PayPal is exploring options for PayPal Ventures, its corporate venture arm launched in 2016. The review comes as CEO Enrique Lores simplifies operations and focuses investment on areas it expects will have the most impact.

PayPal Ventures says it has made more than 80 investments. Its portfolio includes Plaid, the San Francisco-based fintech infrastructure company; Talos Global, a crypto trading platform; and Anchorage Digital, a crypto bank.

The unit was set up to accelerate financial services and commerce by backing startups relevant to PayPal’s strategy while seeking financial returns.

PayPal has hired Jefferies to explore secondary sales of some venture holdings as it weighs options for the unit.

The review also comes after PayPal agreed to a US$30 million Justice Department settlement over its 2020 Economic Opportunity Fund for Black and minority-owned businesses.

🔗 Source: TechCrunch

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