The CVC grows to €1bn in committed capital and becomes one of the largest venture capital units focused on electrification, digitisation and decarbonisation.

NCSoft invested $15m in Mysten Labs to take the latter’s series B round to $300m while Porsche backed Xanadu’s $100m series C.

The value of VC deals in China tumbled 44% to $62.1bn by the end of October, but energy-related startups are still raising big rounds.

Xiaomi provided $68.9m in series C funding for Atech Automotive while Intel and Micron were part of Eliyan’s $40m series A round.

The Amazon Climate Pledge Fund has pledged to invest more than $50m in female-led climate technology companies and has teamed up with USAID for the project.

The value of corporate-backed deals in the energy sector dropped in Q3 but the overall pace of deal making remains steady.

Octopus Energy Generation invested $127m in Be.EV while Centene Corporation and HopeLab took part in Hazel Health’s $51.1m series C1 round.

Battery recycler Ascend Elements and Geely spinoff Farizon each raised $300m while Saudi Aramco launched a $1.5bn Sustainability Fund.

Only a small portion of CVCs have lasted longer than two decades. Here are their secrets to staying the course.

There are five key factors that have helped the US oil and gas company's corporate investment unit keep going for 23 years.