BP
Responsible for managing a large team to deliver a broad range of business development activities, including technical and economic evaluation of potential projects, collaborating with teams to develop optimal development solutions, and project managing a range of strategic projects, exercising a strong combination of commercial and technical rigor to help achieve BP’s growth objectives.
Job Description
About Us
Our purpose is to bring together people, energy and markets to power and navigate a changing world.In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world’s leading energy company!
About The Role
Venturing is integral to enriching bp’s innovation landscape by taking advantage of transformational/disruptive changes to the value chains bp is, or might be, active in. As bp’s corporate venture capital unit, bp Ventures (bpV) plays a key role in helping bp reinvent itself as an integrated energy company, in line with our new purpose: reimagining energy for people and planet.bpV exists to provide insight into and the commercial innovation capacity that allows bp to build new businesses. bpV collaborates actively to share insight across SS&V and the wider bp to ensure bp realizes the full strategic value of the corporate venture capital activity.
bpV invests in a portfolio of high growth businesses with significant impact on bp’s current or future strategy. bpV has a track record of investing in disruptive innovation and bringing value to bp across dynamic markets. Since 2006, bpV has invested over $1bn into over 70 companies, co-investing with more than 250 corporate and institutional venture capital groups.
Currently, bp handles an active portfolio of around 30 companies.
bpV is looking to appoint a Ventures Manager (externally “Investment Director”) to its growth engine/sector teams (“Hydrogen, Renewables & Power”, “EV Charging & Convenience”, “Core & Bioenergy”, “Explore” and “Strategic Value”). Each sector team will be responsible for delivering upon the respective ventures related growth ambitions within each sector and made up of investment professionals from across the bpV Regions.
The Investment Director will have an established network (internally and externally) with a strong understanding and track record of VC investments capable of informally leading a diverse team across multiple geographies. The role holder will be perceived to be the “go-to” ventures person for the respective growth engine/sector and ideally have multi-disciplinary project management experience.bpV’s investment strategy is primarily focused on bp’s 5 transition growth engines (Bioenergy, Hydrogen, Renewables & Power, EV charging & Convenience) and categorized into the following four investment buckets:
- “Core – hydrocarbons” enabling bp to deliver on its aims to get to net zero and care for our planet.
- “Growth engines – informed” by business strategy delivering near-term business ambitions.
- “Growth engines – disruptors” inform business strategy through longer-term next generation or disruptive technologies.
- “Explore” the energy white space that inform and spur new growth engines by challenging existing bp strategy.
This position will lead the “Core & Bioenergy” growth engine/sector team and be located in one of the main bpV hubs, currently the United States – Houston or San Francisco or UK – London.
bp’s Bioenergy growth engine is accountable for creating new businesses as well as growing and optimizing the current portfolio of bioenergy within bp – including liquid biofuels for road, sustainable aviation and maritime fuels, and biogas. bpV will also continue to support improving bp Core operations.
bpV’s Core operations investments will enhance bp’s delivery of our sustainability aims and support of core operations. Core investments will focus specifically on bp’s sustainability aims to get bp to net zero (Aims 1-5) and to care for our planet (Aims 16-20) with a particular focus on water saving/treatment technologies and natural climate solutions.
By partnering with early- and growth-stage start-ups and the venture capital and corporate venture capital community, the bpV team accelerates the development of accretive and disruptive technologies for bp. The Ventures team operates in highly dynamic internal and external markets, building and shaping options to create enhanced strategic and financial value for bp.
Key Accountabilities
Manage the ventures related deliveries for the growth engine/sector team, with the support of investment professionals, including:
- Originating new investment opportunities relevant to the entire bpV investments strategy.
- Evaluating all new investment opportunities within the remit of the relevant growth engine/sector making new investment proposals to the bpV &/or SS&V investment committees (IC). All deal handling should be in keeping with the bpV investment process (IM/ATN/EFMs etc.).
- Negotiating and completing all new investment opportunities approved by the IC, ensuring bp is positioned to realize the full strategic benefits of the ventures investment.
- Supporting the relevant Regional Manager Director in leading the relevant portfolio with respect to those investments within the growth engine sector. This would include sitting on at least two portfolio company boards as a Board Director/Observer and handling exits within the respective TGE.
- Maintaining a close interaction with the relevant bp Transition Growth Engine (TGE) lead representative to ensure that all bpV activity relevant to the growth engine is appropriately shared to maximize the potential of strategic value realization through deployments, commercial agreements, or market insights.
- Develop and maintain the bpV growth engine/sector strategy in light of developments in the bp TGE Technology roadmaps including providing relevant strategic input to SS&V and the wider bp.
- Develop and maintain relationships with key external partners relevant to the growth engine/sector including entrepreneurs, investors, bankers, and strategic partners.
- Drive and Embed HSSE culture and behavior within the region.
- Ensure all activities are conducted in accordance with bp’s code of conduct.
Essential Education And Experience
- Preferred candidate is PhD, MBA or equivalent technical and/or commercial experience.
- Required: Negotiation experience specific to complex deals and or venture capital. Deep expertise in deal term sheets and structures.
- Required: Demonstrated track record of negotiating complex multi-stakeholder deals.
- Preferred: Strong financial skills, including financial modelling. With preference for expertise in modelling specific to venture capital or M&A.
- Preferred: Previous experience working or living in another European country and/or fluency in German, French and/or Spanish [for London-based candidates].
- Ideal candidate has a mixture of technical, financial, and commercial skills, but candidates with strong deal experience without a technical background will be considered.
- A great teammate able to interact with key players across the bp Group and businesses.
- An entrepreneurial flair and a track record of working outside of traditional boundaries and norms.
- Ability to work to tight deadlines and respond to changing requirements.
- Ability to work in an uncertain and ambiguous business environment with few precedents.
- Leads several activity streams with conflicting priorities.
- Good presentation skills and ability to communicate complex data effectively.
- The ability to communicate strategic clarity.
- Willingness to challenge and question the status quo.