BP shuts corporate venture arm after 20 years

BP announced the closure of its corporate venture arm. The venture unit has been active for 20 years. It was part of BP's efforts to invest in emerging companies. The shutdown ends the long‑standing venture program. BP will no longer operate the corporate venture entity. The decision concludes two decades of venture activity. Startups previously backed by the arm may need new partners. Observers will watch how BP reallocates its investment focus.