(WO) — bp has agreed to sell the majority of its bp Ventures portfolio to investment firm Verdane, continuing the company’s strategy of simplifying its portfolio and focusing capital on core business priorities.
The transaction includes bp Ventures’ minority interests in more than 10 companies developing energy-related technologies. Financial terms were not disclosed.
bp said the divestment is intended to streamline its investment portfolio while providing the portfolio companies with a new investor focused on supporting their next stage of growth.
The company will retain stakes in a small number of ventures whose technologies are considered strategically important to bp’s businesses.
The transaction remains subject to regulatory and contractual approvals and is expected to close during the second quarter of 2027.
The sale is the latest step in bp’s broader portfolio optimization strategy, which has emphasized disciplined capital allocation, selective investment and the simplification of its asset base.
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