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    Malaysia's Petronas Plans to Expand Venture Capital Arm with Up to $200 Million, Sources Say

    Mar 30,2024 | DAXTROMNSOLAR

    Malaysia's state oil company, Petronas, is reportedly planning to expand its venture capital arm by investing up to $200 million, according to sources. The move is aimed at diversifying Petronas' portfolio and supporting the growth of startups in the energy sector. The company's venture capital arm, called Petronas Ventures, currently manages a fund of around $100 million and has invested in several companies in the technology and renewable energy sectors. By increasing its investment, Petronas intends to further support innovation and contribute to the development of the energy industry.
    [My Thoughts]
    It is encouraging to see that Petronas, as a major player in the energy industry, is actively investing in startups and supporting innovation. In an era where renewable energy is becoming increasingly important, it is crucial for companies like Petronas to diversify their portfolio and contribute to the development of sustainable solutions. The expansion of their venture capital arm not only signifies their commitment to growth and innovation but also highlights their recognition of the potential in the energy sector. This move can potentially lead to the emergence of new and groundbreaking technologies, ultimately benefiting the energy industry and the environment as a whole.
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