Creating Additional Value from Internal Technology Commercialization
To create additional value from internal capabilities and to facilitate innovation within Chevron, we also manage a separate, distinct Fund, which invests in seed-stage development and later-stage commercialization of internal technologies, competencies, and intellectual properties that have significant market potential beyond Chevron.

• The Fund invests in select seed-stage commercialization efforts within Chevron, providing business development assistance and funding for promising opportunities. Once development milestones are achieved, the commercialization effort may be spun out of Chevron as an independent company or continued internally with Opco or Techco support.
• The Fund’s investments are managed as independent businesses with explicit rules of interaction with Chevron.
• The Fund seeks external management and capital as appropriate to reduce risk and to validate the technology commercialization efforts of its portfolio companies.
• The Fund’s activities are not limited to power and energy related segments.
  

Commercialization of Internal Technology Success Story: Magic Earth
Our formation, development, and subsequent sale of Magic Earth exemplifies our investment process. Magic Earth supplies powerful three-dimensional visualization technology for oil and gas exploration and production. This technology was developed internally and proved to have broad applicability beyond Chevron.