The corporate VC arm launched in 2016 backed more than 80 companies, raised $850 million across three funds, and has halted new investments as Jefferies reviews options.
PayPal is shutting down PayPal Ventures, the corporate venture capital arm it launched in 2016, as the payments company reviews how to manage the existing portfolio. The unit invested in more than 80 companies, including Talos Global, Plaid and Anchorage Digital, and raised three funds totaling $850 million. New investments have been stopped, while a smaller team remains in place to support current holdings. PayPal has also hired Jefferies to examine potential paths for the portfolio, including secondary sales (resales of existing private-market stakes) of part of its venture investments.