US energy utility PG&E Corporation has renamed its corporate venturing unit after making its first investment since restarting the division in December.

On May 7, PG&E changed the name of Pacific Venture Capital to Pacific Energy Capital I after originally starting the operation in June 2000 under Bryant Tong to make up to $500m in investments over the following five years.

However, PG&E emerged from bankruptcy in 2004 and the affiliate was quiet until December when the utility renamed it…

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