Shell
London, United KingdomFounded 1996
Shell Ventures is the corporate venture capital arm of Shell, established in 1996 as one of the first corporate venture funds in the oil and gas industry. It invests in start-ups and scale-ups developing technologies to accelerate the energy transition, with focus areas including renewable energy, mobility, emission management, and digital technologies.
51% of their portfolio is in Climate & Energy. Average disclosed round size is $51.4M (across 55 rounds with reported amounts).
Portfolio
63
Fund Size
$1.4B
Top Stage
Series A
Last 12 Mo
6
Team
Bilal Ahmad
Venture Principal
Muye Li
Venture Principal
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
76 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 LanzaJet | Growth | $135M | Feb 2026 |
 ObraLink | Unknown | $10.8M | Feb 2026 |
| WWaste to Energy Advanced Solutions (WtEnergy) | Growth | — | Feb 2026 |
 Ammobia | Seed | $7.5M | Jan 2026 |
 ElectronX | Series A | $30M | Nov 2025 |
 Avnos | Unknown | $17M | Nov 2025 |
 Bumper | Series B | — | Aug 2025 |
 Gridpoint Inc. | Growth | $45M | Mar 2025 |
| ElectronX | Strategic | $10M | Feb 2025 |
 Origen | Series A | $13M | Jan 2025 |
 Zap Energy | Series D | $130M | Oct 2024 |
 Sunswap | Unknown | — | Aug 2024 |
 Li Industries | Series B | $36M | May 2024 |
 AiDash | Series C | $58.5M | Apr 2024 |
 Alt Mobility | Seed | $6M | Jan 2024 |
 MIRICO | Seed | $2M | Jan 2024 |
 Fresh Bus | Series A | $10.5M | Jan 2024 |
 Princeton NuEnergy | Series A | $16M | Nov 2023 |
 XCharge | Series C | — | Sep 2023 |
 Kraftblock | Series B | — | Aug 2023 |
| Avnos | Series C | $80M | Jul 2023 |
 Agricarbon | Series A | — | Jan 2023 |
 Husk Power | Series D | $103M | Jan 2023 |
 Flair | Series A | $7.6M | Sep 2022 |
 Strohm | Unknown | — | Aug 2022 |
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Top Co-Investors
Lowercarbon Capital6 shared
Chevron Technology Ventures5 shared
Equinor5 shared
British International Investment4 shared
bp ventures3 shared
Energy Impact Partners3 shared
Toyota Ventures3 shared
Alumni Ventures3 shared
Innovation Endeavors3 shared
Systemiq Capital3 shared
Breakthrough Energy Ventures3 shared
Cemex Ventures3 shared
SKY VC3 shared
Greylock Partners2 shared
Index Ventures2 shared
Lightspeed Venture Partners2 shared
Sequoia Capital2 shared
Khosla Ventures2 shared
Moore Strategic Ventures2 shared
ENEOS Innovation Partners2 shared
Last updated: 7 September 2026