BP Sells ~$1.2B BP Ventures Portfolio to Verdane, Winding Down 19-Year Corporate VC Arm

BP announced July 16, 2026 it is selling the majority of its BP Ventures portfolio — over 10 companies valued at roughly $1.2 billion as of 2025 — to Nordic PE firm Verdane. BP launched the venture arm in 2007, investing across green hydrogen, e-mobility, autonomous vehicles, and geothermal energy. BP will retain a small number of investments but declined to name them. The deal is expected to close in Q2 2027.