Oklahoma City, OK (Sept. 28, 2018) – NextStream Growth I, LLC (“NextStream”), an early-stage venture capital firm, announces their launch after initial closing on committed capital with a goal of $100 million. The funds will be used to actively further innovation and technology development in today’s rapidly evolving energy industry.
Created by founding member Baker Hughes, a GE company (BHGE), NextStream raised capital from strategic investors and plans to continue pursuing capital investment opportunities. Currently, there are three companies being brought to market quickly and efficiently with the leadership of NextStream. These companies include four diverse technologies that will implement creative solutions for obstacles in the oil and gas industry. The portfolio companies are equipped and have the market capability to enter other industries to present disruptive technology. The envisioned structure of NextStream allows for elasticity to add value to its portfolio companies while also continuing the acquisitions of impactful investment opportunities.
“NextStream fits as part of BHGE’s diverse approach to develop, accelerate and bring to market technologies that help the oil and gas sector,” said Derek Mathieson, BHGE chief marketing and technology officer and NextStream board member. “Our initial investment and infusion of technology will provide a valuable starting point for NextStream to scale technology independently with the agility required for start-ups.”