PayPal pauses venture capital portfolio sale after low offers

PayPal has paused the sale of its venture capital portfolio after receiving offers as low as 60 cents on the dollar. The move follows the company’s earlier decision to wind down its venture capital arm, PayPal Ventures. The portfolio includes investments in the shopping app Tabby and the cryptocurrency platform Anchorage.

This decision comes amid a broader corporate reorganization at PayPal. In April, CEO Enrique Lores announced a transition to a three-business operating model focusing on checkout solutions, consumer financial services (including Venmo), and payment services and cryptocurrency. The company stated it is exploring strategic options for its venture arm to sharpen its focus on core fundamentals and operational excellence.