PayPal is shutting down its $850M corporate venture arm, PayPal Ventures, as CEO Enrique Lores targets $1.5B in savings and refocuses on payments and

The fintech is exploring the sale of parts of its portfolio on the secondary market.

PayPal is reportedly shutting down its VC arm just months after the company tapped HP’s Enrique Lores to replace Alex Chriss as CEO.

It was one of fintech's most active corporate venture investors.

PayPal is shutting down its $850M corporate venture arm, PayPal Ventures, as CEO Enrique Lores targets $1.5B in savings and refocuses on payments and

The corporate venture arm ends after 10 years and 80 investments.

PayPal is closing PayPal Ventures, its corporate venture capital arm founded in 2002, as new CEO Enrique Lores aims to save $1.5B and cut 20% of the global workforce. The unit…