PayPal Shuts Down Venture Arm

PayPal is shutting down its venture arm, PayPal Ventures — a major move after CEO Enrique Lores takes charge, aiming to refocus on core business and AI. The arm, active since 2016 and backing big names like Plaid and Anchorage Digital, raised $850M across three funds. Its exit could leave PayPal behind in fintech innovation, while competitors stay ahead. The company is now selling off stakes with Jefferies’ help, amid recent legal woes including a $30M DOJ settlement over a minority-focused investment program. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/840a9fedb07e8140