Argentina-based oil and gas producer Yacimientos Petrolíferos Fiscales (YPF) has created a corporate venturing arm called YPF Ventures that will invest through two vehicles: Argentina Energy Bridge and YPF Early Stage Fund.
Growth equity fund Argentina Energy Bridge will focus on cross-border investments while the seed-stage YPF Early Stage Fund will partner local entrepreneurs to strengthen the energy and cleantech innovation ecosystem in Argentina.
YPF Ventures intends to provide up to $4m for each deal, having already invested in Argentina-based renewable energy provider Sustentator and US-based micro-mobility company Bird Technologies.
Miguel Gutiérrez, president of YPF, said: “In the current scenario, leading an energy business requires anticipating what is coming, combining vision and innovation – two key assets that will allow us to deepen our purpose of transforming the lives of Argentinians through energy.”
YPF chief executive Daniel González added: “YPF Ventures captures and recovers the entrepreneurial spirit of our company, projecting it into the current scenario of innovation and technological disruption.”
