PayPal shuts down $850Mn venture arm amid ongoing restructuring efforts

PayPal is shutting down PayPal Ventures, its corporate venture capital arm that deployed over $850 million across more than 80 portfolio companies since 2016. The closure is part of a major restructuring under CEO Enrique Lores to simplify operations and cut costs. The fund backed fintech names including Plaid, Anchorage Digital, and Divvy.