’s CVC unit as an investment director, where he will focus on US east coast deals.
Brillault bids adieu to Aliad
After a decade at Air Liquide in various roles, most recently managing director for its CVC unit, Vincent Brillault joined Audacia.