Iain Cooper, manager of technology investments, moved to head oil services company Schlumberger’s corporate venturing deals in 2007 after his first 15 years with the company. A decade on and he looks after early-stage technology scouting and corporate venturing for Schlumberger Worldwide and regarded as an ideal boss to Andrea Course and Tyler Durham as venture principals for his levels of support to colleagues, insights and freedom for them to achieve their goals. His persistence and ability in venturing has also paid off with the company committing to a larger initiative.
Last year, Imran Kizilbash, vice-president of the expanded Schlumberger Venture Fund, who announced his retirement this month, said: “At the end of 2016, Schlumberger decided to significantly increase its activity in the corporate venture capital space, and will consider investment opportunities from a broader spectrum of industries, ranging from energy and mobility, to transformative software.
“Technology is one of three core values at Schlumberger, which created its corporate venture capital unit nearly a decade ago. Iain has been instrumental in directing our efforts to gain access to technologies outside our industry vertical and partnering venture companies, which has proven to be a successful source of innovation for Schlumberger.
“STI had expanded into categories like renewables, software and the internet of things under Kizilbash’s leadership and its function essentially comes down to “being ready to transform if and when required,” he added at the GCV Symposium.
Cooper added for last year’s profile: “In terms of achievements we had a nice exit with Liquid Robotics – with a pretty good multiple [in the sale to Boeing] – and with an eye to the future, we undertook the first investments for Schlumberger in the renewable energy and oil and gas decarbonisation spaces with Kite Power Solutions [raising £5m], Alphabet Energy [raising $23.5m] and GHGSat [for its satellite-aircraft hybrid detection of methane emissions].”
Cooper himself gained a PhD in meteorology from Reading University in 1992, before which he studied mathematics and physics at Bristol University. He joined Schlumberger as a research scientist in 1992 before working his way up to product development manager by 2007, when he founded the corporate venturing group. He keeps active on the creative side, with at least 26 granted US patents and a few more pending.