technology
BP to Sell Majority of Venture Portfolio to Verdane
BP announced the sale of most of its venture investments, covering more than 10 companies, to Nordic private equity firm Verdane. The transaction is expected to close in the second quarter of 2027.
Jul 16, 1:37 PM·1m read1 source
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BP announced on July 16, 2026, that it is selling the majority of its venture portfolio to Verdane, a Nordic private equity firm. The portfolio includes more than 10 companies. BP launched its venture arm in 2007 and has invested in green hydrogen, e-mobility, ride-hailing, autonomous vehicles, private jet charters, and geothermal energy.
TechCrunch reported that the company will retain interests in a small number of investments where the technology has the potential to create value for its businesses. BP declined to specify which companies it will keep. The company also declined to comment on the fate of BP Ventures employees, citing local legal and regulatory requirements.
BP expects the portfolio sale to be completed in the second quarter of 2027. Axios reporter Alan Neuhauser reported last year that the BP Ventures portfolio was valued at about $1.2 billion, roughly equal to the amount BP had invested since 2006.
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