Chevron Technology Ventures Raises $90M Fund

Houston-based Chevron Technology Ventures, the venture capital investment arm of Chevron, said today that it has raised a $90M, investment fund, CTV Fund V. Chevron Technology Ventures (CTV) is a major investor in the energy and other related areas. According to Chevron, its fifth fund will focus on companies developing emerging technologies that have the potential to improve Chevron's oil and gas base business performance or create new opportunities for growth. The fund is headed by Barbara Burger, and currently has a portfolio of 37 companies. Chevron entered into the venture investing market back in 1999. CTV said it currently looks at more than 400 investment opportunities a year, and invests in one to three companies out of those many opportunities.