Markets
Corporate Venture Capital Is Splitting In Two: PayPal Ventures Winds Down, Fidelity International's Arm Closes
A Crunchbase News guest analysis details PayPal winding down its ~decade-old venture arm — hiring Jefferies to sell secondary stakes (Plaid, Anchorage Digital) as new CEO Enrique Lores cuts 4,760 jobs and targets $1.5B in savings — while Fidelity International's corporate VC unit shut down in May 2026. The read is not a broad CVC retreat but a concentration of strategic capital at the top, leaving orphaned portfolio startups (14 PayPal unicorns incl. Plaid, Olo, Tabby) exposed to repricing. Signal for builders: strategic-capital dependence is now a risk factor, and secondary supply from these unwinds may pressure valuations.
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