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§ Venture Capital · USA
Corporate venture capital investing in energy startups & technologies for operations, digitalization, low-carbon.
Chevron Technology Ventures is the corporate venture capital arm of Chevron Corporation that invests in emerging energy technologies and startups, based in Houston, Texas. The firm focuses on strategic investments in operations, digitalization, and low-carbon solutions that can integrate directly into its parent company's core business. Operating as the longest continuously active corporate venture firm in the energy sector, it manages multiple investment vehicles, including its sixth Core Venture fund, five closed funds, and eleven known commitments. The organization has invested in more than 100 external portfolio companies to date, including geothermal startup Eavor, which it supported alongside CAD $8.9 million in Canadian government grants. Key leadership figures driving the firm's strategic direction include current president Balaji Krishnamurthy and former president Barbara Burger. Chevron Technology Ventures was officially founded in 1999, with no specific founders publicly disclosed.
Key people at Chevron Technology Ventures.
Chevron Technology Ventures (CTV) is the corporate venture capital arm of Chevron Corporation, established in 1999 to identify, invest in, and integrate externally developed technologies that enhance Chevron’s ability to produce affordable, reliable, and cleaner energy. Its mission centers on supporting startups and emerging companies that develop innovations in operational efficiency, digitalization, and lowering carbon intensity, thereby advancing Chevron’s core business and future energy solutions. CTV manages multiple funds, including the Core Venture Fund focused on operational enhancements and the Future Energy Fund, which targets breakthrough technologies in carbon capture, energy storage, emerging mobility, and industrial decarbonization. Through strategic investments and partnerships, CTV plays a pivotal role in accelerating energy tech innovation and fostering a collaborative ecosystem for climate tech startups[1][2][3][4].
Founded in 1999, Chevron Technology Ventures was created to bridge Chevron’s internal innovation efforts with the external startup ecosystem. Key leadership includes Barbara Burger, president of CTV and Chevron’s vice president of Innovation, who emphasizes targeted investments that solve specific operational and environmental challenges. Over its history, CTV has invested in more than 100 companies and collaborated with over 300 co-investors, evolving its focus to include digital transformation and sustainability as the energy sector shifts toward decarbonization. The launch of the Future Energy Fund in 2018 and its expansion in 2021 reflect CTV’s commitment to supporting technologies that enable a cleaner, more electrified, and decentralized energy future[1][2][4].
Chevron Technology Ventures rides the global trend toward energy transition, focusing on decarbonization, digitalization, and operational efficiency. The timing is critical as the energy industry faces increasing regulatory, environmental, and market pressures to reduce carbon emissions and adopt sustainable technologies. CTV’s investments support the shift to electrified, decentralized, and circular energy systems, influencing the broader ecosystem by enabling startups to scale solutions that address climate change and energy reliability. By integrating external innovations, CTV helps Chevron and the industry adapt to evolving market forces and technological disruptions[1][2][4].
Looking ahead, Chevron Technology Ventures is expected to expand its investment scope into advanced materials, novel fuels, and emerging energy technologies while deepening partnerships with industry leaders and academic institutions. Trends such as industrial decarbonization, energy storage, and emerging mobility will shape its portfolio. CTV’s influence is likely to grow as it continues to bridge corporate innovation with startup agility, playing a crucial role in the energy sector’s transformation toward a lower-carbon future[2][4]. This ongoing evolution ties back to CTV’s founding mission of integrating breakthrough technologies to produce cleaner, more reliable energy.
Key people at Chevron Technology Ventures.
Chevron Technology Ventures has more than 26 tracked investments across 20 companies. The latest tracked deal is $60.0M Series A in DG Matrix in February 2026.
