US-listed oil major Chevron has been rated the most influential corporate venturing unit for the energy and natural resources sector.
Having invested $190m over the past decade in technology to help its parent’s operations, Chevron Technology Venture Investments has shown consistency and top performance in its financial and strategic goals.
The unit is led by Trond Unneland and operates four funds with $250m solely committed by Chevron. Unneland said: "We invest in companies whose technology has the potential to improve Chevron’s base business. That includes traditional energy, information technology, and clean-tech companies. Obviously, the closer fit the technology has to our base business, the greater and more immediate impact it can have for us."
John McDonald, vice president and chief technology officer at Chevron, said: "Differentiating performance through technology is a major business strategy for Chevron.
"Venture capital is one of the channels we use to create an ‘innovation pipeline’ to new technologies that meet specific business needs. The venture capital portfolio performs the role of identifying technology advances that could strengthen our core operations or lead to new profitable growth opportunities."
To read the full profile on Chevron and the feature on energy and clean-tech, as well as the best and fullest comment, analysis and news from the corporate venturing industry worldwide, please see this month’s issue of Global Corporate Venturing.