BP Exits Corporate Venture Capital, Selling ~$1.2B Portfolio to Verdane

BP is selling most of its BP Ventures portfolio — over 10 companies worth roughly $1.2 billion — to Nordic private equity firm Verdane. Launched in 2007, the venture arm invested in green hydrogen, e-mobility, autonomous vehicles, and geothermal energy. BP retains a few unnamed holdings. The deal is expected to close in Q2 2027.